Production Term Sample Clauses

Production Term. The “Production Term” component of the Lease and Easement Term, if any, shall commence on the first to occur of (i) the first date of Commercial Production, or (ii) the Outside Construction Date, and shall continue for 35 years thereafter. Lessee shall provide Owner with a courtesy notice of the commencement of Commercial Production, but the failure to provide notice of such date shall not affect Xxxxxx’s rights hereunder. For avoidance of doubt, a failure of the Project to achieve Commercial Production prior to the Outside Construction Date shall not be a default hereunder; rather, it shall only serve to inflect the term of this Agreement to the Production Term from the Construction Term.
Sample 1
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Production Term. (a) Each Product shall be produced in the suite identified on Schedule B-( ), such suite being called the “Production Area”. The Production Term is set forth in Schedule B-(__) attached hereto relating to that Product. The term of this Agreement shall continue in full force and effect for a period ending on the later of 10 years from the date hereof or the Termination Date of the final Product to-be produced hereunder unless terminated earlier in accordance with the following provisions of this Section 3. (b) Each party (the “Terminating Party”) shall have the right to terminate this Agreement upon six (6) months prior written notice (the “Termination Period”) to the other party in accordance with the following: (i) If Client is the Terminating Party, it shall have the option (if set forth in Client’s notice of termination to BSCP), in lieu of requiring BSCP to continue its performance under the Agreement during the Termination Period, to elect to pay BSCP, within [**] of the delivery of the termination notice, immediately available funds equal to [**] production fee at the then current rate, together with the costs of all materials and consumables purchased by BSCP through the end of the Termination Period. All materials and consumables purchased by BSCP through the end of the Termination Period should be delivered to the Client or its subsidiaries/designees at the Client’s cost. (ii) If BSCP is the Terminating Party, then BSCP and Client shall continue to perform their respective obligations under this Agreement throughout the Termination Period unless otherwise agreed to in writing by the parties. All materials and consumables purchased by BSCP through the end of the Termination Period should be delivered to the Client or its subsidiaries/designees at the Client’s cost. (c) BSCP shall have the right to terminate this Agreement [**]. (d) Each party shall have the right to terminate this Agreement (i) following a material breach of this Agreement that the breaching party fails to remedy within [**] after written notice thereof by the non-breaching party; and (ii) immediately upon the bankruptcy, insolvency, dissolution, or winding up of the other party. (e) The expiration or earlier termination of this Agreement shall not relieve the parties of any obligation accruing prior to such expiration or termination including, without limitation, all monetary obligations for work, services, materials, and costs previously performed or incurred by BSCP pursuant to ...
Sample 1
Production Term. The “Production Term” extends indefinitely as long as SPE continues to produce and release Pictures as follows: • As a general rule, SPE must (a) commence production of each Picture within 3 years and 9 months after the release of the preceding Picture and (b) release each Picture within 5 years and 9 months after the release of the preceding Picture. • If SPE releases 3 Pictures within 8 consecutive years, then SPE may extend the foregoing deadlines as follows: (a) commence production of the next Picture within 5 years after the release of the preceding Picture and (b) release such Picture within 7 years after the release of the preceding Picture. • Each of the foregoing deadlines is subject to extension for Force Majeure.
Sample 1
Production Term. The Production Term is set forth in Schedule B-( ) attached hereto relating to that Product. The term of this Agreement shall continue in full force and effect for a period ending on the later of 10 years from the date hereof or the Termination Date of the final Product to be produced hereunder.
Sample 1

Related to Production Term

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Production Phase contract period in which the Development and the Production are to be performed.

  • Pre-Commencement Phase Services The services required to be provided by the Contractor for the Pre- Commencement Phase of the Project in accordance with the Contract Documents.

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in xxxxx, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.

  • Development Work The Support Standards do not include development work either (i) on software not licensed from CentralSquare or (ii) development work for enhancements or features that are outside the documented functionality of the Solutions, except such work as may be specifically purchased and outlined in Exhibit 1. CentralSquare retains all Intellectual Property Rights in development work performed and Customer may request consulting and development work from CentralSquare as a separate billable service.

  • License Term The license term shall commence upon the License Effective Date, provided, however, that where an acceptance or trial period applies to the Product, the License Term shall be extended by the time period for testing, acceptance or trial.

  • Project Commencement The Grantee shall begin the grant-funded project <<on or before insert date>> <<within 90 days of the original start date of the grant term or grant execution date, whichever is later,>>, unless otherwise approved by System Agency. If project commencement is delayed, the Grantee must submit in writing to the assigned contract manager, the steps taken to initiate the project, the reasons for the delay, and the expected start date. System Agency may require Grantee to take immediate remedial or corrective action in response to any delay.

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • Programming Phase Schematic Design Phase: 2.2.1.3. Design Development Phase:

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