NOCAL definition
Examples of NOCAL in a sentence
Such insurance policies shall include the State the Authority and NOCAL as additional insureds as their interests may appear and shall waive subrogation against the State, the Authority, NOCAL and the Citizen Participation fund referred to in Article 17.2 of this Contract.
When such election is made, the Contractor shall keep NOCAL fully informed of the date on which Commercial Production from an Exploitation Area is expected to begin such that the Ministry of Finance and Development Planning, the Authority and NOCAL shall have at least one hundred and eighty (180) days’ notice of such anticipated date, but the State is free to elect to receive the State Participation at any time.
The Contractor shall keep NOCAL fully informed of the date on which Commercial Production from the Delimited Area is expected to begin such that NOCAL shall have at least one hundred and eighty (180) days’ Notice of such anticipated date.
NOCAL may recover any payments made by it under this paragraph only after the Non-State Parties have recovered all amounts to which they are then entitled under Article 17.1(a) and (c).
If the Minister of Finance and Development Planning and the Director General agree after consultation with NOCAL that such right should be exercised, the Authority shall give written notice of such election to the Contractor no later than ninety (90) days prior to the start of Commercial Production within an Exploitation Area to the non-State entities comprising the Contractor.
Notwithstanding the preceding two sentences, such waiver need not cover NOCAL in its capacity as a participant in this Contract, and such insurance is not required to cover NOCAL with respect to loss, damage or liabilities incurred by it that it would not have incurred had it not been a participant in this Contract.
In the same manner, if the Contractor, after completion of appraisal works, considers that the Non-Associated Natural Gas discovery is not commercial, NOCAL may, by giving three (3) months prior notice, unless the exclusive exploration authorization expires earlier, require the Contractor to surrender its rights on the area encompassing said discovery.
The Contractor will on request discuss with NOCAL or EPA any changes NOCAL or EPA recommends or believes necessary to comply with applicable Law.
If upon expiration of the exploitation period of twenty-five (25) years above- defined a commercial exploitation of a Field remains possible, NOCAL may authorize the Contractor, at the latter’s request submitted at least twelve (12) months prior to said expiration, to continue under this Contract the exploitation of said Field during an additional period of no more than ten (10) years, provided that the Contractor has fulfilled all its obligations during the current exploitation period.
For the avoidance of doubt, NOCAL is under no obligation to extend any exclusive exploitation authorization under the terms and conditions in this Contract or under new terms and conditions.