Common use of Substitute Xxxxx Clause in Contracts

Substitute Xxxxx. If any obligatory Exploration Well is abandoned due to events or problems as set out in Article ‎3.2.1(a), ‎(b), ‎(c) and ‎(d) and, at the time of such abandonment, the Exploration Costs for such Well have equaled or exceeded thirty million Dollars ($30,000,000), for all purposes of this Contract, the Contractor shall be deemed to have fulfilled the Minimum Work Program obligations for the relevant period. If any obligatory Exploration Well is abandoned due to insurmountable technical problems, and if at the time of such abandonment, the Exploration Costs for such Well are less than thirty million Dollars ($30,000,000) then the Contractor shall have the option to either:

Substitute Xxxxx. If any obligatory Exploration Well is abandoned due to events or problems as set out in Article ‎3.2.1(a3.2.1 ‎(a), ‎(b), ‎(c) and ‎(d) and, at the time of such abandonment, the Exploration Costs for such Well have equaled or exceeded thirty million Dollars ($30,000,000), for all purposes of this Contract, the Contractor shall be deemed to have fulfilled the Minimum Work Program obligations for the relevant period. If any obligatory Exploration Well is abandoned due to insurmountable technical problems, and if at the time of such abandonment, the Exploration Costs for such Well are less than thirty million Dollars ($30,000,000) then the Contractor shall have the option to either:

Substitute Xxxxx. If any obligatory Exploration Well is abandoned due to events or insurmountable technical problems as set out in Article ‎3.2.1(a3.2.1, items (b), ‎(b), ‎(c(c) and ‎(d(d) and, at the time of such abandonment, the Exploration Costs for such that Well have equaled equal or exceeded thirty exceed fifteen million Dollars ($30,000,00015MM), for all purposes of this Contract, the Contractor shall will be deemed considered to have fulfilled the Minimum Work Program its minimum work obligations for the relevant periodperiod in question. If any obligatory Exploration Well is abandoned due to insurmountable technical problemsproblems and if, and if at the time of such abandonment, the Exploration Costs for such that Well are less than thirty fifteen million Dollars ($30,000,000) then 15MM), the Contractor shall have will choose between the option to eitherfollowing options: