Decommissioning Security Agreement definition
Decommissioning Security Agreement means an agreement between the Designated Authority and the Contractor as mentioned in sub-Article 4.15;
Decommissioning Security Agreement means the Decommissioning Security Agreement approved by the Ministry or Designated Authority, as the case may be, under a Petroleum Agreement;
Decommissioning Security Agreement means an agreement between the Ministry and the Contractor as mentioned in Section 4.15;
Examples of Decommissioning Security Agreement in a sentence
If any Participant (“Defaulting Participant”) fails to pay in full its share of any Invoice or Advance by the due date in accordance with paragraph 4.4 or paragraph 4.6 of the Accounting Procedure or is in Default (as such term is defined in the Decommissioning Security Agreement) the Operator shall as soon as practicable give notice to all the Participants of such default and the date of its commencement (a “Default Notice”).
If any Participant (“Defaulting Participant”) fails to pay in full its share of any Invoice or Advance by the due date in accordance with paragraph 4.4 or paragraph 4.6 of the Accounting Procedure or is in Default (as defined in the Decommissioning Security Agreement) the Operator shall as soon as practicable give notice to all the Participants of such default and the date of its commencement (a “Default Notice”).
More Definitions of Decommissioning Security Agreement
Decommissioning Security Agreement means the decommissioning security agreement to be entered into pursuant to clause 26.3 as it may be amended from time to time. “Decommissioning Plan” has the meaning given to it in the Decommissioning Security Agreement. “Decommissioning Programme” means a programme approved in accordance with clause 13 to provide for the removal and disposal of Joint Property and performance of the obligations and liabilities associated with facilities not wholly removed. “Default Notice” has the meaning assigned to it in clause 17.1. “Defaulting Participant” has the meaning assigned to it in clause 17.1. “Development Plan” means a programme of development works to which the Secretary has given consent or which the Secretary has served in accordance with [Clause 17] of the Licence and “submission of a Development Plan” includes the formal and informal submissions of documentation to the Secretary in order to seek development and production consent for a Discovery. “Discovery” means any discovery of reserves of Petroleum. “Dollars” or “$” means dollars of the United States of America. “Early Surrender Area” shall have the meaning given to it in the Licence. “Environmental Loss” means any loss or damage (other than Consequential Loss) or any claim by or liability to any person, whether a Participant or not, (including any award of damages and any legal or other costs and expenses incurred in respect thereof and any payments made pursuant to clauses 8.2.1 and/or 8.2.3) in any such case caused by a discharge of Petroleum, pollutants or other contaminants into or onto any medium (including the sea, land, surface water, ground water and/or air) including (i) injury or damage to, or destruction of, natural resources or real or personal property; (ii) the cost of pollution control, clean-up, containment and removal; and (iii) the cost of restoration of natural resources; and (iv) to the extent recoverable under an indemnity at law, fines, penalties or other assessments.6 “Further Term” means any continuation or extension of the Licence beyond the Second Term granted by the Secretary pursuant to Clause [5] of the Licence. “Good Oilfield Practice” means the application of those methods and practices 6 See Guidance Notes on the inclusion of this definition and the amendments to clauses 6.2.4 and 22.2.2. customarily used in good and prudent oil and gas field practice in the United Kingdom Continental Shelf with that degree of diligence and prudence reasonably and ordinarily exercise...
Decommissioning Security Agreement means the Decommissioning Security Agreement referred to in clause 26.3 as it may be amended from time to time.
Decommissioning Security Agreement means an agreement between the Designated Authority and the Contractor as mentioned in sub-Article 4.13;
Decommissioning Security Agreement means the Decommissioning Security
Decommissioning Security Agreement means the Decommissioning Security Agreement approved by the Ministry under a Petroleum Agreement;