First Commercial Production Date definition

First Commercial Production Date means the first day of ninety (90) days when the Adjusted Net Production Rate has averaged no less than ten thousand (10,000) BOE per day over any period not exceeding one hundred and twenty (120) days.

First Commercial Production Date means has the meaning set forth in Exhibit D.

First Commercial Production Date means, for each Development Area, the first day of ninety (90) days when the Adjusted Net Dry Gas Production Rate or the Adjusted Net Oil Production Rate, as the case may be, has averaged no less than the Commercial Production Rate within any period not exceeding one hundred and twenty (120) days.

Examples of First Commercial Production Date in a sentence

• Pursuant to Article 19 of the Contract, Petroleum Costs shall start being charged as from the Effective Date, while Remuneration shall start being charged as from the occurrence of the First Commercial Production Date.

• If there is a Deemed Mine Extension Event on or after the Infrastructure Completion Date, then the ninety (90) Day period after the Infrastructure Completion Date to achieve the First Commercial Production Date will be automatically extended by the duration of the Force Majeure Event, government action or failure to act or ICD Deemed Extension that gives rise to the Deemed Mine Extension Event.

• As from the First Commercial Production Date, SIMFER S.A. and its Direct Sub-Contractors participating directly in the implementation of the Project and to the extent of this participation will be liable for the payment, in respect of the activities contemplated in this Article, of any Tax listed in Article 28, and in accordance with the provisions of this Article, and the exemptions or adaptations provided for in Article 28 will also apply.

• With effect from the First Commercial Production Date, SIMFER S.A. and its Direct Sub- Contractors will be liable, for their activity relating to the Project, to pay any fees and customs Legislation in Force with the exception of what follows.

• Rarely are more than three significant figures acceptable: e.g., 2.34 nmol/L, NOT 2.3399374 nmol/L.

• SIMFER S.A. is able to achieve the First Commercial Production Date in accordance with Article 7.2(b).

More Definitions of First Commercial Production Date

First Commercial Production Date means the date starting from which the first iron ore production is exported for marketing for a period of more than 30 consecutive Days.