Commitment in Initial Period Sample Clauses
The 'Commitment in Initial Period' clause establishes the obligation of one or both parties to maintain their contractual commitments for a specified initial term. Typically, this means that neither party can terminate the agreement or reduce their obligations—such as payment amounts or service levels—during this initial period, regardless of changing circumstances. This clause ensures stability and predictability for both parties at the outset of the contract, preventing early withdrawal and allowing for reliable planning and resource allocation.
Commitment in Initial Period. In each Contract Year mentioned below, the Contractor shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for that Contract Year:
Commitment in Initial Period. In each Contract Year mentioned below, the Contractors shall carry out an Exploration Work Programme and Budget of not less than the amount of work specified for that Contract Year: 1 Fieldwork Acquisition, processing and interpretation of 1150 km 2D seismic data N/A 2 Technical studies Sea-bed coring N/A 3 Technical studies N/A N/A
