Obstacles to the Continuation of Drilling definition

Obstacles to the Continuation of Drilling refers to situations when, before reaching the targeted depth for any Well: (i) a geological formation is encountered which is older than the deepest formation that was established as a goal; (ii) it is determined that to continue drilling is dangerous, including dangers associated with abnormally high pressure or results in excessive loss of drilling fluids; (iii) an impenetrable formation is encountered which prevents reaching the anticipated depth, or (iv) a geological formation containing Hydrocarbons is encountered which must be protected pursuant to Industry Best Practices.
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Examples of Obstacles to the Continuation of Drilling in a sentence

  • Once the authorization for drilling any Well is received, the Contractor will be obliged to comply with the terms and conditions of the authorization and the required technical specifications in the Exploration Plan or Development Plan, unless there are Obstacles to the Continuation of Drilling.

  • Once the authorization for drilling any Well is received, the Contractor will be obligated to comply with the terms and conditions of the authorization and the required technical specifications in the approved Work Program, unless there are Obstacles to the Continuation of Drilling.

  • Once the authorization for the drilling of a Well is received, the Contractor will be obligated to comply with the terms and conditions related to the authorization and the required technical specifications described in the approved Work Program, unless there are Obstacles to the Continuation of Drilling.

  • Once the authorization for drilling any Well is received, the Contractor will be obligated to comply with the terms and conditions of the authorization and the required technical specifications in the Exploration Plan or Development Plan, unless there are Obstacles to the Continuation of Drilling.

  • Once the authorization for drilling any Well is received, the Contractor will be obliged to comply with the terms and conditions of the authorization and the required technical specifications in the Exploration Plan, Appraisal Program or Development Plan, unless there are Obstacles to the Continuation of Drilling.

Related to Obstacles to the Continuation of Drilling

  • Continuation Notice as defined in Section 2.17(a).

  • Notice of Continuation means a notice substantially in the form of Exhibit D (or such other form reasonably acceptable to the Administrative Agent and containing the information required in such Exhibit) to be delivered to the Administrative Agent pursuant to Section 2.8. evidencing the Borrower’s request for the Continuation of a LIBOR Loan.

  • Conversion/Continuation Notice is defined in Section 2.9.

  • Notice of Continuation or Conversion has the meaning provided in Section 2.10(b).

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • Notice of Conversion or Continuation shall have the meaning provided in Section 2.6(a).

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • Discontinuation Event means (i) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete copies thereof and all written responses thereto to each of the Holders); (ii) any request by the Commission or any other Federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information; (iii) the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and/or (v) the occurrence of any event or passage of time that makes the financial statements included in such Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration Statement or Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

  • Continuation Date means any date on which Borrower continues a LIBOR Advance into another Interest Period.

  • Notice of Continuation/Conversion has the meaning specified in Section 2.2(b).

  • Notice of Conversion/Continuation has the meaning assigned thereto in Section 4.2.

  • COBRA continuation provision means any of the following:

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • Continuation/Conversion Notice means a notice of continuation or conversion and certificate duly executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto.

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Continuation statement means an amendment of a financing statement which:

  • Continuation and “Continued” each refers to the continuation of a LIBOR Loan from one Interest Period to another Interest Period pursuant to Section 2.9.

  • Continuation Coverage means coverage under a COBRA continuation provision or a similar state program. Coverage provided by a plan that is subject to a COBRA continuation provision or similar state program, but that does not satisfy all the requirements of that provision or program, will be deemed to be continuation coverage if it allows an individual to elect to continue coverage for a period of at least 18 months. Continuation coverage does not include coverage under a conversion policy required to be offered to an individual upon exhaustion of continuation coverage, nor does it include continuation coverage under the Federal Employees Health Benefits Program.

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Certificate of Continuing Program Compliance means the Certificate to be filed by the Owner with the Administrator, on behalf of the Issuer, and the Trustee pursuant to Section 4(f) hereof, which shall be substantially in the form attached as Exhibit C hereto or in such other comparable form as may be provided by the Issuer to the Owner, or as otherwise approved by the Issuer.

  • Conversion therapy means any practice or treatment as defined in § 54.1-2409.5 A of the Code of Virginia.

  • Basic hospital cover means a hospital policy that includes the clinical categories that must be covered by a basic hospital product.

  • CAFA Notice refers to the notice requirements imposed by 28 U.S.C. § 1715(b).

  • Request for Loan means a written request for a Loan substantially in the form of Exhibit E, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be included therein.

  • L/C Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Eurodollar Disruption Event The occurrence of any of the following: (a) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that it would be contrary to law or to the directive of any central bank or other governmental authority (whether or not having the force of law) to obtain Dollars in the London interbank market to fund any Advance, (b) any Liquidity Bank shall have notified the Administrative Agent of the inability, for any reason, of such Liquidity Bank or any of its assignees or participants to determine the Adjusted Eurodollar Rate, (c) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that the rate at which deposits of Dollars are being offered to such Liquidity Bank or any of its assignees or participants in the London interbank market does not accurately reflect the cost to such Liquidity Bank, such assignee or such participant of making, funding or maintaining any Advance, (d) any Liquidity Bank shall have notified the Administrative Agent of the inability of such Liquidity Bank or any of its assignees or participants to obtain Dollars in the London interbank market to make, fund or maintain any Advance or (e) any Liquidity Bank shall have notified the Administrative Agent that the principal amount of Advances to be funded by it is less than $500,000.