Exploratory Phase Sample Clauses
Exploratory Phase. In order for both the Port and WT to determine the viability of the Project, certain additional information is needed. The parties need to evaluate whether sufficient demand exists for the Project, as well as whether there are any other technological limitations to bringing BiG GiG to the Port and potential costs. Therefore, the Port and WT agree to enter into a six month exploratory phase (“Exploratory Phase”) from the date of this Memorandum of Understanding (“MOU”) during which time the following will occur:
Exploratory Phase each of the phases which make up the Exploration Phase, in which the Concessionaire must perform all the obligations of the Minimum Exploratory Program committed by the Concessionaire, as specified in Annex II.