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

  • 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.

  • The election by Tenant to relinquish any Additional Termination Area to Landlord shall be without limitation upon its obligations to pay Base Rent or make the Expiration Payment with respect to such Relinquished Area.

  • 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).

  • 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.

  • 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.

Related to Relinquished Area

  • Disturbed area means an area where the ground cover is destroyed or removed leaving the land subject to accelerated erosion.

  • Restricted Area means an area, access to which is limited by the licensee or registrant for the purpose of protecting individuals against undue risks from exposure to sources of radiation. Restricted area does not include areas used as residential quarters, but separate rooms in a residential building may be set apart as a restricted area.

  • Covered area means the geographical area described in the solicitation from which this contract resulted;

  • Restricted Areas means (i) all areas within a Facility that are not generally accessible to the public, including judges’ xxxxxxxx, all non-public restrooms, elevators, break rooms, and corridors, in-custody holding, Sheriff areas and other non- public spaces that are dedicated for use only by judges or Court staff and employees, and (ii) public areas of a Facility during non-business hours that are subject to security screening during normal business hours.

  • designated area means any area which may from time to time be designated by Order in Council under the Continental Shelf Act 1964 as an area within which the rights of the United Kingdom with respect to the seabed and subsoil and their natural resources may be exercised;

  • Carpet Area means the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.

  • Area means Monterey County, San Benito County, and Santa Cruz County.

  • protected area means an area that is or has to be listed in the register referred to in section 10 of the Protected Areas Act;