Operating Period. During the Term, Executive shall receive an ---------------- annual base salary in the amount of One Hundred Forty Four Thousand Dollars ($144,000.00) payable in accordance with the normal payroll practices of the Bank. Annual salary increases shall be according to Bank policy which are based on merit and the bank's financial performance for the previous year. Annual increases are in the sole discretion of the Bank.
Operating Period. 1. Upon completion of the construction of the Mine and related facilities provided for in Article 9 with respect to any Mining Area , the Company shall commence operation of such Mining Area for which such facilities have been constructed.
2. The Company shall conduct Mining operations and any activity of the Enterprise with respect to a Mining Area, for the duration of the Operating Period of such Mining Area. The Operating Period for such Mining Area shall be deemed to commence on the first day of the calendar month following the first calendar month during which the average daily throughput is at least seventy percent (70%) of the design capacity of the facilities constructed for the purpose of Mining the deposit or deposits in such Mining Area, but not later than the date falling six (6) months after the date of completion of such facilities. The Operating Period for each Mining Area shall continue for 30 (thirty) years beginning at the commencement of the Operating Period for the first Mining operation, or such longer period as the Department, on the written application of the Company, may approve. The commencement of the Operating Period shall not occur more than eight (8) years (or such longer period as may result from extensions granted by the Department for the completion of succeeding stages under this Agreement) from the commencement of the General Survey Period allowed for the whole Contract Area.
3. The Company shall process ore to produce a marketable concentrate. The Company will work towards and assist the Government in achieving the policy of the establishment of downstream metals processing facilities in Indonesia in relation to smelting, refining and/or associated processing if, according to recognized economic, technical and scientific standards, the Minerals to be mined by the Company are of sufficient tonnages and are Minerals amenable to smelting, refining or associated processing, and provided it is economically and practically feasible to do so. If and when any such processing facilities (other than a copper processing facility) are constructed, the Parties agree to discuss thereafter and consider, in good faith, the feasibility of subsequent additional processing facilities which may be in the form of increases in the capacity of the existing facilities or the establishment of facilities previously not in existence. In the event that there is no copper smelter operating or under construction in Indonesia on or before the fifth ann...
Operating Period. The term of the contract (start date to end date) may overlap Fiscal Years. The City’s Fiscal Year runs from July 1st to June 30th.
Operating Period. The definition of Operating Period is hereby ----------------- deleted and replaced in its entirety with the following: the period beginning with the Commencement Date and ending upon the expiration of the Initial Term and any extension term.
Operating Period. 2 Section 1.1 Operating Period 2 Section 1.2 Extension Option 2 Section 1.3 Contract Year 2
Operating Period. The Operating Period of this Contract shall commence as of 12:01 AM on January 1, 2011, and end at 12:00 Midnight on December 31, 2015, subject to earlier termination as provided for herein.
Operating Period. (a) From the Commercial Operations Date up until the Transfer Date (“Operating Period”), the Project Company shall, at its own cost, be responsible for the commercial operation and maintenance of the Project and shall provide a high level of service to its users in accordance with this Agreement, the Standards, Best Industry Practice and any directives from the Responsible Government Authorities.
(b) During the Operating Period the Project Company shall obtain and maintain the Authorizations required for operating the Project and implementing its obligations under this Agreement, including with particularity the Operating Permit and Environmental Compliance Certificate.
(c) During the Operating Period the Project Company shall:
(i) Not cause, permit or suffer any use of the Project Facility or any part thereof for any other purpose other than that authorized by the Government, in accordance with the terms of this Agreement and Lao PDR Laws.
(ii) Not do anything at any time do, cause or permit any nuisance in or around the Concession Area or anything which shall cause unnecessary annoyance, inconvenience or disturbance to the occupiers of any surrounding property.
(iii) Operate and maintain the Project Facility and On-Site Infrastructure and Concession Area in a clean and hygienic condition; removing and disposing of waste in accordance with Article 14; and ensuring that all food and beverage services are of high hygienic standard in accordance with the Authorizations, Lao PDR Law and any directives of the Ministry of Health.
(iv) Provide modern public health facilities, including a sufficient number of clean and accessible toilets, in the Concession Area for use by the Project’s users and employees in accordance with generally accepted health and sanitation Standards and in accordance with the Labor Law and other associated Lao PDR Laws.
(v) Not store any goods not permitted by Lao PDR Laws, including hazardous, explosive, flammable or combustible in nature that may cause risk by fire, explosion or goods/material which on account of their weight or nature may cause damage or endanger the safety of the Project Facility and/or Concession Area and/or its inhabitants;
(vi) Provide firefighting equipment in the Project Facility and ensure that periodic fire drills are conducted in order to guide and inculcate the procedures and operations of firefighting/safety; and
(vii) Take such measures as Project Company considers necessary, or as directed by the Responsib...
Operating Period. The Operating Period of the Contract shall be for two (2) years commencing at 2:00 a.m., E.S.T. on March 1, 2018, and ending at 1:59 a.m., E.S.T. on March 1, 2020, subject to earlier termination as provided for herein.
Operating Period. Not later than ninety (90) days before the beginning of each Operating Year, Operator shall prepare and submit to Owner Operator’s proposed Operating Plan for the Facility for the following Operating Year. Each Operating Plan shall be prepared so as to comply and be consistent with Operator’s obligations set out in Article III. Each Operating Plan shall show, in such detail reasonably required by Owner, and on a Month-by-Month basis, all relevant information relating to the anticipated operation and on-going maintenance of the Facility by Operator, including the relevant information listed in Part 1 of Schedule 2. Together with each proposed Operating Plan submitted to Owner for an Operating Year, Operator shall prepare and submit to Owner a proposed Budget for the Facility for that Operating Year. The Budget shall show, in such detail reasonably required by Owner and on a Month-by-Month basis, an itemized estimate of Operating Expenses to be incurred in the implementation of the Operating Plan for the Facility in that Operating Year by Operator. The Budget shall include the expense categories set out in Part 2 of Schedule 2 or shall be in such other form as Owner may reasonably request.
Operating Period. Not later than forty-five (45) days before the beginning of each Operating Year, Operator shall prepare and submit to Owner Operator’s proposed Operating Plan for the Project for the following Operating Year. Each Operating Plan shall be prepared so as to comply and be consistent with Operator’s obligations set out in Article III and shall only relate to the Services provided under this Agreement. Each Operating Plan shall show, in such detail reasonably required by Owner, relevant information relating to the anticipated operation and on-going maintenance of the Facility by Operator. Together with each proposed Operating Plan submitted to Owner for an Operating Year, Operator shall prepare and submit to Owner a proposed Budget for the Project for that Operating Year, which shall only relate to the Services provided under this Agreement. The Budget shall show, in such detail reasonably required by Owner and on a Month by Month basis, an itemized estimate of the amount of each Operating Expense to be incurred in the implementation of the Operating Plan for the Project in that Operating Year by Operator.
