STOPPAGE OF WORK BY JOINT VENTURE Sample Clauses

STOPPAGE OF WORK BY JOINT VENTURE. Notwithstanding the provisions of paragraph 3 with respect to the depth to be drilled, the Joint Venture shall have the right to direct the stoppage of the work to be performed by the Contractor hereunder at any time prior to reaching the Contract Depth and even though Contractor has made no default hereunder. If Joint Venture exercises its right to discontinue drilling a well, the Joint Venture will not receive a refund for any unused portion of the Drilling Price allocable to the discontinued well but the Joint Venture may direct Contractor to apply the unused portion of the Drilling Price to the intangible cost of another well that the Joint Venture shall specify. The unused portion of the Drilling Price will be determined as follows: 3 Contractor shall determine a sum equal to all the actual expenses reasonably and necessarily incurred up to the date the Joint Venture notified Contractor to discontinue drilling plus such additional expenses reasonably and necessarily incurred in order for Contractor to cease operations, including plugging and abandoning the hole, and dismantling the rig plus the sum of 15% of such total actual expenses. This sum shall be deducted from the Drilling Price of the Venture Well. The resulting difference shall be the unused portion of the price.
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STOPPAGE OF WORK BY JOINT VENTURE. 3 the Drilling Price to the intangible cost of another well that the Joint Venture shall specify. The unused portion of the Drilling Price will be determined as follows: Contractor shall determine a sum equal to all the actual expenses reasonably and necessarily incurred up to the date the Joint Venture notified Contractor to discontinue drilling plus such additional expenses reasonably and necessarily incurred in order for Contractor to cease operations, including plugging and abandoning the hole, and dismantling the rig plus the sum of 15% of such total actual expenses. This sum shall be deducted from the Drilling Price of the Re-Entry and/or Venture Wellx. Xxe resulting difference shall be the unused portion of the price.

Related to STOPPAGE OF WORK BY JOINT VENTURE

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  • Contract Negotiations Service Company shall advise Provider with --------------------- respect to and negotiate, either directly or on Provider's behalf, as appropriate, such contractual arrangements with third parties as are reasonably necessary and appropriate for Provider's provision of Dental Care, including without limitation negotiated price agreements with third party payors, alternative delivery systems, or other purchasers of group dental care services; provided that no contract or arrangement regarding the provision of Dental Care shall be entered into without Provider Consent.

  • Commencement of Work Upon Contractor’s receipt from Owner of the limited notice to proceed (“Limited Notice to Proceed” or “LNTP”), Contractor shall promptly commence with the performance of the portion of the Work specified in such LNTP; provided that the Parties have executed a Change Order defining the LNTP Work. The LNTP shall be issued in the form attached hereto as Attachment H, Schedule H-1. Contractor shall not, and shall not be obligated to, commence performance of such Work until receipt from Owner of such LNTP.

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