Initial Exploration Phase definition

Initial Exploration Phase means the period of five (5) Contract Years commencing on the Effective Date of the Agreement, as defined in Article 6.
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Initial Exploration Phase means the Exploration Period determined under Article 3.2 of this Contract.
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Initial Exploration Phase. WORK EXPENDITURES:
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Examples of Initial Exploration Phase in a sentence

  • Such guarantees shall be provided not later than thirty (30) days after the execution of this Agreement, in respect of the minimum work obligations of the Initial Exploration Phase, or thirty (30) days after the start of the Optional Exploration Phase of the Exploration Period, in respect of the minimum work obligations of said Phase.

  • One (1) successive extension of three (3) Contract Years (the Optional Exploration Phase) may follow the Initial Exploration Phase, provided that Contractor notifies Sonangol in writing of such extension, at least thirty (30) days before the end of the Initial Exploration Phase, and if, unless otherwise agreed by Sonangol, Contractor has fulfilled its obligations in respect of such Phase.

  • The Agreement shall be terminated if no Commercial Discovery has been made in the Contract Area by the end of the Initial Exploration Phase or the Optional Exploration Phase, should that be the case.

  • Pursuant to the Concession Decree-Law, an Initial Exploration Phase of five (5) Contract Years shall start from the Effective Date.

  • The financial guarantee referred to in the previous paragraph shall be given by Contractor Group not later than thirty (30) days after the execution of the Agreement, in respect of the minimum work obligations of the Initial Exploration Phase, or after the commencement of each optional Phase of the Exploration Period, in respect of the minimum work obligations of said phase.

  • In the Initial Exploration Phase, the above referred financial guarantee shall be reduced by the amount of U.S. dollars (U.S.$ ) when the mandatory seismic program has been concluded, or of each amount paid under Article 15.6.

  • During the Initial Exploration Phase Contractor Group shall perform a seismic program covering .

  • Pursuant to the Concession Decree, an Initial Exploration Phase of ( ) Contract Years shall start from the Effective Date.

  • With respect to the Initial Exploration Phase, the total amount of the financial guarantees shall be increased by fifteen million U.S. dollars (U.S.$15,000,000) for the mandatory seismic program provided for in Article 14.1.

  • During the currency of the Initial Exploration Phase, the Contractor shall complete the Work Programme committed by it in its Bid, which shall constitute the Committed Work Programme committed for Initial Exploration Phase.

Related to Initial Exploration Phase

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Development Phase means the period before a vehicle type is type approved.

  • Development Period means the period from the date of this Agreement until the Appointed Date;

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Project Term means the period from the Signature Date to the Expiry Date or the Termination Date, whichever occurs first;