Examples of First Additional Exploration Period in a sentence
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.
Subject to this Article 4.4, the Contractor may request, by written notice to the 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”).
The Contractor may request, by written notice to the CNH with at least sixty (60) Days prior to the termination of the First Additional Exploration Period, the extension of this period in order to complete ongoing activities contemplated in the Exploration Plan that for reasons not attributable to the Contractor are impossible to conclude within the period referred to in this Article 4.3. The CNH will approve the extension in terms of the Applicable Laws.
In the event that during the First Additional Exploration Period, the Contractor carries out additional Work Units to those committed in accordance with Article 4.3, the Contractor may request the recognition of such Work Units for the Second Additional Exploration Period.
Notwithstanding the obligations to access to the First Additional Exploration Period, the Contractor may conduct the Work Units equivalent to one (1) Well during the First Additional Exploration Period, in the event that it has committed to perform the Work Units equivalent to two (2) Xxxxx as Minimum Program Increase.
The 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 the Industry Best Practices and the Applicable Laws.
Subject to this Article 4.4, by written notice to CNH at least sixty (60) Days prior to the end of the First Additional Exploration Period, the Contractor may request an extension of the First Additional Exploration Period for one additional Contract Year following the termination of the First Additional Exploration Period.
The Contractor may request such extension only if it: (i) has fully complied with the Minimum Work Program during the Initial Exploration Period, and (ii) agrees to drill one additional Well in the Contract Area during the First Additional Exploration Period with the same characteristics as those provided for the Minimum Work Program.
During the Initial Exploration Period, First Additional Exploration Period or Second Additional Exploration Period, as the case may be, the Contractor may submit to CNH for approval a Work Program and Budget for Appraisal activities related to the relevant Discovery, in which case the provisions of Article 5.2 shall apply.
The Contractor may request such extension only if it: (i) has fully complied with the Work Units required for the Initial Exploration Period in accordance with Article 4.2 and (ii) agrees to perform additional Work Units, equivalent to one (1) exploratory Well during the First Additional Exploration Period in accordance with Annex 5.