Initial Operations definition

Initial Operations means any Joint Venture activity commenced in connection with the acquisition of the Venture’s interest in the Prospect ▇▇▇▇▇ including legal and accounting services, geological services, organizational activities and administrative activities, and the drilling, testing and completion of the undrilled Prospect ▇▇▇▇▇ and the production of oil and/or gas therefrom. The term “Initial Operations” does not include the installation of any pumping equipment nor any actions to enhance production.

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Initial Operations means the date that the Work in its totality is first used by Suncor for the purpose that it was intended.

Initial Operations means the development, construction and completion of the Initial Plant pursuant to the terms of the Existing Gas Processing Agreement.

Examples of Initial Operations in a sentence

For purposes of depletion, the Joint Venture shall allocate to the Managing Venturer and to each Venturer on or before the date of acquisition of each oil and gas property acquired with respect to Initial Operations, a portion of the adjusted basis of such property.
For each SBN, Contractor hereby grants to MSV an option to purchase, for the price specified in Article 4.3, the Spares identified in Exhibit L, at any time prior to the later of the end of the Initial Operations Period, or any Ground Segment operations and maintenance extension.
Each Venturer (or other Holder of Record), other than the Managing Venturer, except to the extent the Managing Venturer holds Units, shall share Net Cash Flow, Net Proceeds and Federal Income Tax Items attributable to Initial Operations and allocated to the Venturers in the proportion that such Venturer’s Units bear to the total Units of all Venturers.
Following the Initial Operations Period, Contractor shall, at MSV’s option, and renewable on an annual basis, perform software warranty services.
For each SBN, Contractor hereby grants to MSV an option to purchase, for the price specified in Article 4.3, an annually renewable extended warranty for Ground Segment components and any ground-based Space Segment hardware, commencing after the end of the Initial Operations Period for such SBN.
If a Virus is present in the Ground Segment at Acceptance, or upon delivery of an update or item replaced during the warranty period, or at any time during the Initial Operations Period, Contractor shall remove the Virus, assist MSV in reducing the effects of the Virus, and assist MSV with mitigating and restoring any such losses of operational efficiency or data that arise as a result of Virus, all at Contractor’s expense.
For each SBN, Contractor hereby grants to MSV an option to purchase, for the price specified in Article 4.3, an annually renewable software warranty for the software Deliverable Items (except to the extent such software is on the Satellite and is therefore inaccessible), commencing after the end of the Initial Operations Period for such SBN.
When the Joint Venture begins Initial Operations, interest earned on application funds will be allocated in accordance with Article VIII hereof.
After the Initial Operations Period and at MSV’s request, Contractor shall sell additional spare parts (those not included in the then-current replenished spare parts inventory) to MSV and/or its Service Providers on commercially reasonable terms and prices.
For each SBN, Contractor hereby grants to MSV an option to purchase, for the price specified in Article 4.3, annually renewable Ground Segment operations and maintenance services, as further described in Exhibit A, L-Band Space Based Network Statement of Work, commencing after the end of the Initial Operations Period for such SBN.

More Definitions of Initial Operations

Initial Operations means the initial stocking of the Facility with shrimp intended for commercial sale.