Production Term definition

Production Term shall have the meaning set forth in Section 4.4.
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Production Term means (a) with respect to Phase I, the period commencing on the Commencement Date of Phase I and ending on the Commencement Date of Phase II or upon termination of this Agreement, whichever is sooner; and (b) with respect to Phase II, the period commencing on the Commencement Date of Phase II and ending upon termination of this Agreement.
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Production Term means, for each Product, that period commencing on the Commencement Date and terminating on the Termination Date.
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Examples of Production Term in a sentence

  • The prorated portion of the Annual Installment Payment for the first partial year of the Production Term shall be made within 30 days following commencement of Commercial Production.

  • Lessee shall have the right to extend the Production Term for two consecutive terms of five years each in accordance with the terms and provisions of this Agreement (each, an “Extended Production Term”) by providing written notice to Owner of Xxxxxx’s intent to so extend the Production Term by no later than 60 days prior to the end of the Production Term, or, if applicable, the initial Extended Production Term.

  • Each Extended Production Term shall begin on the expiration date of the Production Term or the previous Extended Production Term, as applicable.

  • For avoidance of doubt, a failure of the Project to achieve Commercial Production prior to the Outside Construction Date shall not be a default hereunder; rather, it shall only serve to inflect the term of this Agreement to the Production Term from the Construction Term.

  • During the Production Term, Owner may grant to Subsurface Rights Holders the right to use the surface of the Owner’s Property (excluding any Lessee Property), provided that such use does not interfere with Xxxxxx’s rights hereunder as determined by Xxxxxx in the exercise of its reasonable discretion.


More Definitions of Production Term

Production Term means the period commencing on the date of payment of the First Advance and continuing thereafter until the applicable expiration date set forth in Sections 6.a, 6.b or 6.c., as extended pursuant to the provisions of Sections 6.d and/or 6.e.
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Production Term means the period commencing on Commercial Start-up and ending on the 50th anniversary of Commercial Start-up, subject to automatic extension for any extension of the term of the Partnership Agreement pursuant to Section 5.2 of the Partnership Agreement.
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Production Term means the time period specified in any Statement of Work during which Product will be manufactured.
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Production Term shall have the meaning set forth in Section 2.5.
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Related to Production Term

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Collaboration Term has the meaning set forth in Section 2.1.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Development Term means the period commencing on the Closing Date and ending on the earlier of (a) the Option Closing Date or (b) the date the Option terminates or expires other than by exercise.

  • Development Area means that area to which a development plan is applicable.

  • Development Period means the period from the date of this Agreement until the Appointed Date;

  • Project Term the period from the Operation Commencement Date to the Expiry Date or the Termination Date, whichever occurs first, which is further described in Clause 3;

  • License Term means the duration of a License as specified in the Order.

  • Annual Work Plan and Budget means each of the detailed annual work plan, together with the related budget, for the Project approved by the Association pursuant to the provisions of Section I.C of Schedule 2 to this Agreement.

  • Billing Commencement Date means the earlier of:

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Program area means a general group of disciplines in which one or more degree programs,