SECTION TWELVE – DISCOVERY AND ASSESSMENT Sample Clauses

SECTION TWELVE – DISCOVERY AND ASSESSMENT. Notification of Discovery Any Discovery in the Contract Area must be notified by the Consortium Members to ANP on an exclusive basis within no more than seventy-two (72) hours.
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SECTION TWELVE – DISCOVERY AND ASSESSMENT. Notification of Discovery Any Discovery in the Contract Area must be notified by the Consortium Members to ANP, on an exclusive basis, within no more than seventy-two (72) hours. Assessment, Discovery Assessment Plan, and Final Discovery Assessment Report The Consortium Members may, at their discretion, proceed to the Assessment of a Discovery at any time during the Exploration Phase. If the Consortium Members decide to proceed to the Discovery Assessment, they must submit for approval by ANP a proposal for a Discovery Assessment Plan. ANP shall have a term of up to sixty (60) days of receipt of the Discovery Assessment Plan to approve it or reasonably notify the Consortium Members for them to make modifications. The Consortium Members shall have a term of up to thirty (30) days of notification to submit the modifications to ANP, repeating the procedure provided for in paragraph 12.4. Any changes suggested by the Consortium Members shall be communicated to ANP, repeating the procedure provided for in paragraph 12.4. The Consortium Members shall be authorized to start implementing the Discovery Assessment Plan after its approval or upon authorization by ANP. Once the Discovery Assessment is completed, the Consortium Members shall submit to ANP a Final Discovery Assessment Report, which shall indicate and justify any proposal for withholding of the Development Area of the Commercial Discovery.
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Related to SECTION TWELVE – DISCOVERY AND ASSESSMENT

  • Screening and Assessment Grantee shall:

  • Environmental Assessment Buyer shall have the right for a period commencing upon execution of this Agreement by both parties and ending on November 28, 2012, to conduct an environmental assessment of the Assets, at Buyer’s sole risk, liability and expense. Seller shall make available to Buyer, during the environmental assessment period described above, Seller’s historical files regarding prior operations on the Assets, and provide Buyer and its representatives with reasonable access to the Assets to conduct the environmental assessment. Buyer shall provide Seller three (3) days prior written notice of a desired date(s) for such assessment and Seller shall have the right to be present during any assessment and, if any testing is conducted pursuant to Seller’s express prior written consent, Seller may require splitting of all samples. Notwithstanding any other provision of this Agreement to the contrary, Buyer shall not have the right to drill any test, monitor or other xxxxx or to extract samples of any air, soil, water or other substance from the Assets without Seller’s express prior written consent. If Buyer proposes a reasonable request to drill a test well or extract a sample pursuant to a systematic and customary procedure for the assessment of the environmental condition of the Assets and Seller refuses to grant its consent to such a well or sampling, then Buyer shall have the right, for a period of seventy-two (72) hours following notification of Seller’s refusal to consent, to deliver written notice to Seller of Buyer’s election to exclude from this transaction the portion of the Assets affected by such proposed test well or sample, and the Purchase Price shall be adjusted accordingly by the Allocated Value of such portion of the Assets so excluded. Under no circumstances whatsoever shall Seller ever be obligated to grant its consent to any such test xxxxx or sampling proposed by Buyer, and Buyer’s sole and exclusive remedy for any refusal by Seller to grant its consent shall be the limited right contained in the preceding sentence to exclude the affected Assets from the transactions contemplated by this Agreement. If Buyer fails to exercise the right to exclude such Assets by written notice to Seller delivered prior to the expiration of the seventy-two hour period described above, then Buyer shall be conclusively deemed to have waived such right and shall be obligated to purchase the affected Assets without conducting such testing or sampling or any adjustment of the Purchase Price unless otherwise provided in this Agreement.

  • ADDITIONAL REPORTS Upon ADMINISTRATOR’s request, CONTRACTOR shall make such additional reports as required by ADMINISTRATOR concerning CONTRACTOR's activities as they affect the services hereunder. ADMINISTRATOR shall be specific as to the nature of information requested and allow up to thirty (30) calendar days for CONTRACTOR to respond.

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