Pre-Contract Costs definition

Pre-Contract Costs means those costs and expenditures incurred by CUCBM in respect of the exploration of the Contract Area and prior to the Date of Commencement of the Implementation of the Contract. Pre-Contract Costs are agreed to be Two Million Eight Hundred Forty Thousand U.S. dollars (US$2,840,000). Pre-Contract Costs shall be recovered by CUCBM pursuant to the provisions of Article 13 hereof.
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Pre-Contract Costs as used in Section 5.2(a) above, means advance program management and engineering costs in amounts of up to Two Million Dollars ($2,000,000) during any fiscal year in connection with Borrowers' design and development of products to be sold under long-term supply arrangements.
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Examples of Pre-Contract Costs in a sentence

  • If CUCBM recovers its Pre-Contract Costs prior to Contractor's recovery of its exploration costs, that portion of the "investment recovery CBM and Liquid Hydrocarbons" previously paid to CUCBM shall then be paid to Contractor for the cost recovery of Contractor's unrecovered exploration costs.

  • The unrecovered exploration costs and the unrecovered Pre-Contract Costs shall be carried forward to and recovered from the "investment recovery CBM and Liquid Hydrocarbons" in succeeding Calendar Years until fully recovered by the Contractor.

  • Neither the Company, the Business Subsidiary nor IITRI has received written notice that it will not be reimbursed for any material portion of such Pre-Contract Costs.

  • Such "investment recovery CBM and Liquid Hydrocarbons" shall be used for the recovery of the exploration costs incurred and not yet recovered by Contractor in respect of the Contract Area and for the recovery of Pre-Contract Costs incurred and not yet recovered by CUCBM in respect of the Contract Area..

  • The Developer hereby covenants with the Council to pay that part of the Pre-Contract Costs (Advance Design Costs) at the dates and times set out in line 1 of Payment Table 1 of Annex 1.