Relinquished Area definition

Relinquished Area means that portion of the Contract Area that is relinquished pursuant to and in accordance with Clauses 5.1(d) and/or 6;
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Relinquished Area means that portion of the Contract Area that is relinquished pursuant to and in accordance with Clauses 5.1(d) and/or 6; "Reservoir” means a porous and permeable underground formation containing an individual and separate natural accumulation of producible Petroleum that is confined by impermeable rock and/or water barriers and is characterized by a single natural pressure system; "Retained Area" means that portion of the Contract Area that is retained after a relinquishment under Clauses 5.1(d) and/or 6; "Royalty" or "Royalty Oil" means the quantum of Available Crude Oil allocated to the State, based on a percentage calculated as a function of daily production rates as set forth in Clause 10.1(a); "State" means the Democratic Republic of Sao Tome and Principe; "State Entity" means any entity or body which integrates the public administration’s structure of the State or, in any other way, an entity in which the State has a full equity or full interest ownership designated by the State under Clause 8 of this Contract; "Tax" means the tax payable pursuant to the Petroleum Taxation Law; "Unassociated Natural Gas" or “Unassociated Gas” means that part of Natural Gas which is not Associated Natural Gas; and "Work Program" means the work commitments itemizing the Petroleum Operations to be carried out in the Contract Area for the required period as defined in Clause 7.
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Examples of Relinquished Area in a sentence

  • In the case where the Retained Area or Relinquished Area is aligned with an international maritime boundary the international maritime boundary shall define the relevant edges of the Retained Area or Relinquished Area.

  • The City of ▇▇▇▇▇▇▇ shall have no obligation to upgrade the sewer infrastructure in the Relinquished Area in order to accommodate any tie-in from the ▇▇▇▇▇▇ Area.

  • Landlord shall maintain commercial general liability insurance in normal and customary amounts with respect to the Surrendered Space and any Relinquished Area until the sooner to occur of the termination of the Initial Lease or the Revised Expiration Date, which insurance shall identify Tenant as an additional insured.

  • On and after any Surrender Date with respect to a Relinquished Area or Additional Termination Area, Tenant shall no longer be required to maintain the insurance coverages under Section 14 of the Initial Lease including, without limitation, the general public liabilities insurance as required under Section 14(b) of the Initial Lease, with respect to such Relinquished Area.

  • The City of ▇▇▇▇▇▇▇ shall receive no tie-in fees or impact fees collected by the Sewer District for connections to the Relinquished Area from the ▇▇▇▇▇▇ Area customers.

  • Any property tied-into the Relinquished Area shall not exceed a maximum capacity of Ten Thousand Gallons (10,000) per day and must conform to the City industrial sewer use requirements or other requirements as applicable.

  • As to any Additional Termination Area, Tenant shall remain obligated to (i) maintain the insurance contemplated by the Initial Lease; and (ii) repair and maintain such Additional Termination Area in accordance with the Initial Lease until the sooner to occur of (x) the surrender of such space as a Relinquished Area; (y) the applicable Early Expiration Date; and (z) the Revised Expiration Date (or sooner termination of the Initial lease as amended hereby).

  • Tenant shall have no further right to use or occupy any Relinquished Area prior to the termination of the Initial Lease as to such Relinquished Area unless it obtains the prior written consent of Landlord, and Tenant shall have no further right to deliver a Lease Affirmation Notice as to such area.

  • As of the Termination Date, Landlord, Leasing Agent and Tenant shall have no further rights or obligations under the Lease and all obligations and rights thereunder shall cease and are extinguished, however, it is expressively agreed that Landlord and Tenant obligations under the Lease with respect to operating expenses of the Relinquished Area shall be reconciled and settled in accordance with Landlord's annual accounting of operating expenses.

  • In this transfer and release from the Sewer District to City of ▇▇▇▇▇▇▇ of the Relinquished Area, the City of ▇▇▇▇▇▇▇ will be permitted at its discretion to lay sewer lines, install pumping station(s) and install all other sewerage infrastructure it deems necessary and economically feasible and have exclusive authority, control and right over sewer services in the Relinquished Area, including receiving all fees for sewer services in the Relinquished Area.