Timely Well Operations Sample Clauses

Timely Well Operations. 21 9.7 Timely Platform/Development Facilities Operations ................................................21
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Timely Well Operations. Unless otherwise provided, an approved well shall be commenced within one hundred twenty (120) days after the date when the last applicable election on that well may be made. Wells shall be deemed to have commenced on the day charges coxxxxxe under the drilling contract for that well. If the Operator does not commence the drilling of an approved well within the one hundred twenty (120) day time frame, the other Participating Parties in that well may select a substitute Operator to drill the approved well. In all events, including the occurrence of a Force Majeure, if the substitute Operator fails to commence actual drilling operations on an approved well within one hundred eighty (180) days from the proposal of the approved well, the proposal of the well and its approval will be deemed to have been withdrawn. Subject to Exhibit "C", if a proposal for a well is deemed to have been withdrawn, all costs incurred in the preparation for or in furtherance of that well will be chargeable to the Parties who voted to participate in the well proposal for that well.
Sample 1
Timely Well Operations. Unless otherwise provided, an approved well shall be commenced within one hundred eighty (180) days after the date when the last applicable election on that well may be made. Wells shall be deemed to have commenced on the day charges coxxxxxe under the drilling contract for that well. If the Operator fails to commence actual drilling operations on an approved well within one hundred eighty (180) days from the proposal of the approved well, the proposal of the well and its approval will be deemed to have been withdrawn. Subject to Exhibit "C", if a proposal for a well is deemed to have been withdrawn, all costs incurred in the preparation for or in furtherance of that well will be chargeable to the Parties who voted to participate in the well proposal for that well. Notwithstanding the above, each one hundred eighty (180) day period set forth above shall be three hundred sixty-five days in the case of an approved operation for a well on Chevron's existing Platform "A" on West Delta Block 109.
Sample 1Sample 2
Timely Well Operations. 26 9.7 TIMELY PLATFORM/DEVELOPMENT FACILITIES OPERATIONS ................................................26
Sample 1
Timely Well Operations. Unless otherwise provided, an approved well shall be commenced within one hundred and twenty (120) days after the date when the last applicable election on that well maybe made. Wells shall be deemed to have commenced on the day charges commence xxxxx the drilling contract for that well. If the Operator does not commence actual drilling operations on an approved well within one hundred and twenty (120) days from the last applicable election on the approved well, the proposal of the well and its approval will be deemed to have been withdrawn, Regardless of whether or not the well is commenced, all costs incurred by the Operator, attributable to an approved operation, shall be paid by the Participating Parties.
Sample 1
Timely Well Operations. At its election, Operator may use its own or an Affiliate's drilling equipment, derrick barge, tools, or machinery to conduct drilling operatxxxx, xut the work shall be (i) performed by Operator or its Affiliate acting as an independent contractor, (ii) approved by written agreement with the Participating Parties before commencement of operations, and (iii) conducted under the same terms and conditions and at the same rates as are customary and prevailing in competitive contracts of third parties doing work of similar nature.
Sample 1
Timely Well Operations. Unless otherwise provided, an approved well shall be commenced within one hundred-eighty (180) days after the date when the last applicable election on that well may be made. Wells shall be deemed to have commenced on the day charges coxxxxxe under the drilling contract for that well. The time frame for commencement of a well by the Operator may be extended due to a Force Majeure for an additional period of up to one hundred-eighty (180) days. If an approved well has not been commenced by the Operator within the applicable time frame, the proposal of the well and its approval will be deemed to have been withdrawn unless the other Participating Parties in that well select a substitute Operator to drill the approved well. If the substitute Operator fails to commence actual drilling operations on an approved well within thirty (30) days after designation as the substitute Operator, but in no event, including the occurrence of a Force Majeure, one (1) year after the date when the last applicable election on that well may be made, the proposal of the well and its approval will be deemed to have been withdrawn. Subject to Exhibit "C", if a proposal for a well is deemed to have been withdrawn, all costs incurred in the preparation for or in furtherance of that well will be chargeable to the Parties who voted to participate in the well proposal for that well.
Sample 1
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Related to Timely Well Operations

  • Oil and Gas Operations (a) All wxxxx included in the Oil and Gas Interests of the Company have been drilled and (if completed) completed, operated and produced in accordance with generally accepted oil and gas field practices and in compliance in all respects with applicable oil and gas leases and applicable laws, rules and regulations, except where any failure or violation could not reasonably be expected to have a Material Adverse Effect on the Company; and

  • Interim Operations (a) The Company covenants and agrees as to itself and its Subsidiaries that, after the date hereof and prior to the Effective Time (unless Parent shall otherwise approve in writing (such approval not to be unreasonably withheld, delayed or conditioned)), and except as otherwise expressly permitted by this Agreement or as required by a Governmental Entity or applicable Laws, the business of it and its Subsidiaries shall be conducted in all material respects in the ordinary course and, to the extent consistent with the foregoing, the Company and its Subsidiaries shall use their respective commercially reasonable efforts to preserve their business organizations substantially intact, maintain satisfactory relationships with Governmental Entities, NERC, PJM, customers and suppliers having significant business dealings with them and keep available the services of their key employees; provided, however, that no action taken by the Company or its Subsidiaries with respect to matters specifically addressed by clauses (i)-(xx) of this Section 6.1(a) shall be deemed a breach of this sentence unless such action would constitute a breach of such other provision. In furtherance of the foregoing, from the date of this Agreement until the Effective Time, except (A) as otherwise expressly permitted by this Agreement, (B) as Parent may approve in writing (such approval not to be unreasonably withheld, delayed or conditioned), (C) as is required by applicable Law or any Governmental Entity or (D) as set forth in Section 6.1(a) of the Company Disclosure Letter, the Company will not and will not permit its Subsidiaries to:

  • Operator The Optionee shall be the operator for purposes of developing and executing exploration programs.

  • No Operations Buyer does not currently have any business operations or material assets. Upon consummation of the Transactions, Buyer shall not have in excess of $10,000 in debts, obligations or liabilities of any kind or nature.

  • Co-operation The Custodian shall cooperate with and supply necessary information to the entity or entities appointed by the Trust to keep the books of account of the Fund and/or compute the value of the assets of the Fund. The Custodian shall take all such reasonable actions as the Trust may from time to time request to enable the Trust to obtain, from year to year, favorable opinions from the Trust's independent accountants with respect to the Custodian's activities hereunder in connection with (a) the preparation of the Trust's reports on Form N-1A and Form N-SAR and any other reports required by the Securities and Exchange Commission, and (b) the fulfillment by the Trust of any other requirements of the Securities and Exchange Commission.

  • Lawful Operations, etc Each Credit Party and each of its Subsidiaries: (i) holds all necessary foreign, federal, state, provincial, local and other governmental licenses, registrations, certifications, permits and authorizations necessary to conduct its business and own its properties; and (ii) is in full compliance with all requirements imposed by law, regulation or rule, whether foreign, federal, state or local, that are applicable to it, its operations, or its properties and assets, including, without limitation, applicable requirements of Environmental Laws, except for any failure to obtain and maintain in effect, or noncompliance that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

  • Profitable Operations Borrower will not permit Consolidated Net Income (a) for any fiscal year, commencing with the fiscal year ending December 31, 2002, to be less than $1.00 and (b) for any two consecutive fiscal quarters (treated as a single accounting period) to be less than $1.00.

  • Business Operations Company and Shareholders shall operate the Business and use the Assets in the ordinary course. Company and Shareholders shall not enter into any lease, contract, indebtedness, commitment, purchase or sale or acquire or dispose of any capital asset relating to the Business or the Assets except in the ordinary course of business. Company and Shareholders shall use their best efforts to preserve the Business and Assets intact and shall not take any action that would have an adverse effect on the Business or Assets. Company and Shareholders shall use their best efforts to preserve intact the relationships with payors, customers, suppliers, patients and others having significant business relations with Company. Company and Shareholders shall collect its receivables and pay its trade payables in the ordinary course of business. Company and Shareholdes shall not introduce any new method of management, operations or accounting.

  • Post-Closing Operations After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy events as they materialize, as Seller recognizes Company is a publicly traded company and has certain material obligations of disclosure pursuant to state and federal laws, statutes and regulations.

  • Ongoing Operations From the Effective Date through Closing:

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