Economic Date definition

Economic Date means 00:01 hours (London time) on 1 January 2006;

Economic Date means 00.01 hours on [ ];

Economic Date means 1st July 2008;

Examples of Economic Date in a sentence

• The value of any Overlift and Underlift of a field shall be taken to be the average price per metric tonnes achieved from sales in the months subsequent to the Economic Date.

• Where no sales have occurred in the prior month then the actual sales in the months subsequent to the Economic Date as adjusted for the premium or discounts in current contracts will be used.

• The Seller shall indemnify and keep the Purchaser indemnified for any amount which the Purchaser is required to pay pursuant to any notice issued under the aforesaid Act and which related to work performed in respect of the Interests prior to the Economic Date provided the Purchaser has used all reasonable endeavours to establish the validity of such notice.

• Any repayment of PRT in connection with the Interests arising otherwise than in respect of the Seller’s (or its Affiliates’) period of ownership prior to the Economic Date shall be the entitlement of the Purchaser.

• The value of any Overlift/Underlift of a Field shall be taken to be the average price per barrel achieved from sales in the month prior to the Economic Date.

More Definitions of Economic Date

Economic Date means 1 July 2020;

Economic Date means 00:00 hours (Greenwich Mean Time) at the beginning of 1st January 2010;

Economic Date means 00:01 hours (London time) on 1 January 2003;

Economic Date means 00:01 hours (London time) on 1 October 2004;

Economic Date means 1 January 2000 in respect of the Transferred Interests;

Economic Date means 1 January 2017;

Economic Date means 1 January 2017; “Encumbrance” means any claim, pledge, charge, option, lien (other than liens arising by operation of law in the ordinary course of trading), assignment, mortgage, debenture, hypothecation, security interest, title retention, obligation to purchase an interest, pre-emption right or other rights of any third persons, or any agreement to create any of the above; “EG Government” means the government of Equatorial Guinea; “Environment” means living organisms including the ecological systems of which they form part and the following media: air (including air within natural or man-made structures, whether above or below ground); water (including territorial, coastal and inland waters, water under or within land and water in drains and sewers); land (including land under water); soil and land and any ecological systems and living organisms supported by these media; “Environmental” means relating to the Environment; “Environmental Indemnity Claim” means any claim made by a Purchaser under Clause 13.2; “Environmental Law” means all laws, international treaties, national, federal, provincial, state or local statutes or regulations (including by-laws and other subordinate legislation), the common law, and any codes and conventions of law (having legal effect) as amended from time to time to which any member of the Retained Group or the Group Companies is subject and any obligations owed thereunder or rules in respect thereof, from time to time, in any relevant jurisdiction (including any guidelines, notes for industry and decommissioning programmes in effect from time to time, in each case having legally binding effect) concerning harm or damage to or protection of the Environment or the provision of remedies in respect of or compensation for harm or damage to the Environment, worker or public health and safety, pollution or decommissioning, abandonment, removing or making safe any property (including platforms, pipelines, plant, machinery, xxxxx (including well and drill cuttings), facilities and all other offshore and onshore installations and structures); “Environmental Liabilities” means any claims, demands, actions, proceedings, costs, charges, expenses, losses, liabilities or obligations incurred in relation to or arising out of any breach of Environmental Law, arising in connection with any of the assets of the Group Companies, including in relation to cleaning up, decontamination of, removing and disposing of debris or any property (incl...