Production Beyond the Term of Contract Sample Clauses

Production Beyond the Term of Contract. (a) Where Production from a Development Area is possible beyond the term of this Contract, the Contractor shall handover to TIMOR GAP - Timor Gás & Petróleo, E.P. such Development Area and all Facilities and other property required for carrying out existing operations, in good state of repair and operation. Upon the transfer of the relevant Development Area and related Facilities, TIMOR GAP - Timor Gás & Petróleo, E.P. shall assume all responsibility for the Facilities and other property and their Decommissioning and hold the Contractor harmless against any liability with respect thereto accruing after the date of such transfer to the TIMOR GAP - Timor Gás & Petróleo, E.P. but without prejudice to any obligations or liabilities accrued by Contractor prior to the above transfer. (b) Where TIMOR GAP - Timor Gás & Xxxxxxxx, E.P. elects not to take on the responsibility to continue Production in the Development Area beyond the term of this Contract, ANPM and Contractor may agree on new terms and conditions based on this Contract to allow the Production to continue. The new terms and conditions for continuation of Production must result in an increase of Timor-Leste’s entitlement to the Production.
Sample 1
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Production Beyond the Term of Contract. (a) Where Production from a Development Area is possible beyond the term of this Contract, Contractor shall handover to TIMOR GAP such Development Area and all Facilities and other property required for carrying out existing operations, in good state of repair and operation. Upon the transfer of the relevant Development Area and related Facilities, TIMOR GAP shall assume all responsibility for the Facilities and other property and their Decommissioning and hold the Contractor harmless against any liability with respect thereto accruing after the date of such transfer to TIMOR GAP but without prejudice to any obligations or liabilities accrued by Contractor prior to the above transfer. (b) Where TIMOR GAP elects not to take on the responsibility to continue Production in the Development Area beyond the term of this Contract, ANPM and Contractor may agree on new terms and conditions based on this Contract to allow the Production to continue. The new terms and conditions for continuation of Production must result in an increase of Timor-Leste’s entitlement to the Production.
Sample 1

Related to Production Beyond the Term of Contract

  • Term of Contract The term of this Contract shall be one (1) year commencing on the last date of approval by DIR and Vendor. Prior to expiration of the original term, DIR and Vendor may extend the Contract, upon mutual agreement, for up to three (3) optional one-year terms. Additionally, the parties by mutual agreement may extend the term for up to ninety (90) additional calendar days.

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • OPTION TO EXTEND THE TERM OF THE CONTRACT (MAR 2000)

  • Conditions Term of Agreement 93 3.1 Conditions Precedent to the Initial Extension of Credit ............................................. 93 3.2 Conditions Precedent to all Extensions of Credit ........................................................ 93 3.3 Maturity ........................................................................................................................... 93 3.4

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • DISTRIBUTION OF CONTRACTOR PRICE LIST AND CONTRACT APPENDICES Contractor shall provide Authorized Users with electronic copies of the Contract, including price lists and Appendices, upon request. Contract Updates will be handled as provided in Appendix C – Contract Modification Procedures.

  • NO EXPECTATION OF CONTINUED EMPLOYMENT BEYOND TERM OF CONTRACT Neither this contract nor any Board Policy, rule or evaluation procedure shall confer upon the Employee continued employment beyond the term provided in this contract.

  • EFFECTIVE DATE; TERM OF AGREEMENT This Agreement shall become effective as of January 29, 2010 (the “Effective Date”). Upon effectiveness of this Agreement on the Effective Date, the Employment Agreement between the Company and the Executive dated as of September 8, 2006 (as amended, the “Prior Agreement”) shall terminate and be of no further force and effect. Subject to earlier termination as provided herein, Executive’s employment hereunder shall continue on the terms provided herein until February 2, 2013 (the “End Date”). The period of Executive’s employment by the Company from and after the Effective Date, whether under this Agreement or otherwise, is referred to in this Agreement as the “Employment Period,” it being understood that nothing in this Agreement shall be construed as entitling Executive to continuation of his employment beyond the End Date and that any such continuation shall be subject to the agreement of the parties. This Agreement is intended to comply with the applicable requirements of Section 409A and shall be construed accordingly.

  • CONDITIONS FOR EMERGENCY/HURRICANE OR DISASTER - TERM CONTRACTS It is hereby made a part of this Invitation for Bids that before, during and after a public emergency, disaster, hurricane, flood, or other acts of God that Orange County shall require a “first priority” basis for goods and services. It is vital and imperative that the majority of citizens are protected from any emergency situation which threatens public health and safety, as determined by the County. Contractor agrees to rent/sell/lease all goods and services to the County or other governmental entities as opposed to a private citizen, on a first priority basis. The County expects to pay contractual prices for all goods or services required during an emergency situation. Contractor shall furnish a twenty-four (24) hour phone number in the event of such an emergency.

  • Fixed Term Contract 1.1 The Customer shall use the following applicable Service Plan for the period specified in the Sales and Services Agreement (“Term”). The Term shall start from the service effective date. 1.2 The Service will take effect one day after the service installation.

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