Exploration Areas Clause Samples
The 'Exploration Areas' clause defines the specific geographic regions or parcels of land where a party is permitted to conduct exploration activities, such as searching for minerals, oil, or other resources. This clause typically outlines the boundaries of the area, may reference maps or coordinates, and can specify any limitations or conditions on the use of the land for exploration purposes. Its core practical function is to clearly delineate the scope of the rights granted, preventing disputes over where exploration can occur and ensuring both parties understand the extent of the permitted activities.
Exploration Areas. For each phase, THE CONTRACTOR will acknowledge and pay ▇▇▇ a fee per surface unit in accordance with the rules set forth in Annex D, subsection D.1. These sums will be paid within the month following the beginning of the corresponding phase.
Exploration Areas. Starting from the second phase of the Exploration Period and in each subsequent phase, THE CONTRACTOR shall acknowledge and pay THE A▇▇ a fee in dollars of the United States of America, which amount shall be the result of the multiplication of the number of hectares and hectare fractions of the Contracted Area, excluding the Exploitation Areas, by the figures in the table below. This payment shall be made in the course of the Month following commencement of the corresponding phase.