Proposal of Appraisal Operations Sample Clauses

Proposal of Appraisal Operations. 11.1.1 Well Plan's Minimum Specifics . . . . . . . . . . . . . . . 11.1.2 Pre-Spud Technical Meeting and Revision of Well Plan . . . . 11.1.3
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Proposal of Appraisal Operations. After completion of Exploratory Operations any Party may propose to conduct an Appraisal Operation within a Designated Prospect by giving notice of the proposal (along with the associated AFE and Well Plan) to all other Parties. If all the Parties agree to participate in drilling the proposed Appraisal Well, Operator shall commence the proposed well in accordance with this Article 11 and drill same at their Cost and risk. No Appraisal Well shall be drilled by any Party hereto on any Designated Prospect without the approval of one or more Parties having a combined voting interest of fifty percent (50%) or more except, however: (a) subsequent to the beginning of the last two (2) years of the primary term of any Lease within such Designated Prospect having a primary term of five (5) years (regardless of whether the Lease has a primary term which extends to eight (8) years); (b) the last three (3) years of the primary term of any Lease within such Designated Prospect having a primary term which has been extended to eight (8) years; or (c) subsequent to the beginning of the last three (3) years of any Lease within such Designated Prospect having a primary term of ten (10) years upon which there is no well being reworked, drilled, or agreed to be drilled by at least a fifty percent (50%) voting interest, any one or more of the Parties hereto may drill an Appraisal Well upon such Lease upon its Election. If fewer than all the Parties elect to participate in and agree to bear 100% of the Cost and risk of drilling the proposed well or conducting a proposed operation, Operator shall drill such well or conduct such operation, provided that a Participating Party may, subject to Article 4.2, take over the operation as substitute Operator in the event Operator does not elect to participate. Costs of a Non-Consent Appraisal Operation will be recouped in accordance with Article 16 (Non- Consent Operations). The formation of an Integrated Project Team may occur concurrently with Appraisal Operations.

Related to Proposal of Appraisal Operations

  • The Appraisal The Mortgage Loan Documents contain an appraisal of the related Mortgaged Property by an appraiser who is licensed in the state where the Mortgaged Property is located, and who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Performance Appraisal The employee's performance will be rated by his/her immediate excluded supervisor. The rater shall discuss the performance appraisal with the employee. The employee shall have the opportunity to provide his/her comments to be attached to the performance appraisal. The employee shall sign the performance appraisal and that signature shall only indicate that the employee has read the performance appraisal. A copy shall be provided the employee at this time.

  • Waiver of Appraisal Rights Each Stockholder hereby waives any rights of appraisal or rights to dissent from the Merger.

  • Performance Appraisals 3201 The Employer shall complete a written appraisal of a nurse's performance at least bi-annually. Upon request, the nurse shall be given an exact copy of the appraisal. 3202 The nurse shall have an opportunity to read such document. 3203 The nurse's signature on such document merely signifies that the contents of the document have been read. 3204 If the nurse disputes the appraisal, she/he may file a reply to the document in accordance with Article 29, and/or she/he may file a grievance under Article 12 of this Agreement.

  • Inspections; Appraisals (a) Permit Agent, or its representatives or designees, from time to time, subject (except when a Default or Event of Default exists) to reasonable notice and normal business hours, to visit and inspect the Properties of any Obligor or Subsidiary, inspect, audit and make extracts from any Obligor’s or Subsidiary’s books and records, and discuss with its officers, employees, agents, advisors and independent accountants such Obligor’s or Subsidiary’s business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender shall have any duty to any Obligor to make any inspection, nor to share any results of any inspection, appraisal or report with any Obligor. Obligors acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for their purposes, and Obligors shall not be entitled to rely upon them. (b) Reimburse Agent for all charges, costs and expenses of Agent in connection with (i) examinations of any Obligor’s books and records or any other financial or Collateral matters as Agent deems appropriate, up to three times per Loan Year; and (ii) appraisals of Inventory and Equipment up to one time per Loan Year; provided, however, that if an examination or appraisal is initiated during a Default or Event of Default, all charges, costs and expenses therefor shall be reimbursed by Borrowers without regard to such limits. Subject to and without limiting the foregoing, Obligors specifically agree to pay Agent’s then standard charges for each day that an employee of Agent or its Affiliates is engaged in any examination activities, and shall pay the standard charges of Agent’s internal appraisal group. (The current standard per diem charge for an employee of Agent or the third party currently utilized by Agent is $850 per day or part thereof.) This Section shall not be construed to limit Agent’s right to conduct examinations or to obtain appraisals at any time in its discretion, nor to use third parties for such purposes.

  • Financial testing The financial covenants set out in Clause 20.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 19.2 (Compliance Certificate).

  • Absence of Appraisal or Dissenters’ Rights No Shareholder shall be entitled, as a matter of right, to relief as a dissenting Shareholder in respect of any proposal or action involving the Trust or any Series or any Class thereof.

  • Financial Audit The School shall submit audited financial statements from an independent auditor to the Authorizer no later than November 1 of each year.

  • Financial Tests The Company hereby certifies and warrants to you that the following is a true and correct computation as at the Computation Date of the following ratios and/or financial restrictions contained in the Credit Agreement:

  • Waiver of Appraisal and Dissenters’ Rights Stockholder hereby waives, and agrees not to assert or perfect, any rights of appraisal or rights to dissent from the Merger that Stockholder may have by virtue of ownership of the Shares.

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