Additional Prospects Sample Clauses
The "Additional Prospects" clause defines the process by which new business opportunities or potential clients, not originally identified in the agreement, can be added to the scope of the contract. Typically, this clause outlines the criteria or procedures for recognizing and approving these additional prospects, such as requiring written consent from both parties or specifying notification timelines. Its core practical function is to provide flexibility for the parties to expand their business relationship in an organized manner, ensuring that any new opportunities are handled transparently and with mutual agreement.
Additional Prospects. All Prospects and all additional prospects (“Additional Prospects”) generated within the Gridiron AMI during the term hereof by Centurion, by EXXI, jointly by Centurion and EXXI, or by a third party, whether or not based on information derived from the Gridiron Seismic Data, shall be subject to this Agreement.
Additional Prospects. In the event Atlas and SOGW agree to engage CXY to develop other areas of OPL 75 consisting of approximately 15,000 acres (an "Additional Prospect") under a service subcontract with CXY, such service subcontract shall be on terms mutually agreeable to all Parties.
Additional Prospects. Section 3.5 of the Venture Agreement is hereby amended in its entirety to read as follows:
Additional Prospects. There is a commitment to spend US$1m in 2020 outside of the West Pogo tenement. The most prospective target at this stage is the Eagle prospect located to the South West. The Eagle prospect is not a Pogo style mineralisation and is interpreted to be an intrusion hosted IRGS System. The minimal exploration work undertaken to date includes only a selective amount of soil sampling as well as a number of diamond drill holes. ▇▇▇▇▇, yet encouraging intercepts of 0.27m @14g/t and 1.8m @ 3g/t highlight the prospective mineralization in the region. Further analysis and identification of drill targets will be undertaken in 2020 to further understand the variability in mineralisation style.
Additional Prospects. The Manager, with the Agreement of all Participants, may elect to participate in the acquisition, exploration, development and/or sales of Prospects in addition to the first four Prospects in which the Venture will participate hereunder. In such event, the Manager will present detailed information regarding such properties and the estimated costs associated therewith. In the event one or more Participants do not agree to participate in such additional Prospects, the Manager and the other Participants may elect to so participate and a separate accounting unit and capital accounts for the Participants will be established with respect to such Prospect, and the non-participating Participant(s) shall have no rights or interests in such Prospect. The Participants hereby agree to amend this Agreement to the extent necessary to establish separate accounting units and capital accounts when and as required to effectuate the purposes of this Section 3.5.
Additional Prospects. After the expenditure or commitment for expenditure of the Capital Contributions of the Participants set forth in Section 3.1 hereof, the Manager, with the agreement of all Participants, may elect to participate in the acquisition, exploration, development and/or sales of additional prospects and the Participants shall make additional Capital Contributions with respect thereto. In such event, the Manager will present to the Participants detailed information regarding such properties and the estimated costs associated therewith. In the event one or more Participants do not agree to participate in such additional prospects, the Manager and the Other Participants may elect to so participate and a separate accounting unit and capital accounts for the Participants will be established with respect to such prospect, and the non-participating Participant(s) shall have no rights or interests in such Prospect. The Participants hereby agree to amend this Agreement to the extent necessary to establish separate accounting units and capital accounts when and as required to effectuate the purposes of this Section 3.5.