First Renewal Period definition

First Renewal Period is defined in Section 2(b).
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First Renewal Period means a period of time running from the expiry of the Initial Licensing Period and for a period of two (2) Contract Years thereafter.
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First Renewal Period has the meaning set out in Section 3.3(a);
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Examples of First Renewal Period in a sentence

  • PSA and Agreement Commitments Block 2B Under the terms of the Block 2B Exploration Right, the Company and its partner have fulfilled the obligations of the First Renewal Period.

  • BLOCK 2B, REPUBLIC OF SOUTH AFRICA Under the terms of the Block 2B Exploration Right, the Company and its partner have fulfilled the obligations of the First Renewal Period.

  • The revised agreement shall be further extended for a period of 7 years (First Renewal Period) and beyond, subject to the satisfactory compliance with the terms and conditions of the revised agreement.

  • Drilling Commitments In addition to its Initial Well Obligation, which carried an obligation to drill to the Bireno formation of the Cretaceous age, the approval of the First Renewal Period carried an additional one-well drilling obligation (the “First Renewal Well Obligation”).

  • The Renewal Option for the First Renewal Period (the “First Renewal Option”) shall be exercisable by delivery of written notice from Tenant to Landlord of Tenant’s election to exercise the First Renewal Option at least twelve (12) months before the First Renewal Period Commencement Date, time being of the essence.


More Definitions of First Renewal Period

First Renewal Period shall have the meaning given to it in Section 22.1 hereof.
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First Renewal Period means the first renewal of this Exploration Right granted in terms of Section 81 of the Act read together with Regulation 33;
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First Renewal Period means the period commencing on the day following the termination of the Initial Period and terminating 5 (five) years thereafter;
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First Renewal Period means the period of five (5) years from the expiry of the Term;
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First Renewal Period. “Foreign Exchange”
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First Renewal Period. Second and Any Additional Renewal Periods
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First Renewal Period. Section 12.02 “XXX” Recitals “Hardship Event” Section 13.02 [DELETED] [DELETED] “Initial Term” Section 12.01 “Insurance Market” Section 11.03 “Invoiced Amount” Section 9.03
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