Approved AFE definition

Approved AFE means an AFE approved by the Operating Committee pursuant to Section 3.2(g) or deemed approved under Section 3.7(c).
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Approved AFE means the AFE approved by the Borrower and the Manager and dated March 12, 2008 setting forth $470,416,641.00 as the amount of all projected payments of Project Costs to construct the Vessel through the Construction Completion Date, as certified by the Borrower and provided to the Administrative Agent and the Technical and Environmental Consultant;
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Approved AFE means the AFE's for each well in the Drilling Program (as herein defined) which are approved by Bank prior to the Effective Date.
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Examples of Approved AFE in a sentence

  • Casing Point shall be defined as that point in time when the ITW (or Substitute Well therefor) has reached its Objective Depth and all open hole logs and tests have been conducted in accordance with the Approved AFE.

  • RIDGEWOOD shall bear and pay thirty percent (30.0%) of the actual costs to drill and test the ITW to Casing Point ; however, if prior to reaching Casing Point the actual aggregate cost of the ITW, and any Substitute Well therefor, exceeds one hundred percent (100%) of the dry hole cost estimate provided for in the Approved AFE (“ Promote Cap”), RIDGEWOOD shall bear and pay fifteen percent (15%) of the actual costs to drill and test the ITW thereafter.

  • Contemporaneously with the execution of this Agreement, RIDGEWOOD agrees to execute and deliver to NEWFIELD a counterpart copy of the Approved AFE.

  • Each AFE issued by the Operator to implement an Approved Operation shall be deemed an Approved AFE in accordance with Section 3.2(c) and each Party shall consent to such Approved AFEs under any applicable Operating Agreement.

  • Operator shall promptly issue supplements to any Approved AFE that it reasonably anticipates will exceed the estimated expenditures thereunder by one hundred twenty percent (120%) of the budgeted amount subject to approval by Unanimous Consent of the Operating Committee.

  • The Administrative Agent shall have received a copy of the Approved AFE and the Master Construction Schedule, each certified as true and complete by an Authorized Officer of the Borrower, which shall be reviewed and approved by the Technical and Environmental Consultant on behalf of the Administrative Agent.

  • Whenever Borrower anticipates that the actual cost of any project that is the subject of an Approved AFE will exceed the AFE amount Approved by Administrative Agent, Borrower will promptly notify Administrative Agent in writing and (a) describe in reasonable detail the cause(s) of the anticipated cost overrun and (b) identify to Administrative Agent the source of funds that Borrower proposes to use to pay those excess costs.

  • The maximum amount that may be advanced for any well in the Drilling Program shall be limited to the lesser of 80% of (i) the Approved AFE for such well, or (ii) the actual cost to Borrower of such well.


More Definitions of Approved AFE

Approved AFE means an AFE approved by the Operating Committee pursuant to
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Related to Approved AFE

  • Approved Auditor means a person who is:

  • Approved Valuer means, in relation to a Ship, at any time during the Security Period, any of the firms listed in Schedule 8 (List of Approved Valuers) or any other firm or firms of shipbrokers approved in writing by the Facility Agent acting with the authorisation of the Majority Lenders.

  • Approved/Approval means the approval in writing.

  • Approved Appraiser means any of the following: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, H ▇▇▇▇▇▇▇▇ & Co. Ltd., London, ▇.▇. ▇▇▇▇▇▇ Shipbrokers, Norway, or Fearnley AS, Norway.

  • Approved Vendor means the entity approved by the IPA under the ABP to be eligible for an award of an Agreement (as a Seller) under the ABP.