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.
Appears in 2 contracts
Sources: Hydrocarbon Exploration and Production Contract (GeoPark LTD), Hydrocarbon Exploration and Production Contract (GeoPark Holdings LTD)
Exploration Areas. Starting from As of the second phase of the Exploration Period and in for each subsequent phasePhase, THE the CONTRACTOR shall acknowledge and pay THE Athe ▇▇▇ a fee for a value expressed in dollars of the United States of America, which amount shall be the result of the multiplication of America resulting from multiplying the number of hectares and hectare fractions fraction thereof of the Contracted Area, excluding the Exploitation AreasArea, by the figures relevant amount in the table belowfollowing table. This payment shall be made in within one month after the course of the Month following commencement of the corresponding respective phase.:
Appears in 1 contract
Sources: Exploration and Exploitation Agreement (Gran Tierra Energy Inc.)