Drilling Contract Sample Clauses

Drilling Contract. 2.1 The Drilling Contract shall continue in full force and effect and remain unaffected and unchanged by this Head Contract.
Sample 1
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Drilling Contract. Mxxxxxxx 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 Mxxxxxxx’x 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) Mxxxxxxx shall use the Equipment to drill up to forty-eight (48) wxxxx during the Term on a turn-key basis at locations selected by TOGA on the Comet Ridge Project for wxxxx to be drilled thereon subject to the terms and conditions of Joint Operating Agreement covering the Comet Ridge Project, or for wxxxx 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 Mxxxxxxx for each well drilled by Mxxxxxxx during the Term Mxxxxxxx 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 Mxxxxxxx to use on any suitable oil and gas project for TOGA, but (bb) TOGA has not designated an oil and gas project for Mxxxxxxx to work on; (d) Mxxxxxxx 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 Mxxxxxxx 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) Mxxxxxxx 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...
Sample 1
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.
Sample 1
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.
Sample 1

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.

  • Project contract 1. For each approved project a project contract shall be concluded between the Programme Operator and the Project Promoter.

  • 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 10.3.3.1 The second contract for a regular faculty member is the continuing contract for continuing employment. A continuing contract will not be offered to any faculty member who is not deemed to have a Master's degree or equivalent in accordance with the agreed criteria. Those faculty members having a continuing appointment as of August 1975 will not be affected by this clause.

  • Project Contracts Authority shall upon its election, succeed, without the necessity of any further action by the Concessionaire, to the interests of the Concessionaire under such of the Project Contracts as the Authority may in its discretion deem appropriate, and shall upon such election be liable to the Contractors only for compensation accruing and becoming due and payable to them under the terms of their respective Project Contracts from and after the date the Authority elects to succeed to the interests of the Concessionaire. For the avoidance of doubt, it is hereby agreed, and the Concessionaire hereby acknowledges, that all sums claimed by such Contractors as being due and owing for works and services performed or accruing on account of any act, omission or event prior to such date shall constitute debt between the Concessionaire and such Contractors, and the Authority shall not in any manner be liable for such sums. It is further agreed that in the event the Authority elects to cure any outstanding defaults under such Project Contracts, the amount expended by the Authority for this purpose shall be deducted from the Termination Payment.

  • Consulting Contract Follow-On Work: No person or firm or subsidiary thereof who has been awarded a consulting services contact or a contract which includes a consulting component may be awarded a contract for the provision of services, the delivery of goods or supplies, or the provision of any other related action which is required, suggested, or otherwise deemed appropriate as an end product of the consulting services contract. Therefore, any consultant that contracts with a COUNTY agency/department to develop a feasibility study or to provide formal recommendations is precluded from contracting for any work recommended in the study or included in the recommendations.

  • Service Contract The Parties intend this Agreement to be a "service contract" within the meaning of Section 7701(e)(3) of the Internal Revenue Code of 1986.

  • Existing Contracts Billing terms and provisions contained in existing contracting entity agreements (existing as of the date this policy is approved by the Board of Supervisors) shall remain in effect for the life of the contract. However, when these existing contracts are renegotiated, they shall contain the billing provisions as set forth in this policy.

  • SUB-CONTRACTING 31.1. The Authority approves the appointment of the sub-contractors specified in Schedule 10 (Approved Sub-contractors) in respect of the obligations specified in that Schedule.

  • Interconnection Agreement On or before December 31, 2015, Wholesale Market Participant must enter into an Interconnection Agreement with the Transmission Owner in order to effectuate the WMPA. Wholesale Market Participant shall demonstrate the occurrence of each of the foregoing milestones to Transmission Provider’s reasonable satisfaction. Transmission Provider may reasonably extend any such milestone dates, in the event of delays that Wholesale Market Participant (i) did not cause and (ii) could not have remedied through the exercise of due diligence. If (i) the Wholesale Market Participant suspends work pursuant to a suspension provision contained in an interconnection and/or construction agreement with the Transmission Owner or (ii) the Transmission Owner extends the date by which Wholesale Market Participant must enter into an interconnection agreement relative to this WMPA, and (iii) the Wholesale Market Participant has not made a wholesale sale under this WMPA, the Wholesale Market Participant may suspend this WMPA by notifying the Transmission Provider and the Transmission Owner in writing that it wishes to suspend this WMPA, with the condition that, notwithstanding such suspension, the Transmission System shall be left in a safe and reliable condition in accordance with Good Utility Practice and Transmission Provider’s safety and reliability criteria. Wholesale Market Participant’s notice of suspension shall include an estimated duration of the suspension period and other information related to the suspension. Pursuant to this section 3.1, Wholesale Market Participant may request one or more suspensions of work under this WMPA for a cumulative period of up to a maximum of three years. If, however, the suspension will result in a Material Modification as defined in Part I, Section 1.18A.02 of the Tariff, then such suspension period shall be no greater than one (1) year. If the Wholesale Market Participant suspends this WMPA pursuant to this Section 3.1 and has not provided written notice that it will exit such suspension on or before the expiration of the suspension period described herein, this WMPA shall be deemed terminated as of the end of such suspension period. The suspension time shall begin on the date the suspension is requested or on the date of the Wholesale Market Participant’s written notice of suspension to Transmission Provider, if no effective date was specified. All milestone dates stated in this Section 3.1 shall be deemed to be extended coextensively with any suspension period permitted pursuant to this provision.

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