Drilling Contract Clause Samples

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Drilling Contract. Assignor and Assignee agree, upon the purchase of Rig #2 by Assignee pursuant to the Purchase Agreement and this Agreement, to enter into a drilling services contract in the form attached to this Agreement as Exhibit A.
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Drilling Contract. 2.1 The Drilling Contract shall continue in full force and effect and remain unaffected and unchanged by this Head Contract. 2.2 The Drilling Contract is a subcontract of this Head Contract. 2.3 The Parties agree that, for purposes of this Head Contract, the definition of “Drilling Contract” shall not include any amendment or supplement thereto or restatement thereof, unless Allied has given its written consent to such amendment, supplement and/or restatement, in which event the term “Drilling Contract” shall include any such amendment, supplement and/or restatement to which Allied has given its consent.
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Drilling Contract. M▇▇▇▇▇▇▇ and TOGA shall enter into a Drilling Contract, based on the form attached hereto as Exhibit B hereto, which shall be amended and amplified as reasonably necessary to reflect M▇▇▇▇▇▇▇’▇ and TOGA’s agreement with respect to use and disposition of the Equipment including, without limitation, the following: (a) a three (3) year term (“Term”); (b) M▇▇▇▇▇▇▇ shall use the Equipment to drill up to forty-eight (48) w▇▇▇▇ during the Term on a turn-key basis at locations selected by TOGA on the Comet Ridge Project for w▇▇▇▇ to be drilled thereon subject to the terms and conditions of Joint Operating Agreement covering the Comet Ridge Project, or for w▇▇▇▇ to be drilled at locations selected by TOGA on any other oil and gas projects subject to the terms and conditions of the applicable joint operating agreements, in Australia as TOGA may reasonably designate; (c) TOGA shall have a preferential right to use the Equipment and shall pay (i) amounts computed from the “Rates for Drilling and Associated Services” attached as Exhibit C hereto to M▇▇▇▇▇▇▇ for each well drilled by M▇▇▇▇▇▇▇ during the Term M▇▇▇▇▇▇▇ Drilling Contractors Pty Ltd. Page 3 October 7, 2002 utilizing the Equipment (“Turn-Key Rate”) and (ii) Australian Three Thousand Two Hundred and No/100 Dollars ($3,200.00) as a standby charge, without a crew, per day during the Term (“Standby Period”) that (aa) the Equipment is available, and in all respects ready, for M▇▇▇▇▇▇▇ to use on any suitable oil and gas project for TOGA, but (bb) TOGA has not designated an oil and gas project for M▇▇▇▇▇▇▇ to work on; (d) M▇▇▇▇▇▇▇ shall (i) reduce the aggregate proceeds accruing to it under the Drilling Contract during the Term by an amount equal to one-third (1/3) of all standby payments collected by M▇▇▇▇▇▇▇ during the first sixty (60) days of all Standby Periods during the Term (“Standby Credit”), with each Standby Credit to be recoverable over a period that is three times as long as each applicable Standby Period, and (ii) use its best endeavors to seek other work for the Equipment during any Standby Period, subject to TOGA’s prior consent to insure availability of the Equipment, to reduce the standby charges that might otherwise accrue; (e) M▇▇▇▇▇▇▇ and TOGA shall adjust the Turn-Key Rate at the end of the first and second year of the Drilling Contract based upon an increase in the consumer price index applicable in Queensland, Australia; (f) TOGA shall have a preferential right to extend or replace the drillin...
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Drilling Contract. Conoco Drilling and Deepwater shall have ------------------ entered into the Drilling Contract in a form substantially similar to the form attached hereto as Exhibit H and Conoco Drilling shall have delivered the Conoco Drilling Consent in a form substantially similar to the form attached hereto as Exhibit I.
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Related to Drilling Contract

  • Operating Contracts Subject to the rights of the Timeshare Owners' Association as set forth in the Timeshare Documents, no Operating Contract shall be modified, extended, terminated or entered into, without the prior written approval of Agent, if any such modification, extension, termination or new agreement could have a material adverse impact on the operation of the Resort or the Collateral.

  • Gas Contracts No Credit Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

  • Continuing Contract Upon the recommendation of the Superintendent that a member eligible for continuing contract status be re-employed, and approval by the Board of Education, as prescribed and in compliance with the Ohio Revised Code, of the Superintendent’s recommendation, a continuing contract shall be entered into between the Board and the member. Teachers eligible for continuing service status are those teachers qualified as described below, who within the last five years have taught for at least three years in the District, and those teachers who, having attained continuing contract status elsewhere, have served two years in the District. In order to be eligible for the granting of a continuing contract, the bargaining unit member must have on file with the Board by March 20 of the year of tenure eligibility either: a. A Professional, Permanent or Life teacher’s certificate issued upon application submitted to the State Board of Education prior to September 1, 1998 or renewed or upgraded subsequent to September 1, 1998 in accordance with Ohio Revised Code 3319.22; or b. A Professional Educator’s License issued after October 29, 1996 and proof of at least one of the following: i. If a master’s degree was not held at the time of initially receiving a teaching certificate or an educator’s license, thirty (30) semester hours of course work in the area of licensure or in an area related to the teaching field since the initial issuance of such certificate or license; or ii. If a master’s degree was held at the time of initially receiving a teaching certificate or an educator’s license, six (6) semester hours of graduate course work in the area of licensure or in an area related to the teaching field since the initial issuance of the teaching certificate or license; or iii. A teacher holding a senior professional educator license or a lead professional educator license issued under the licensure provisions of the ORC. c. For bargaining unit members initially licensed after January 1, 2011, continuing contract eligibility is met if the teacher: i. Holds a professional, senior professional or lead professional license; ii. Has held an educator’s license for at least seven (7) years; and iii. Has completed either of the following: a. If the bargaining unit member did not hold a master’s degree at the time of initially receiving an educator license, thirty

  • Standard Contract Attachment C - (Standard Contract Provisions for Contracts and Grants)

  • Project Contracts Prior to the delivery of this Lease, the Company may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and any such contracts entered into by the Company after delivery of this Lease are hereinafter referred to as the “Project Contracts.” Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to said Project Contracts or otherwise. Subject to the Lender’s rights in the Project Contracts, the Company hereby conveys, transfers and assigns to the Issuer all of the Company’s rights in, but not its obligations under the Project Contracts and the Issuer hereby designates the Company as Issuer’s agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Company shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Company covenants to cause the Improvements to be acquired, constructed and/or completed in accordance with the Project Contracts. Any and all amounts received by the Issuer, the Trustee or the Company from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund.