First Additional Exploration Period definition

First Additional Exploration Period means the additional period of two (2) Contract Years after the Initial Exploration Period pursuant to sub-clause 2(3), as may be extended under this Contract;

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First Additional Exploration Period means the additional period of two (2) Contract Years after the Initial Exploration Period pursuant to sub-clause 2(3), as may be extended under this Contract; Production Sharing Contract Block L27 Ministry of Energy Page 10 "Fiscal Year" means a period of twelve (12) consecutive months corresponding to the year of income as defined in the Income Tax Act of Kenya;

First Additional Exploration Period shall have the meaning set forth in Article 4.3.

Examples of First Additional Exploration Period in a sentence

• The First Additional Performance Guarantee shall remain in effect until sixty (60) Days following the end of the First Additional Exploration Period after the corresponding verification of CNH of full compliance with the obligations set forth in this period.

• In the event that during the Initial Exploration Period, the Contractor carries out additional Work Units to those committed in accordance with Article 4.2, the Contractor may request the recognition of such Work Units for the First Additional Exploration Period.

• Compliance with the minimum percentages of national content shall be verified by the Ministry of Economy upon termination of the Initial Exploration Period, the First Additional Exploration Period, the Second Additional Exploration Period and the Appraisal Period, as it corresponds, in terms of the Methodology and the Applicable Laws.

• CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the Minimum Program Increase, or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to Industry Best Practices and the Applicable Laws.

• Subject to this Article 4.4, the Contractor may request, by written notice to CNH with at least sixty (60) Days prior to the termination of the First Additional Exploration Period, an extension of the Exploration Period for three (3) additional Years (the “Second Additional Exploration Period”).

• CNH shall be entitled to draw on the First Additional Performance Guarantee to collect any unliquidated damages due to the failure to comply with any work commitment for the First Additional Exploration Period.

More Definitions of First Additional Exploration Period

First Additional Exploration Period has the meaning given to it in clause 3.3.1.2

First Additional Exploration Period means the period of one Contract Year beginning upon termination of the Initial Exploration Period, which CNH may grant the Contractor to continue conducting Surface Reconnaissance and Exploration, Exploration and Appraisal activities in the Contract Area in accordance with Article 4.3.

First Additional Exploration Period means the additional period of two (2) Contract Years after the Initial Exploration Period pursuant to sub­clause 2(3), as may be extended under this Contract;