Examples of AFE in a sentence
Any Party, which has voted in favour of an AFE, which has been approved by the Operating Committee, shall sign an AFE form indicating its authorization thereof.
Approval of administrative and operating expense Budgets permits the Operator without prior approval of the Parties to issue AFE's covering the full Year and to record such expenditures in the Joint Account, except for major exceptional operating expenditures (e.g. workover of xxxxx) that shall require a separate approved AFE as stated in Section 2.4.1. above.
The Operator shall, within twenty-five (25) days following the end of each Month, prepare and forward to the Non-Operators a report (status of open AFEs) showing a comparison between the approved AFE amount, the cost to date and the estimated final cost for the work covered by each AFE.
Before entering into a commitment, the Operator shall, with the exception of expenditures mentioned in Section 2.3.2., request the Parties to authorise an AFE at a time when the main details of the relevant commitment or expenditure can be ascertained, but consistent with giving the Parties sufficient time to consider the matter.
Each Cash Call shall specify, in respect of each Advance, the amount of each currency required by major AFE and/or Budget category as requested by the Operating Committee, the bank account or accounts to which payment is to be made and the due date on which payment is required.