PURCHASER TO COMPLY WITH DEVELOPMENT PLANS Clause Samples

PURCHASER TO COMPLY WITH DEVELOPMENT PLANS. (a) The Purchaser acknowledges and understands that each of the Petroleum Tenures is subject to a Development Plan and failure to comply with the Development Plan could result in the Petroleum Tenures being cancelled, terminated or revoked. (b) On and from Closing the Purchaser will comply with the requirements of the Development Plan for each Petroleum Tenure to the extent possible while not holding legal title to such Petroleum Tenure.