Relinquishment of the Contract Area Sample Clauses

Relinquishment of the Contract Area. 14.2. After the Production Phase is completed, the Contract Area shall be relinquished to the Federal Government.
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Relinquishment of the Contract Area. The Contract Area shall be relinquished to the Federal Government at the end expected for the Production. The Consortium Members shall submit a report to the Contracting Party and to ANP, up to thirty-six (36) months before the earlier of the end of the effectiveness of the Agreement or the estimated depletion of commercially extractable volumes, with information on: mechanical condition of the xxxxx; Outflow lines; Production plans; equipment and other assets; prospect of additional Production; prospect of Field depletion; agreements with current suppliers; and other relevant considerations. The Consortium Members shall submit to ANP a Facility Decommissioning Program in compliance with the Applicable Laws and Regulations and the Best Practices in the Oil Industry. In the absence of specific regulation, the term for submission of the Facility Decommissioning Program shall not be lower than two (2) years before the expected end of the Production. In case ANP requests additional information and for additional measures to be taken, the Consortium Members shall have sixty (60) days, of other term to be defined at ANP’s discretion, of the date of receipt of the notice to submit it. The activities provided for in the Facility Decommissioning Program may only start upon express authorization by ANP. At the time of the approval of the Facility Decommissioning Program, ANP may indicate which properties shall be inure to the benefit of the Federal Government, under the Applicable Laws and Regulations, and establish that the Consortium Members neither proceed to permanently abandon certain xxxxx nor decommission or remove certain facilities and equipment, without prejudice to its right to return the area. This Agreement shall only be terminated for a certain Development Area or Field after compliance with the relevant Facility Decommissioning Program and approval of the Final Report on Decommissioning of the Facilities by ANP, with immediate relinquishment of the relevant area. In case the Facility Decommissioning Program indicates a prospect of additional Production after the end of the effectiveness of the Agreement, the Contracting Party may, based on ANP’s opinion, determine the actions for ensuring continuity of the Production Operations. In this case, the Operator shall propose to the Operating Committee an operational continuity plan, which shall include: the assignment of agreements with suppliers of the Consortium; the possibility of acquiring properties ha...
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Relinquishment of the Contract Area. 5.1 The Contractor shall relinquish a portion or portions of the Contract Area in accordance with the following provisions:
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Relinquishment of the Contract Area. 5.1 The Contract Area excluding the Development Area shall be relinquished on the date of approval of the Overall Development Program.
Sample 1Sample 2Sample 3
Relinquishment of the Contract Area. The Contract Area shall be relinquished to the Federal Government at the end expected for the Production. The Consortium Members shall submit a report to the Contracting Party and to ANP, with information on: mechanical condition of the xxxxx; Outflow lines; Production plans; equipment and other assets; prospect of additional Production; prospect of Field depletion; agreements with current suppliers; and other relevant considerations. The Consortium Members shall submit to ANP a Facility Decommissioning Program in compliance with the Applicable Laws and Regulations and the Best Practices in the Oil Industry. In case of a prospect of additional Production after the end of the effectiveness of the Agreement, the Contracting Party may, based on ANP’s opinion, determine the actions for ensuring continuity of the Production Operations. In this case, the Operator shall propose to the Operating Committee an operational continuity plan, which shall include: the possibility of assignment of agreements with suppliers of the Consortium; the possibility of acquiring properties having a useful life greater than the effectiveness of the Agreement. When the effectiveness of the Agreement has ended and there are commercially extractable reserves, the Contracting Party may determine that the Consortium Members do not proceed with the permanent abandonment of certain xxxxx and do not decommission or remove certain facilities and equipment, without prejudice to their right to return the area.
Sample 1Sample 2
Relinquishment of the Contract Area. 5.1 The Contractor shall relinquish a portion or portions of the Contract Ar­ea in accordance with the following provisions:
Sample 1Sample 2
Relinquishment of the Contract Area. The contract Area shall be relinquished to Federal Government at the expected end of the Production. The Consortium Members must submit to the Contracting Party and the ANP, up to 36 (thirty-six) months before the end of the term of the Agreement or the estimated exhaustion of commercially extractable volumes, whichever occurs first, a report with information on:
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Related to Relinquishment of the Contract Area

  • Common Areas Tenant shall have the non-exclusive right to use in common with other tenants in the Project, and subject to the Rules and Regulations referred to in Article 5 of this Lease, those portions of the Project which are provided, from time to time, for use in common by Landlord, Tenant and any other tenants of the Project (such areas, together with such other portions of the Project designated by Landlord, in its discretion, including certain areas designated for the exclusive use of certain tenants, or to be shared by Landlord and certain tenants, are collectively referred to herein as the “Common Areas”). The Common Areas shall consist of the “Project Common Areas” and the “Building Common Areas.” The term “Project Common Areas,” as used in this Lease, shall mean the portion of the Project designated as such by Landlord or areas within the Project that the occupants of the Building are permitted to utilize pursuant to a recorded declaration and which areas shall be maintained in accordance with the declaration. The term “Building Common Areas,” as used in this Lease, shall mean the portions of the Common Areas located within the Building reasonably designated as such by Landlord. The manner in which the Common Areas are maintained and operated shall be at the reasonable discretion of Landlord and the use thereof shall be subject to the Rules and Regulations as Landlord may make from time to time. Landlord reserves the right to close temporarily, make alterations or additions to, or change the location of elements of the Project and the Common Areas, provided that, in connection therewith, Landlord shall perform such closures, alterations, additions or changes in a commercially reasonable manner and, in connection therewith, shall use commercially reasonable efforts to minimize any material interference with Tenant’s use of and access to the Premises.

  • Maintaining Records; Access to Properties and Inspections Maintain financial records in accordance with GAAP and, upon reasonable notice, permit any representatives designated by the Administrative Agent or any Lender to visit and inspect the financial records and the properties of the Borrower or any Significant Subsidiary during normal business hours and to discuss the affairs, finances and condition of the Borrower or any Significant Subsidiary with the officers thereof and independent accountants therefor.

  • Development of the Project 4.1 TSP's obligations in development of the Project: Subject to the terms and conditions of this Agreement, the TSP at its own cost and expense shall observe, comply with, perform, undertake and be responsible:

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