Closure Programs and Budgets Sample Clauses
The 'Closure Programs and Budgets' clause defines the requirements and procedures for planning, documenting, and approving the activities and financial resources necessary to close out a project or contract. Typically, this clause outlines the need for a detailed closure plan, including timelines, responsibilities, and a final budget that accounts for all remaining costs such as demobilization, site restoration, or final reporting. Its core practical function is to ensure that all parties have a clear understanding of the steps and funding required to properly conclude the project, thereby preventing disputes and ensuring a smooth transition at project completion.
Closure Programs and Budgets. When Operations at any Nevada JV Mine and related facilities cease, or are scheduled to cease, the Operating Member shall submit a Program and Budget for Closure Operations (a “Closure Program and Budget”) to the Board. If Closure Operations are not completed prior to completion of the initial Closure Program and Budget, the Operating Member shall propose additional successive Closure Programs and Budgets for the continuation of Closure Operations until completed. The Operating Member shall propose an additional Closure Program and Budget to the Board by no later than 30 days prior to expiration of the initial Closure Program and Budget and of any succeeding Closure Program and Budget. Each Closure Program and Budget shall cover a Calendar Year unless otherwise determined by the Board.
Closure Programs and Budgets. (a) In respect of the Partnership Business, the Operator shall update and amend any closure program and budget adopted prior to the date hereof or prepare any new closure program and budget as may be considered advisable by the GP Board or the Operator from time to time and otherwise as required by Law and shall submit any such updates, amendments or new program and budget to the GP Board at least 60 days prior to the date any such update, amendment or new program and budget is intended to be implemented or is required by Law or intended to be submitted to Governmental Authorities, as applicable.