Production Period. 1. Following each Commercial Discovery, the extent of the whole area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor Group. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be ( ) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits.
2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within ( ) Years from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted as part of a regular program of lifting in accordance with the Lifting Schedule.
Production Period. If you or any related producer has an outstanding default on a previous or current crop year advance with any APP administrator, you will be ineligible for an advance under the Agricultural Marketing Programs Act (AMPA). To be eligible for a livestock or animal advance, the stock must already be at foot. Advances for grain, sheep and lambs are based on an 18-month program beginning April 1st of each production period. Livestock advances for cattle and bison are based on a 24-month program beginning April 1st of each production period. Producers can qualify for up to a maximum of $400,000 with the first $100,000 interest free. The interest free provision and maximum advance is cumulative over all organizations under the Advance Payments Program. The maximum cumulative advance that can be issued to an applicant, including current outstanding advances (2016 and 2018) and eligible advances for 2018, can at no time exceed $400,000. Advances are issued to applicants, less applicable application fees. Producers applying for an Intended Seeding Advance are eligible to receive 60% of their requested advance upon approval of their application. The remaining 40% will be issued when BCBFA receives the producer’s Actual Seeded Advance Report and a confirmed Seeded Acreage Report. All recipients of an Intended Seeding Advance must submit this report by July 31, 2018, otherwise the advance becomes due immediately. BCBFA ‘s Administration Fee will be .75% (minimum fee of $375.00 maximum fee of $750.00 The interest rate for interest bearing advances is the BMO Prime rate Repayments without proof of sale, as described in 3.0 of the Repayment Agreement, are subject to an interest penalty at the BMO Prime rate plus 1%.
Production Period. If, during either the Initial Option Period or the Option Period Extension, the Series goes into production, then Production Company’s option hereunder shall be further extended throughout the “Production Period”, which shall mean the period of time beginning upon the end of the Option Extension Period and terminating upon the earlier of either (i) Purchase; or (ii) Thirty Six (36) months from the start of the Production Period.
Production Period studies; - well completions and reconditioning of development xxxxx; - production and evacuation infrastructures; - production equipment; - maintenance work, painting work, other; - proposed professional training programme; - the estimated date for submission of the Abandonment Plan or, if applicable, the updated Abandonment Plan. The Budget shall be broken down for each Petroleum Operation, in accordance with this Article 10.4 and consistent with the Accounting Procedure.
Production Period. During the Production Term, CBSW will store at the Facility, without charge to Client, so much of supplies, other Client Materials, equipment or other property needed to manufacture the Product. In addition, Client will supply to CBSW a cryogenic means for CBSW to store Cryopreserved Product at the Facility and CBSW will store such Cyropreserved Product during the Production Term up to the time specified for delivery in accordance with Section 6.3.
Production Period. The production period will last for a period of twenty-four (24) years, starting on the date in which XXX receives from THE CONTRACTOR the Declaration of Marketability mentioned in Clause 15 below. The Production Period will be estimated separately for each Production Area, and consequently, all references to duration, extension or termination of the Production Period refer to each particular Production Area.
Production Period. 11.1 The Contractor shall have an exclusive right to Production on the Contract Territory within 25 (twenty-five) consequential years (2009-2034).
11.2 Terms and conditions of the Production, including Work Program on the Production, are subject to additional execution, after approval of reserves in GKZ, as Additional Agreement to this Contract.
11.3 Contractor shall begin Production not later than 90 (ninety) days after conclusion of the Additional Agreement to the Contract and agreement on the program of the Production.
Production Period. The Production Period is the period from the Musician’s first call in the final week of rehearsal leading up to the designated press night (which may be more than one week and include preview performances). In a Production Period the Manager may call the Musician for up to 40 hours per week payable at single time, i.e. the basic 24/28 hours plus a further 16/12 hours payable pro rata, including any payments for additional instruments. Any hours for which the Musician is required in addition to 40 hours per week during a Production Period shall attract overtime payments according to the provisions of Clause 3. During the Production Period, the Manager can schedule the Musician flexibly to suit the needs of the production, subject to a schedule being agreed in advance, and there always being a minimum call time of 3 hours. Christmas Day, Boxing Day, New Year’s Day, Good Friday, Easter Monday, May Day, Spring Bank Holiday, Summer Bank Holiday, or such public or bank holidays as may be declared by the government in lieu of any of these days, and such public or bank holidays as may be declared by the government in addition to any of these days.
Production Period. With regards to the Production Area, a period of up to twenty-four (24) years and its extensions if any, starting on the corresponding Declaration of Marketability, during which THE CONTRACTOR must undertake the Development and Production Operations. Exploration Period: 6-Year Period counted as of the Effective Date, together with any extension granted, during which THE CONTRACTOR shall execute the Exploration Program.
Production Period. 1. Following each Commercial Discovery, the extent of the whole area within the Contract Area capable of Production from the deposit or deposits identified in the Well that originated the Commercial Discovery and its related Appraisal Xxxxx, if any, shall be agreed upon by Sonangol and Contractor Group. Each agreed area shall then be converted automatically into a Development Area effective from the date of Commercial Discovery. Without prejudice to paragraph 2 hereof, there shall be a Production Period for each Development Area which shall be twenty (20) Years from the date of Commercial Discovery in said Development Area. In the event of Commercial Discoveries in deposits which underlie and overlie each other, such deposits shall constitute a single Development Area, and such area shall be defined or redefined as necessary, within the boundaries of the Contract Area, to incorporate all underlying and overlying deposits.
2. Unless otherwise agreed by Sonangol, any Development Area is considered automatically terminated and, except as otherwise provided in the Agreement, the rights and obligations in said Area are considered terminated if within three (3) Years from the date of Commercial Discovery in said Development Area the first lifting of Crude Oil from said Development Area has not been lifted as part of a regular program of lifting in accordance with the Lifting Schedule. No later than twelve (12) Months before the end of the Production Period, Contractor Group may request that Sonangol apply for an extension of the Production Period under Article 5.2. If Sonangol does not oppose to said request, it shall discuss the terms and conditions of the extension of the Production Period with the Contractor Group and submit said terms and conditions to the supervising Ministry along with the application to be presented under the Petroleum Activities Law.
