Minimum Expenditure Obligation definition

Minimum Expenditure Obligation means that amount which shall be the minimum amount to be spent by the Contractor as specified in Article 6.2.
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Minimum Expenditure Obligation means the amounts set out in Article 4.2 of this Agreement for the Initial Period, the First Extension Period and the Second Extension Period, respectively;
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Minimum Expenditure Obligation means the amounts set out at the end of, respectively the First Phase, the Second Phase and the Third Phase in Article 3 (Lessee’s Exploration Work Commitments).
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Examples of Minimum Expenditure Obligation in a sentence

  • The Minimum Expenditure Obligation shall be deemed to have been met provided that the Minimum Work Obligations under Annex E are fulfilled.

  • The aggregate amount of the Bank Guarantee and Parent Company Guarantee shall be an amount equal to One Hundred percent (100%) of the total Minimum Expenditure Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Exploration Block.

  • Faze Istražnog Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Exploration Block, while the amount of the Parent Company Guarantees shall be equal to seventy percent (70%) of the total Minimum Expenditure Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Exploration Block.

  • The aggregate amount of the Bank Guarantee and Parent Company Guarantee shall be an amount equal to One Hundred percent (100%) of the total Minimum Expenditure Obligation in respect of the Phase I of the Exploration Period to be undertaken by the Investor in the Exploration Block.

  • If the Minimum Work Obligations in respect of the five (5) Years of the Exploration Period havebeen satisfied and the Contract terminated solely by reason of unsuccessful or non-commercial Exploration as contemplated by Article 3.12, the Minimum Expenditure Obligation shall be deemed to have been satisfied.

  • Notwithstanding the foregoing, if the Minimum Work Obligation in respect of the first five (5) Years of the Exploration Period has not been satisfied and the Contract terminated solely by reason of unsuccessful or non-commercial Exploration as contemplated by Article 3.12, the Minimum Expenditure Obligation shall be deemed to have been satisfied.

  • Subject to Article 3.3, if, at the end of any Phase, the Actual Expenditure incurred by the Lessee during that Phase (taking account of any amount carried forward pursuant to Article 3.4) does not equal or exceed the Minimum Expenditure Obligation for that Phase, the Bank Guarantee shall provide for the payment thereunder to the Lessor of the full amount of the shortfall.

  • The amount of the bank guarantee shall be an amount equal to thirty percent (30%) of the Minimum Expenditure Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Agreement Area whereas the amount of the parent company amount shall be an amount equal to seventy percent (70%) of the Minimum Expenditure Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Agreement Area.

  • The aggregate amount of the Bank Guarantee and the Parent Company Guarantee shall be an amount equal to the amount of one hundred percent (100%) of the total Minimum Expenditure Obligation in respect of Phase I of the Exploration Period to be undertaken by the Investor in the Exploration Block.

  • The amount of the bank guarantee shall be an amount equal to One Hundred percent (100%) of the total Minimum Expenditure Obligation in respect of the Phase II of the Exploration Period to be undertaken by the Investor in the Agreement Area.


More Definitions of Minimum Expenditure Obligation

Minimum Expenditure Obligation means the minimum monetary spend to which the Investor has committed „Minimalna financijska obveza” znači najmanji novčani trošak na koji se Investitor obvezao u odnosu na Minimalne radne in order to meet Minimum Work Obligations to be conducted in each respective Exploration Phase as provided in Article 5.2 of the Agreement. obveze koje će obavljati u svakoj odnosnoj Istražnoj fazi, ▇▇▇▇ ▇▇ utvrđeno u članku 5.2 Ugovora.
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Minimum Expenditure Obligation means the minimum expenditures to be incurred by the CONTRACTOR for Exploration with respect to the First Exploration Period or the Second Exploration Period, as applicable, as described in Annex "C".
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Minimum Expenditure Obligation means the minimum monetary spend to which the Contractor has committed in respect of Exploration Operations to be conducted in each respective Exploration Phase.
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