Project Start-up definition
Examples of Project Start-up in a sentence
For State RIK Gas produced prior to Project Start-up of a Major Gas Sale, the State will not be responsible for Field Costs for State RIK Gas that is delivered to the State at the PTU Delivery Point, regardless of whether the State RIK Gas is injected into the PBU reservoir.
This Paragraph 4.2 expires upon IPS Project Start-up, but in no event extends beyond year-end 2019, which date is fixed and not subject to Paragraph 4.14.
If IPS Project Start-up has not occurred and a Major Gas Sale is Sanctioned prior to year-end 2019, any acreage that contracts from the Point Thomson Unit under Paragraph 4.2 of this Agreement shall not be recommitted to the Point Thomson Unit.
If the State elects to receive a payment for its share of State RIK Gas that was injected into the PBU reservoir prior to Project Start-up of a Major Gas Sale, payment will be calculated based on the royalty in value basis for Point Thomson gas under the applicable leases, at the time the gas is withdrawn from the PBU reservoir.
If IPS Project Start-up has not occurred and the Initial PA has not been formed, but a Major Gas Sale is Sanctioned, such acreage shall remain in the Point Thomson Unit and shall be subject to elimination from the Point Thomson Unit in accordance with the terms of the PTUA including applicable State law, including Section 2(e), as if the Initial PA had been formed effective May 1, 2016.
Upon Project Start-up of a Point Thomson Gas Development / Prudhoe Bay Enhanced Recovery Project, the obligations set forth in Paragraph 4.1.1 shall terminate.
If IPS Project Start-up has occurred and a Major Gas Sale has been Sanctioned by year-end 2019, then all acreage, except as set forth in Paragraph 4.7, shall remain in the Point Thomson Unit at year-end 2019 and shall be entitled to be included in a PA as set forth in Paragraphs 4.4.2 and 4.5.1.
Following IPS Project Start-up, the WIOs may submit a royalty modification application requesting a royalty reduction.
For Point Thomson gas produced after Project Start-up of a Major Gas Sale, the State will be responsible for Field Costs to the extent provided under the Point Thomson leases and other applicable agreements.
The work plans for the development and operation for the unitized land set forth in Paragraphs 4.1.1 through 4.1.4 shall constitute the drilling and operating obligations under Section 10 of the PTUA until May 1, 2017, unless IPS Project Start-up has not occurred due to factors outside the control of the WIOs under Paragraph 4.2.3 or force majeure under Paragraph 4.14, then until one year following IPS Project Start-up.