Production Licence Granted Sample Clauses

Production Licence Granted. (a) Paltar acknowledges and agrees that, following the Earning Date, if a Production Licence is applied for and issued in respect of any area under the Nation Blocks in accordance with the terms of this Agreement, (i) Paltar’s interest in such Production Licence will be equal to seventy-five percent (75%), insofar as it covers the Nation Block, subject to the Option granted hereunder pursuant to clause 5.3, and (ii) Nation’s interest in such Production Licence, insofar as it covers the Nation Block, will be equal to twenty-five percent (25%).
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Production Licence Granted. (a) Paltar acknowledges and agrees that, following the Earning Date, if a Production Licence is applied for and issued in respect of any area under the Permit Area in accordance with the terms of this Agreement, (i) Paltar’s undivided interest in such Production Licence will be equal to 75%, subject to the Option granted hereunder pursuant to clause 5.3, and Nation’s undivided interest in such Production Licence will be equal to 25%.
Production Licence Granted. (a) Upon the grant of a Production Licence for a Nation Block and the receipt of all necessary transfers to Paltar from any other party to the JVOA concerning the Nation Block, Paltar will deliver to Nation registrable transfer forms of Paltar’s entire interest in the Production Licence, insofar as it covers the Nation Block, except for the payment of stamp duty and registration fees. Nation will lodge the transfer forms, together with a notice appointing Nation or its designee as Operator of the Production Licence, with the Government for approval and registration, as required under the Petroleum Act, and promptly thereafter Nation must deliver to Paltar the duly executed transfer forms and pay the stamp duty and registration fees in the amounts determined by the Government. Paltar’s interest in the Production Licence shall be transferred to Nation free from any Encumbrance except as set out in Clause 6.2(b); provided, that, Paltar shall be entitled to reserve for itself an overriding royalty with respect to all petroleum produced from the portion of the relevant Nation Block covered by the Production Licence with such royalty being equal to the difference between 25% and the sum of the existing royalty burdens shown in Schedule 1 applicable to such portion of the relevant Nation Block such that the revenue interest of Nation in such production of petroleum, after giving effect to all of the royalty burdens described in Schedule 1, will be exactly 75%, and with the understanding that if a royalty burden set forth in Schedule 1 later increases in accordance with its terms, the additional overriding royalty in favor of Paltar will be correspondingly decreased, so that Nation’s revenue interest will remain constant at 75%.
Production Licence Granted. (a) Officer acknowledges and agrees that, following the Earning Date, if a Production Licence is applied for and issued in respect of any area under the Nation Blocks in accordance with the terms of this Agreement, (i) Officer’s interest in such Production Licence will be equal to seventy-five percent (75%), insofar as it covers the Nation Block, subject to the Option granted hereunder pursuant to clause 5.3, and (ii) Nation’s interest in such Production Licence, insofar as it covers the Nation Block, will be equal to twenty-five percent (25%).
Production Licence Granted. (a) Officer acknowledges and agrees that, following the Earning Date, if a Production Licence is applied for and issued in respect of any area under the Permit Area in accordance with the terms of this Agreement, (i) Officer’s undivided interest in such Production Licence will be equal to 75%, subject to the Option granted hereunder pursuant to clause 5.3, and Nation’s undivided interest in such Production Licence will be equal to 25%.

Related to Production Licence Granted

  • Licence Grant If you use our software as part of using our Services then we and our licensors grant you a licence that is personal to you only, which is limited, non- exclusive, revocable, non-transferable and without the right to sub-licence. A “licence” is legal way in which we are able to grant you the right to use something for a specific and limited – in this context we use to describe how we grant you the right to use the Service (including its software). You are permitted to use the software provided by us for use solely for the purposes of availing of our Services pursuant to this Agreement and for no other purpose whatsoever. Unless expressly granted by us in this Agreement, nothing in this Agreement shall be interpreted as granting you a licence to use any of our software or other intellectual property rights for any other purposes.

  • Software Licence The following licence terms apply whether HP provides software to Customer as part of a managed service or as a separate software transaction.

  • Software License Subject to the terms of this Agreement, Viasat grants to you a personal, non-exclusive, non-assignable and non-transferable license to use and display the software provided by or on behalf of Viasat (including any updates) only for the purpose of accessing the Service ("Software") on any computer(s) on which you are the primary user or which you are authorized to use. Our Privacy Policies provide important information about the Software applications we utilize. Please read the terms very carefully, as they contain important disclosures about the use and security of data transmitted to and from your computer. Unauthorized copying of the Software, including, without limitation, software that has been modified, merged or included with the Software, or the written materials associated therewith, is expressly forbidden. You may not sublicense, assign, or transfer this license or the Software except as permitted in writing by Viasat. Any attempt to sublicense, assign or transfer any of the rights, duties or obligations under this license is void and may result in termination by Viasat of this Agreement and the license. You agree that you shall not copy or duplicate or permit anyone else to copy or duplicate any part of the Software, or create or attempt to create, or permit others to create or attempt to create, by reverse engineering or otherwise, the source programs or any part thereof from the object programs or from other information made available under this Agreement.

  • Licences 11.1 The Service Provider shall ensure that all the necessary licences, all other authorisations, permissions, consents, approvals and dispensations which it may require from time to time for the provision of the Services are in place for the Term.

  • Inbound Licenses Except as disclosed on the Schedule, Borrower is not a party to, nor is bound by, any license or other agreement that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or agreement or any other property.

  • Licence You must ensure that you hold all necessary licences, permits and approvals that are required by Law (including a Dairy Industry Licence) in order to comply with your obligations under this Contract. Failure to comply with the obligations under this clause may result in DFMC suspending the collection of your milk until such time as the failure is rectified.

  • Site License We grant you a non-assignable, non-sublicensable, non-exclusive, worldwide right and license to internally use and install the Software on any number of Development Workstations, Machines, Servers or users at a single Site as listed in the Order Form for Commercial purposes.

  • Outbound Licenses Part 2.7(d) of the Disclosure Schedule accurately identifies each Contract pursuant to which any Person has been granted any license under, or otherwise has received or acquired any right (whether or not currently exercisable) or interest in, any Seller IP. The Seller is not bound by, and no Seller IP is subject to, any Contract containing any covenant or other provision that in any way limits or restricts the ability of the Seller to use, exploit, assert, or enforce any Seller IP anywhere in the world.

  • Sub-licensing The Licensee shall be entitled to grant sub-licences of its rights under this Agreement to any person, provided that:

  • Software Licensing Contractor represents and warrants that the software, if any, as delivered to City, does not contain any program code, virus, worm, trap door, back door, time or clock that would erase data or programming or otherwise cause the software to become inoperable, inaccessible, or incapable of being used in accordance with its user manuals, either automatically, upon the occurrence of licensor-selected conditions or manually on command. Contractor further represents and warrants that all third party software, delivered to City or used by Contractor in the performance of the Contract, is fully licensed by the appropriate licensor.

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