EXPLORATION EXPENDITURE Sample Clauses

EXPLORATION EXPENDITURE. 31.5.1 Exploration Expenditure shall consist of all direct, indirect and allotted costs incurred in the search for Petroleum in the Licence Area, including but not limited to expenditure on:
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EXPLORATION EXPENDITURE. Exploration Expenditures shall consist of all necessary, appropriate and economical direct and allocated indirect costs incurred in the search for Petroleum and the appraisal of Discoveries in the Contract Area and are expenditures in respect of:
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EXPLORATION EXPENDITURE. Within 1 (ONE) year of the Effective Date, the Prospector is obliged to have spent an amount of Exploration Expenditure on the Properties of R1 000 000,00 (ONE MILLION RAND). This amount shall be placed in trust with the Grantor’s attorneys within 3 (THREE) days of the Effective Date. Such Attorneys shall release moneys out of the trust account to the Prospector on the Prospector producing invoices for Exploration Expenditure spent on the Properties. If the Prospector does not complete R1 000 000,00 (ONE MILLION RAND) of Exploration Expenditures on the Properties within one year of the Effective Date the Grantor shall provide notice to the Prospector of the failure to satisfy this requirement of the Agreement. If the Prospector does not provide reasonable confirmation of the completion of this required R1 000 000,00 (ONE MILLION RAND) program of Exploration Expenditures on the Properties with in 30 (THIRTY) days of receipt of this notice this agreement will terminate. 1003/GEO/KJW/MF 26/02/2003
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Related to EXPLORATION EXPENDITURE

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.

  • Acquisition Expenses Any and all expenses incurred by the Company, the Advisor, or any Affiliate of either in connection with the selection, acquisition or development of any Asset, whether or not acquired, including, without limitation, legal fees and expenses, travel and communications expenses, costs of appraisals, nonrefundable option payments on property not acquired, accounting fees and expenses, and title insurance premiums.

  • Expenditure No Borrower shall incur any expenditure, except for expenditure reasonably incurred in the ordinary course of owning, operating, maintaining and repairing its Ship.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2006 and each Fiscal Year ending thereafter $ 5,000,000 (b) [Intentionally Deleted]

  • Eligible Expenditures 1. Subject to Article 8.7 of the Regulation, eligible expenditures of this Programme are:

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT.

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