Common use of GEOPHYSICAL DATA Clause in Contracts

GEOPHYSICAL DATA. Prior to an assignment of interest in the Lease(s) in a Phase I Prospect, Phase II Prospect, Phase III Prospect or a Subsequent Phase Prospect, each of Delek and TSEI, acting independently, shall purchase the underlying base seismic data covering each such prospect. Each of Delek and TSEI, acting independently, shall provide GSEI with a letter from MULTIKLIENT INVEST AS and TGS-NOPEC Geophysical Company, confirming that Delek or TSEI, as applicable, has been granted a license(s) to the underlying seismic data covering the applicable prospect(s). Upon receipt of such letter, and as permitted by GSEI’s Master License with its seismic data providers, GSEI shall, within thirty (30) days after confirmation from the seismic vendor that Delek or TSEI, as applicable, has obtained a license to the underlying data, provide such Party with access in GSEI’s offices to, and with a copy of, any interpretations, maps and other analysis owned or controlled by GulfSlope, insofar as same covers or pertains to seismic data covering the applicable prospects at reasonable times and during GSEI’s working hours.