Secondary Term. For each Quarterly Period ending after the end of the Primary Term, the Purchase Price shall be equal to the Index Price.
Secondary Term. Upon mutual written agreement, the Parties may elect to extend the Primary Term for an additional period of six (6) years by delivering written notice of such election on or prior to the date that is one (1) year prior to the expiration of the Primary Term (such additional period, the “Secondary Term”); provided, however, that, if Buyer elects to extend the Term pursuant to this Section 2.1(b), (i) the Parties will mutually agree upon the Contract Price prior to the commencement of the Secondary Term. In the event the Parties are unable to agree upon the Contract Price for the Secondary Term the Agreement will terminate in accordance with Section 2.1(a).
Secondary Term. This Agreement shall be for a secondary term (the "Secondary Term") as to each Program Year commencing on the day the Primary Term ends and ending on the earlier of:
(a) Payout of such Program Year; or
(b) the mutual agreement of the parties.
Secondary Term. The term of the oil and gas lease after production has been established, typically “as long thereafter as oil and gas is produced from the premises.” See also Habendum Clause and Primary Term. rights in property that may contain oil and gas or other minerals. Support Agreements Contracts in the oil and gas industry that encourage and “support” exploratory or development operations. Generally, one party agrees to contribute money or property to another if the other will drill a well on leases that it holds and provide the contributing party with information from tests conducted. For the contributing party, a support agreement is a purchase of geological or technological information. For the party receiving the support, the contribution lessens the cost or the risk of drilling operations. For further discussion, see Contribution Agreement, Acreage-Contribution Agreement, Bottom-Hole Agreement, and Dry-Hole Agreement.
Secondary Term. During the Secondary Term, the Net Energy to be sold by Cogenron and purchased by TU Electric will be dependent upon the Plant Output Condition then directed by TU Electric, and Cogenron agrees to operate the Cogeneration Facility at
Secondary Term. If at the end of the Primary Term, Mannatech -------------- determines continued ordering of the ALT*MED Product is warranted. The Parties may enter into five (5) successive series of twelve month ("Individual Term"), hereinafter, collectively the Secondary Term ("Secondary Term"). Mannatech shall have the option to review ALT*MED Product sales as contemplated in paragraph 1.1 within thirty (30) days of the conclusion of each Individual Term. Mannatech may choose to terminate this Agreement at its discretion without further obligation to ALT*MED.
Secondary Term. In the event the Parties agree to enter into the Secondary Term of this Agreement, Mannatech agrees to pay ALT*MED a royalty of $________ ("Royalty") for each ALT*MED Product sold by Mannatech. Such payment shall be tendered to ALT*MED only for those Products sold by Mannatech to consumers and/or Independent Associates ("Associates") or others who may from time to time purchase the Products for use, collectively "Purchasers".
Secondary Term. Any of the periods of three (3) years after the Primary Term that the Charter is extended pursuant to the terms thereof, not to exceed a total of fifteen (15) years, in addition to the Primary Term. Services Collectively, the documentation, management, xxxxxxx, operation, supervision and maintenance services for the FPSO, including, without limitation, the Redelivery Survey and the O&M FPSO Work to be provided by Contractor under this Agreement pursuant to its terms, as more fully described herein and in the Attachments hereto, which Services shall expressly exclude those to be performed in connection with the DTU Xxxxx, Christmas Tree, Riser Facilities, Umbilicals and the Fluid Transfer Lines (which shall be the exclusive responsibility of Company). Shutdown Any time under this Agreement commencing when there is a cessation of Crude Oil production or processing which is due to the default of, or breach of any obligations under this Agreement by any of Contractor Group. Shutdown Period Any period of time during the Term commencing when Shutdown first occurs and ending when the FPSO has recommenced processing Crude Oil.
Secondary Term. With regard to the extension of this Lease beyond the Primary Term, any reference to “…deemed by Lessee to be capable of production…” or “…deemed to be capable of production…” shall be stricken and replaced with the following language “…producing oil, gas or other liquid or gaseous hydrocarbons in paying quantities….” Furthermore, “operations” shall mean only the actual drilling, completing, reworking, recompleting, deepening, plugging back or repairing of a well in search for or in an endeavor to obtain production of oil or gas, conducted in good faith and with due diligence.
Secondary Term. During the Secondary Term, Employee, at his election, will either continue as -------------- an employee of the Company or, with the Company's approval, may elect to retire and fulfill his obligations to the Company during the Secondary Term in a consulting capacity. Whether as an employee or as a consultant, Employee shall continue to serve the Company as its Chairman of the Board throughout the Secondary Term unless Employee's successor as Chief Executive has been, or is, elected as the Chairman of the Board. In such event, Employee's title and duties for the remainder of the Secondary Term will be mutually agreed upon by Employee and the Company. In any event, Employee's primary responsibility during the Secondary Term shall be to assist the Company in transition matters, and to provide the Company with counsel, support and advice.
