Smaller Operations Sample Clauses
The 'Smaller Operations' clause defines specific terms or conditions that apply to business activities or entities below a certain size threshold, such as those with limited revenue, staff, or operational scale. In practice, this clause may exempt smaller businesses from certain obligations, reporting requirements, or compliance standards that are otherwise mandatory for larger organizations. Its core function is to reduce the regulatory or contractual burden on small-scale operations, ensuring that requirements are proportionate and do not unduly hinder smaller entities.
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Smaller Operations. In the event that the operation of any facility or facility constructed or deployed by Lessee to produce bitumen, synthetic crude oil and/or bitumen products from the Properties fails to achieve (or exceed) the requirements for Continuous Operations in or for any Lease Year (or any period of three consecutive Lease Years), Lessor shall be entitled, upon complying with the provisions contained in Paragraphs 12 (Termination) and 14 (Notices), respectively, to terminate this Lease.”
Smaller Operations. Any construction or operation of a facility for the sale of bitumen or other bitumen derived products or by-products that is less than the required production levels bbl/day in Section 2(a) shall not be deemed to meet the definition of “Operations” and therefore this lease would terminate within 90 days of the end of the year in which the above criteria was not met following notification as provided for in this Lease.