PRODUCTION PROGRAMS Clause Samples
The 'Production Programs' clause defines the procedures and requirements related to the planning, scheduling, and execution of production activities under an agreement. It typically outlines how production schedules are established, communicated, and updated between the parties, and may specify the lead times, quantities, and deadlines for delivering goods or services. This clause ensures that both parties have a clear understanding of production expectations, helping to coordinate supply and demand, minimize disruptions, and allocate responsibility for meeting production targets.
POPULAR SAMPLE Copied 1 times
PRODUCTION PROGRAMS. Before or at the end of the pilot period, if achievable; CARD Bank will provide reasonable assistance to CMIT in securing final agreements with MFS plans for the implementation of production programmes (Production Programme Contracts). - 6 - 6.
PRODUCTION PROGRAMS. 11.1 If the Managing Operator determines that the economic potential of any part of the Property warrants the preparation of a Feasibility Report the Managing Operator will present a Program in accordance with section 10 contemplating the preparation of a Feasibility Report. The Managing Operator will, concurrently with the presentation of such Program, deliver to the Management Committee any internal or draft report on the economics of Commercial Production which it may have prepared or caused to have been prepared. On completion of the Feasibility Report pursuant to such Program the Managing Operator will forthwith deliver to the Management Committee the Feasibility Report and, if the Feasibility Report recommends placing the Property (or a portion thereof) into Commercial Production, a Production Program in respect of the Property or such portion thereof will be prepared by the Managing Operator.
11.2 Within 120 days of the delivery to the Management Committee of a Production Program and Feasibility Report delivered pursuant to subsection 11.1 each Joint Operator will give notice stating whether it elects to contribute its Cost Share of the Production Program. Failure to give such notice within such period will be deemed to be an election not to contribute to such Production Program. If both Joint Operators elect to contribute their respective Cost Shares of the Production Program the Joint Operators will implement the Production Program. If one Joint Operator elects or is deemed to have elected not to contribute to a Production Program, its Interest will thereafter be determined in accordance with sections 4.3 and 4.4. The Joint Operators will not proceed with any Production Program which is not fully subscribed.
11.3 An election to fund a Production Program under subsection 11.2 will make a Joint Operator liable to pay its Cost Share of:
(a) all of the Production Program Costs actually incurred under or pursuant to such Production Program, including Production Program Overruns up to but not exceeding 10% of estimated Production Program Costs;
(b) Operating Costs and any other costs associated with establishing and operating the Property as a mine at such time as the liability is incurred by either Joint Operator; and
(c) any debts, liabilities or obligations arising from operations hereunder, except financing costs incurred by the other Joint Operator in connection with such other Joint Operator's contributions to Production Program Costs, other than ...
PRODUCTION PROGRAMS. 9.1 If the Operator determines that the economic potential of any part of the Property warrants the preparation of a Feasibility Report the Operator will prepare a Program in accordance with section 8 contemplating the preparation of a Feasibility Report. The Operator will forthwith deliver to the Management Committee any internal or draft report or reports on the economics of Commercial Production and on completion of the Feasibility Report pursuant to such Program the Operator shall forthwith deliver to the Participants a Feasibility Report together with a Production Recommendation. If in the opinion of the Management Committee it is warranted based on the conclusions reached in the Feasibility Report (a “Production Decision”), the Operator shall prepare a Production Program in respect to such part of the Property which shall include at least the following:
(a) a description of that part of the Property to be covered by the proposed mine;
(b) the estimated recoverable reserves of minerals and the estimated composition and content thereof;
(c) the costs and time estimate for permitting and the proposed procedure for development, mining and production;
(d) results of ore amenability tests (if any);
(e) the nature and extent of the Facilities proposed to be acquired which may include mill facilities, if the size, extent and location of the ore body makes such mill facilities feasible, in which event the study shall also include a preliminary design for such mill;
(f) the total costs, including capital budget, which are reasonably required to obtain permitting for and to purchase, construct and install all structures, machinery and equipment required for the proposed mine, including a Schedule of timing of such requirements, and an estimate of the operating expenses and capital expenditures to be shared by the Participants in proportion to their respective Interests for each operating year during the projected life of the mine;
(g) all environmental, socio-economic and heritage baseline impact studies and costs;
(h) the period in which it is proposed the Property shall be brought to Commercial Production;
(i) such other data and information as are reasonably necessary to substantiate the existence of an ore deposit of sufficient size and grade to justify development of a mine, taking into account all relevant business, tax and other economic considerations; and
(j) working capital requirements for the initial four month operation as a mine or such longer per...
PRODUCTION PROGRAMS. 11.1. The Contractor undertakes to produce on a yearly basis reasonable quantities of Hydrocarbons from each Marketable Deposit according to the rules of the art in use in the international oil industry, mainly taking into consideration the rules of proper preservation of the deposits and the best possible recovery of the Hydrocarbon reserves under economic conditions.
11.2. In the case of production, the Annual Project Schedule mentioned in Article 16 herein below that the Contractor must submit, before the first (1st) October of each Civil Year, to the Minister will include for each Marketable Deposit, the production program and the corresponding budget prepared for the following Year.
11.3. The Contractor shall attempt to produce during each Civil Year, the quantities estimated in the production program defined hereinabove.
PRODUCTION PROGRAMS. 11.1. The Consortium agrees to produce reasonable quantities of Hydrocarbons from each Commercial Field in accordance with the normal practice of the international petroleum industry, taking into account in particular the metods of good conservation of the fields and the optimum recovery of the Hydrocarbons reserves on an economic basis.
11.2. During production, the Consortium shall before 1st November of every Calendar year submit for approval to the Minister the production program for each Commercial Field and the corresponding Budget set for the following Calendar Year. Such approval shall be granted automatically if the program is in accordance with the provisions of Article 11.1. above.
11.3. The Consortium shall use its best endeavors to produce during each calendar Year the quantities estimated in the production program referred to above.
PRODUCTION PROGRAMS. Six (6) months prior to the first Commercial Production Start Date of Crude Oil and Liquid Hydrocarbon By-Products, Operator shall present to the Management Committee for its consideration and approval a production program stating the quantities of Crude Oil and Liquid Hydrocarbon By-Products which Operator estimates will be produced and delivered to the Parties during the period from the anticipated Commercial Production Start Date to the end of the relevant Calendar Year. Thereafter and so long as the Agreement remains in effect, Operator shall, not later than six (6) months before the end of each Calendar Year, present a similar production program for the following year to the Management Committee for its consideration and approval. Each production program shall be suitably detailed and divided into such periods as may be requested by the Management Committee. The Management Committee shall promptly inform the Parties of each approved production program.
PRODUCTION PROGRAMS