SUBSTITUTE TEST WELL Sample Clauses

SUBSTITUTE TEST WELL. If the initial drilling is abandoned prior to reaching contract depths due to heaving shale, saltwater flow, rock salt, dome formation, lost circulation, impenetrable formation, mechanical difficulty, or other conditions rendering further drilling impractical, any party who participated in drilling the Well shall have the option, but not the obligation, to propose and drill a substitute well (hereinafter referred to a “Substitute Test Well”). The parties who participate drilling the Well shall have the right to participate in other zones of said Well and/or drilling the Substitute Test Well by following the same procedure and the same elections set forth in Section III of this Agreement for the initial Well.
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SUBSTITUTE TEST WELL. In the event impenetrable conditions which render further drilling impracticable are met prior to reaching the Objective Depth in the Test Well, then, subject to the provisions of Section 5 above, for a period of ninety (90) days after making the election, either Party shall have the right to drill a substitute Test Well to the Objective Depth on the Leases or on lands pooled therewith. The substitute Test Well shall be drilled under the same terms as the Test Well and the substitute Test Well shall be deemed to be the Test Well for all purposes under this Agreement.
Sample 1Sample 2
SUBSTITUTE TEST WELL. In the event conditions render further re-entry operations impracticable prior to reaching the Objective Depth in the Test Well, then, for a period of ninety (90) days after making the election, either Party shall have the right to propose the drilling of a substitute Test Well to the Objective Depth on the Leases or on lands pooled therewith. If Participant elects to participate in drilling the substitute Test Well, the substitute Test Well shall be drilled under the same terms as the Test Well and the substitute Test Well shall be deemed to be the Test Well for all purposes under this Agreement.
Sample 1
SUBSTITUTE TEST WELL. In the event that, prior to reaching the Objective Depth, Ironhorse should encounter conditions which make further drilling imprudent, which conditions would cause a prudent operator to abandon the Well, Operator shall have the right, but not the obligation, within sixty (60) days after {A0046234.DOC} abandonment of the Initial Test Well, to commence a Substitute Test Well at a location mutually agreed to among the Operator and those Participants who elect to participate in such Substitute Test Well. In such case, each Participant shall have the election, to be exercised within forty-eight (48) hours after an election has been made to abandon the Initial Test Well and drill a Substitute Test Well, to participate in the drilling of the Substitute Test Well. Operator shall provide an AFE for the cost of drilling the Substitute Test Well to the Objective Depth, and shall invoice each consenting Participant for such costs, subject to a credit for any unused portion of the initial cash advance by such Participant, which invoice will be due and payable within five (5) days of receipt. Any Participant electing not to participate in such Substitute Test Well shall forfeit its interest in the Prospect and shall promptly furnish Operator with an assignment of its interest to Operator, to be distributed by Operator to those Participants who do elect to participate in the Substitute Test Well.
Sample 1
SUBSTITUTE TEST WELL. If, while drilling any well provided for herein, Operator encounters impenetrable substances or conditions, including the loss of the hole due to mechanical difficulties, which in the opinion of a reasonably prudent operator under the same or similar conditions would render further drilling impractical or hazardous, and such conditions prevent further drilling of the well, Participants, or any of them, shall have the right, but not the obligation, to participate in drilling a “Substitute Well” in order to reach the objective depth, provided actual drilling of the Substitute Well is commenced within ninety (90) days after the release of the drilling rig from the previous well. Any Substitute Well shall be drilled pursuant to all the terms and conditions of this Agreement.
Sample 1
SUBSTITUTE TEST WELL. In the event Impenetrable Conditions which render further drilling impracticable are met prior to reaching the Objective Depth in the Test Well, then, subject to the provisions of Section 1 above, for a period of ninety (90) days after making the election, either Party shall have the right to drill a substitute Test Well to the Objective Depth on the Leases or on lands pooled therewith. The substitute Test Well shall be drilled under the same terms as the Test Well and the substitute Test Well shall be deemed to be the Test Well for all purposes under this Agreement. If both Parties elect to drill the substitute Test Well, then such well shall be drilled by Xxxx-XxXxx. If neither Party elects to drill the substitute Test Well or if only Xxxx-XxXxx elects to drill the substitute Test Well, then this Agreement shall terminate. If Participant is the only Party electing to drill the substitute Test Well, then it shall have the right to do so and if it is drilled to the Objective Depth, Participant shall earn an assignment of 100% of Xxxx-XxXxx'x right, title and interest in and to the Lease(s) and the well shall not be subject to the provisions of the JOA), subject to the reservation of the overriding royalty interest described in Section 5 below. In such event, the Leases and the well shall no longer be subject to the provisions of the JOA.
Sample 1

Related to SUBSTITUTE TEST WELL

  • Acceptance Testing The MCP must have the capability to report all elements in the Minimum Data Set as set forth in the ODJFS Encounter Data Specifications and must submit a test file in the ODJFS-specified medium in the required formats prior to contracting or prior to an information systems replacement or update. Acceptance testing of encounter data is required as specified in Section 29(a)(v) of this Appendix.

  • Performance Tests Contractor shall perform Performance Tests in accordance with Section 11.2 of the Agreement and Attachment S.

  • Stability Testing Patheon may be requested to conduct stability testing on the Products in accordance with the protocols set out in the Specifications for the separate fees and during the time periods set out in Schedule C to a Product Agreement. Patheon will not make any changes to these testing protocols without prior written approval from Client. If a confirmed stability test failure occurs, Patheon will notify Client within one Business Day, after which Patheon and Client will jointly determine the proceedings and methods to be undertaken to investigate the cause of the failure, including which party will bear the cost of the investigation. Patheon will not be liable for these costs unless it has failed to perform the Manufacturing Services in accordance with the Specifications, cGMPs, and Applicable Laws. Patheon will give Client ail stability test data and results at Client’s request.

  • Qualified Substitute Timeshare Loans Pursuant to Section 6(g) hereof, on the related Transfer Date, the Seller hereby agrees to deliver or to cause the delivery of the Timeshare Loan Files relating to the Qualified Substitute Timeshare Loans to the Indenture Trustee or to the Custodian, at the direction of the Indenture Trustee, in accordance with the provisions of the Indenture and the Custodial Agreement. As of such related Transfer Date, the Seller does hereby transfer, assign, sell and grant to the Depositor, without recourse (except as provided in Section 6 and Section 8 hereof), any and all of the Seller’s right, title and interest in and to (i) each Qualified Substitute Timeshare Loan conveyed to the Depositor on such Transfer Date, (ii) the Receivables in respect of the Qualified Substitute Timeshare Loans due after the related Cut-Off Date, (iii) the related Timeshare Loan Documents (excluding any rights as developer or declarant under the Timeshare Declaration, the Timeshare Program Consumer Documents or the Timeshare Program Governing Documents), (iv) all Related Security in respect of such Qualified Substitute Timeshare Loan and (v) all income, payments, proceeds and other benefits and rights related to any of the foregoing (the property in clauses (i)-(v), being the “QSTL Assets”). Upon such sale, the ownership of each Qualified Substitute Timeshare Loan and all collections allocable to principal and interest thereon after the related Cut-Off Date and all other property interests or rights conveyed pursuant to and referenced in this Section 6(f) shall immediately vest in the Depositor, its successors and assigns. The Seller shall not take any action inconsistent with such ownership nor claim any ownership interest in any Qualified Substitute Timeshare Loan for any purpose whatsoever other than federal and state income tax reporting and GAAP consolidation. The Seller agrees that such Qualified Substitute Timeshare Loans shall be subject to the provisions of this Agreement and shall thereafter be deemed a “Timeshare Loan” for the purposes of this Agreement.

  • Completion of Review for Certain Subject Receivables Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the Transaction Documents. On receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Receivables and the Asset Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Review Report will indicate a Test Complete for the Receivables and the related reason.

  • Product Testing Upon request, Customer shall provide Operator a laboratory report for each Product delivery by Customer or Customer’s supplier. Operator will not be obligated to receive Contaminated Product for throughput through the Pipelines, nor will Operator be obligated to accept Product that fails to meet the applicable quality specifications for the Berths under the BAUTA and any Terminal Service Orders issued thereunder.

  • Completion of Asset Review for Certain Asset Review Receivables Following the delivery of the list of the Asset Review Receivables and before the delivery of the Asset Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if an Asset Review Receivable is paid in full by the related Obligor or purchased from the Issuer by GM Financial, the Seller or the Servicer according to the Program Documents. On receipt of any such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Asset Review Receivables and the Asset Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Asset Review Report will indicate a Test Complete for the related Asset Review Receivables and the related reason.

  • Completion of Repairs Borrower will commence any Repairs as soon as practicable after the date of this Loan Agreement and will diligently proceed with and complete such Repairs on or before the Completion Date. All Repairs and Capital Replacements will be completed in a good and workmanlike manner, with suitable materials, and in accordance with good building practices and all applicable laws, ordinances, rules, regulations, building setback lines and restrictions applicable to the Mortgaged Property. Borrower agrees to cause the replacement of any material or work that is defective, unworkmanlike or that does not comply with the requirements of this Loan Agreement, as determined by Lender.

  • Qualified Substitute Mortgage Loan A mortgage loan eligible to be substituted by the Company for a Deleted Mortgage Loan which must, on the date of such substitution, (i) have an outstanding principal balance, after deduction of all scheduled payments due in the month of substitution (or in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate principal balance), not in excess of the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have a Mortgage Loan Remittance Rate not less than, and not more than two percent (2%) greater than the Mortgage Loan Remittance Rate of the Deleted Mortgage Loan; (iii) have a remaining term to maturity not greater than and not more than one year less than that of the Deleted Mortgage Loan; (iv) comply with each representation and warranty set forth in Sections 3.01 and 3.02; and (v) be of the same type as the Deleted Mortgage Loan.

  • Completion of Review for Certain Review Receivables Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer in accordance with the terms of the Basic Documents. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Receivable, and the Review of such Review Receivables will be considered complete (a “Test Complete”). In this case, the related Review Report will indicate a Test Complete for such Review Receivable and the related reason.

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