Exploration Committee definition
Examples of Exploration Committee in a sentence
The Conversion Exploration Committee (the “Committee”) of Texas Pacific Land Trust (the “Trust”) was formed on June 23, 2019 by the Trustees of the Trust (the “Trustees”).
Exploration Costs PT-RTZ will pay all Exploration Costs approved by the relevant Exploration Committee for Exploration in ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇ until the Exploration Obligation has been satisfied, including the expenditure of not less than $40,000,000 in respect of Contract Area Block A.
Costs Monthly statements of the costs of each Joint Operations Feasibility Study and Sole Risk Venture Feasibility Study will be prepared by the Operator and submitted to the relevant Exploration Committee or Operating Committee or the Participant undertaking the Sole Risk Venture, as appropriate, so that actual costs of the Feasibility Study may be monitored.
Exploration Committee meetings shall be held within 30 days of the receipt of final reports for the previously completed program.
In the event the Exploration Committee is not in unanimous agreement on the proposed exploration programs, Stornoway shall have the final and casting vote.
During the Option, an Exploration Committee shall be formed comprising two persons appointed by each of Stornoway and Twin.
The Chairman of the Exploration Committee will be a representative of De Beira or his nominated representative who must give approval in writing, on behalf of the Exploration Committee, of all Exploration Expenditures and provide notice of the approval to the Owners and De Beira before such expenditure is incurred.
The Exploration Committee shall approve all exploration programs.
During the Option Period, the parties shall form the Joint Exploration Committee by each appointing two persons.
Non- binding recommendations of the Exploration Committee shall be reported to the respnective bargaining teams no later than May 1, 2020.