Production Forecast. No later than sixty (60) Days prior to the Date of Initial Commercial Production and thereafter before the beginning of each Calendar Quarter, Contractor shall present a production forecast to Staatsolie. The forecast will estimate Gross Production for the next four (4) Calendar Quarters on a Commercial Field by Commercial Field basis, based on the production rates designed to maximize the ultimate recovery of Crude Oil (maximum efficient rate) from the Commercial Field in accordance with good and prudent petroleum industry practices and field conservation principles. Contractor shall give due consideration to any comments or recommendations made by Staatsolie in respect of such forecast. Contractor shall use reasonable efforts to produce the forecasted quantity each Calendar Quarter.
Production Forecast. The CONTRACTOR shall prepare and furnish to the DEPARTMENT a yearly production forecast report setting out the total quantity(ies) of the Petroleum that the CONTRACTOR estimates can be produced, saved and transported according to this Agreement during the Year and Quarterly in accordance with good Petroleum Industry practices. The CONTRACTOR shall use its best efforts to produce the forecast quantity of each Quarter, as updated from time to time. The CONTRACTOR shall, in accordance with good Petroleum Industry practices, store the Crude Oil in storage tanks constructed and maintained by the CONTRACTOR in the Agreement Area or each Development Area, as applicable, and/or a coastal point of export as may be mutually agreed, acting reasonably Measuring and volumetric determination of Crude Oil shall take place for the purpose of this Agreement at the point of custody transfer such as:
(i) The tie-in point where the Crude Oil is delivered to any third party for transportation, storage or sale; or
(ii) The point where the DEPARTMENT takes possession of its share of Crude Oil; or
(iii) The Export flange of the storage tanks located at the agreed upon points of export. The DEPARTMENT shall take title to its Royalty and share of Production Sharing Oil (in accordance with Article 3.2 and 7.3), and the CONTRACTOR (for and on its own behalf and on behalf of Range Resources) shall take title to Cost Oil and its share of Production Sharing Oil (in accordance with Articles 7.1 and 7.3 respectively) as provided for in this Agreement at a metering point at the storage tanks or at a point mutually agreed upon by the CONTRACTOR and the DEPARTMENT.
Production Forecast. Aastrom will provide to Supplier a twelve (12) month rolling forecast (“Forecast”) upon the placement of initial production order. At all times the first three (3) months will represent a firm production demand. 11 SHIPMENT, RISK OF LOSS AND PAYMENT TERMS Supplier shall ship the Product in accordance with Aastrom’s delivery instructions specified in Aastrom’s purchase orders. Delivery shall be FOB Supplier’s dock in Grand Rapids, MI. Supplier shall deliver all Products ordered by Aastrom in accordance with the requested delivery dates as indicated in Aastrom’s purchase orders. Aastrom shall be responsible for shipping costs. All Products delivered by Supplier pursuant to this Agreement shall be packed as per standard operating procedure for the designated carrier. All Product shipped will include the Certificate of Conformance and will specify Aastrom part number, lot number and quantity. All Product will be shipped with appropriate shipping documentation and clearly marked with part number, order number, and quantity. Payments for Products are due within thirty (30) days of the invoice date. In the event that any terms and conditions on any Supplier invoice or Aastrom purchase order conflict with the terms of this Agreement, the terms of this Agreement shall govern.
Production Forecast. Vericel will provide to Supplier a [***] month rolling forecast ("Forecast'') upon the placement of initial production order. At all times the first [***] months will represent a firm production demand.
Production Forecast. Within forty-five (45) days after the end of each Fiscal Quarter, the Borrower shall deliver to the Administrative Agent a Hydrocarbon production forecast in form and substance satisfactory to the Administrative Agent. Such production forecast shall contain the Borrower’s good faith projections for production volumes, revenues, expenses and taxes in respect of the Oil and Gas Properties for the immediately following twelve (12) month period, and the underlying assumptions and data used in preparing the same.
Production Forecast. Without limiting Atara’s obligations to provide the Demand Forecast (and the [ * ]forecast of production) at each Operations Meeting, as set forth in Section 3.2, within [ * ] following the Effective Date, Atara will provide to Manufacturer a [ * ] [ * ]forecast of its estimated production requirements for Product ([ * ]) for the [ * ] period [ * ] the Effective Date, prepared in good faith and on reasonable grounds, and reflecting Atara’s commercially reasonable estimate of its needs for Product over the applicable period.
Production Forecast. Without limiting Atara’s obligations to provide the Demand Forecast (and the [[***]] forecast of production) at each Operations Meeting, as set forth in Section 3.2, (i) within [[***]] following the Effective Date, Atara will provide to Manufacturer a [[***]] forecast of its estimated production requirements for Product ([[***]]) for the [[***]] period [[***]] following the Effective Date, prepared in good faith and on reasonable grounds, and reflecting Xxxxx’s commercially reasonable estimate of its needs for Product over the applicable period and (ii) attached as Exhibit C to the Third Amendment is the mutually agreed upon initial production forecast for [[***]] across all Work Orders (“Initial Production Forecast”) for the time period from [[***]] (the “Extension Term”). Beginning [[***]], and thereafter by [[***]], Atara shall provide Manufacturer with a written forecast of [[***]] across all Work Orders [[***]] (each, an “Updated Production Forecast”). The Updated Production Forecasts must include [[***]] orders [[***]] equal to [[***]] the Initial Work Order for [[***]]. The Initial Production Forecast and each Updated Production Forecast is a [[***]] order for the Extension Term, and [[***]] (collectively, the “Forecasted Batches”) [[***]]”
Production Forecast
