Test Well Earning Sample Clauses

Test Well Earning. Subject to Article 3.00 of the Farmout & Royalty Procedure, and provided Farmee is not otherwise in default, Farmee shall earn one hundred (100%) percent of the Farmor's Pre- Farmout Working Interest in the Farmout Lands subject to the Overriding Royalty. Following earning, the Farmor will execute and deliver to the Farmee appropriate assignments, transfers, trust agreements or other documentation to confirm earning. In the event registration or transfer is not reasonably Farmor shall hold the interest in the Title Documents in trust for the benefit of the Farmee to the extent of the interest earned.
Sample 1
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Test Well Earning. A. Subject to Article 3.00 of the Farmout & Royalty Procedure, the Farmee shall earn to the base of the deepest formation logged and penetrated by the Test Well:
Sample 1
Test Well Earning. If the Farmee has fulfilled its obligations under Subclause 3.01A for the Test Well and the Farmee is not otherwise in default hereunder, the Farmee will, subject to Subclause 3.04A, earn the interests in the Farmout Lands set forth in the Head Agreement, effective as of the drilling rig release date for the Test Well. Subject to Subclause 3.04A, the Farmor will execute and deliver to the Farmee appropriate assignments, subleases, transfers, trust agreements or other documentation to confirm that earning.
Sample 1
Test Well Earning. Subject to Article 3.00 of the Farmout and Royalty Procedure, upon drilling the Test Well to Contract Depth and completing, capping or abandoning same, the Farmee shall earn the following interest, in the Farmout Lands:
Sample 1

Related to Test Well Earning

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Performance Period This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Performance Measure The specific representation of a process or outcome that is relevant to the assessment of performance; it is quantifiable and can be documented

  • Years of Service (i) A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Performance Cycle The Performance Cycle for this Award shall commence on May 1, 2005, and shall end on December 31, 2007.

  • Payout At the commencement of the period of leave, the College shall pay to the participant the moneys standing to his/her credit less any premiums or contributions deducted for the year, except as may otherwise be mutually agreed, it being understood that interest is not earned for the period of leave.

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