Feasibility Team and Feasibility Stage Conclusion Sample Clauses

Feasibility Team and Feasibility Stage Conclusion. The Feasibility Team and the Feasibility Stage terminate immediately after (a) the Feasibility Team has (i) completed the scope of work in the Feasibility AFE and its supplemental AFEs and (ii) presented to the Participating Parties the report referred to in Article 12.2 (Feasibility Team Proposal) or (b) the Participating Parties Vote to terminate the Feasibility Team prior to the occurrence of both of those events.
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Feasibility Team and Feasibility Stage Conclusion. The Feasibility Team and the Feasibility Stage terminate immediately after (a) the Feasibility Team has (i) completed the scope of work in the Feasibility AFE and its supplemental AFEs and (ii) presented to the Participating Parties the report referred to in Article 12.2 (Feasibility Team Proposal) or (b) the Participating Parties Vote to terminate the Feasibility Team prior to the occurrence of both of those events. Commencement of the Selection Stage The Selection Stage commences upon the approval of the Selection AFE. Proposal of a Project Team If a Feasibility AFE is approved, the Operator has the exclusive right for a period of __________ (__) days from the conclusion of the Feasibility Stage to submit a Selection AFE. That AFE may call for the formation of a Project Team. It shall be accompanied by a memorandum describing in detail the anticipated scope of work to be undertaken during the Selection Stage, the estimated type and number of staff required to complete that scope of work, the estimated duration of the Selection Stage, and the estimated Costs of the Selection Stage. If the Operator does not submit a Selection AFE during its exclusive period referred to in this paragraph, any Party may submit a Selection AFE.
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