Exploration Activities definition
Examples of Exploration Activities in a sentence
IE shall ensure that the Typhoon Unit remains exclusively dedicated to the Exploration Activities and that no third party derives any benefit, access, or information from such Typhoon Unit.
SQM shall act diligently to carry out the Exploration Activities, but if SQM is prevented from performing any of its obligations due to unforeseen circumstances beyond the reasonable control of SQM, such event shall not give rise to any liability for SQM for any damage, loss, cost or expense arising out of or in connection with any delay, restriction, interference or failure in performing any obligation.
All Work Programs shall not interfere with or disrupt SQM’s activities and shall include provisions requiring both IE and SQM to adopt all reasonable measures to collaborate and coordinate their respective Exploration Activities in order to avoid interfering with or disrupting with the other Party’s Exploration Activities within the Typhoon Exploration Area.
If Exploration Activities are suspended or delayed as a result of a Force Majeure event, the Exploration Term shall be extended for a period equal to the duration of such suspension or delay, provided that such extension shall not exceed a total of six (6) months.
IE Exploration Services shall be performed by IE in accordance with an approved Work Program, and SQM’s Exploration Activities shall likewise be performed in accordance with an approved Work Program.