Subsequent Exploration Period definition

Subsequent Exploration Period means three (3) maximum consecutive Contract Years following the Initial Exploration Period subject to provisions contained in Article 3 of Production Sharing Contract.
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Examples of Subsequent Exploration Period in a sentence

  • The Initial Exploration Period shall consist of the first four consecutive Contract Years with provision to proceed to the Subsequent Exploration Period of maximum three consecutive years subject to provisions contained in Article 3.

  • However, if a Well is still being drilled or tested at the end of the Initial Exploration Period, or the Subsequent Exploration Period, such period shall be extended for a period sufficient to allow Contractor to complete the drilling or testing of such Well, provided that such period shall not exceed one hundred and twenty (120) days in aggregate.

  • One-time Bank Guarantee (BG) valid for the Initial or Subsequent Exploration Period for the Minimum Work Programme at the rate of 7.5% shall be given by the contractor.

  • The Exploration Period shall consist of Initial Exploration Period and Subsequent Exploration Period.

  • The Initial Exploration Period shall be for six (6) consecutive Contract Years and Subsequent Exploration Period shall be for three (3) consecutive Contract Years.

  • THE CONTRACTOR may undertake Exploration Operations that are additional to the ones contained in the Exploration Program or in the Subsequent Exploration Program, without these Exploration Operations resulting in a modifying of the period agreed for the performance of the Exploration Period or the Subsequent Exploration Period of the ongoing phase or the phases that follow.

  • The Initial Exploration Period shall be for five (5) consecutive Contract Years and Subsequent Exploration Period shall be for three (3) Contract Years.

  • If the discovery is a result of carrying out the Subsequent Exploration Period, the CONTRACTOR shall submit the Evaluation Program within 6 months following the termination of the drilling of the discovering Exploratory Well, and in any event, before returning the areas as per Clause 6 hereto.

Related to Subsequent Exploration Period

  • 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.

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

  • Contract Transition Period means the 90 day transition as defined in Section F of this Contract.

  • Operating Period for any Element of the Project shall mean the period from (and including) the COD of such Element of the Project, up to (and including) the Expiry Date and for the Project, shall mean the period from (and including) the COD of the Project, up to (and including) the Expiry Date;

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Post-Acquisition Period means, with respect to any Permitted Acquisition, the period beginning on the date such Permitted Acquisition is consummated and ending on the last day of the sixth full consecutive fiscal quarter immediately following the date on which such Permitted Acquisition is consummated.

  • Earn-Out Period has the meaning set forth in Section 2.6.1.

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Ramp Period The Ramp Period shall begin on the Effective Date and continue for a period of 3 months following the Effective Date. Commencing with the Effective Date and at all times during the Ramp Period thereafter, Customer will receive the rates, discounts, charges and credits set forth herein and will not be subject to the AVC. Annual Volume Commitment (“AVC”): $360,000 in Total Service Charges (“AVC”) during each contract year of the Term (following the expiration of the Ramp Period).

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Commissioning Period means, with respect to each Subproject, the period commencing upon the first delivery of Feed Gas to the Subproject in accordance with Sections 4.8 and 11.1 of the Agreement continuing through achievement of RFSU, commissioning, Start Up, Performance Testing and achievement of Substantial Completion for such Subproject.

  • Run-Out Period means a period after the close of a Plan Year or other period during which Participants in a flexible spending arrangement (FSA) may request reimbursement for expenses incurred during the Period of Coverage.

  • Promotion Period means the period the Promotion is open, as specified in clause 5.1.

  • Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

  • Net metering period means the 12-month period following the date of final interconnection of the

  • Post-Distribution Period means any Tax Period beginning after the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date.

  • Option Period means the period during which an Option may be exercised.

  • PEA Period means the period commencing at 9:30 a.m., Eastern time, on the fifth (5th) Business Day immediately prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately following, the effective date of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement (as such term is defined in the Registration Rights Agreement).

  • Start-up Period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • Opt-Out Period means the period that begins the day after the earliest date on which the Notice is first distributed, and that ends no later than 30 days before the Final Approval Hearing. The deadline for the Opt-Out Period shall be specified in the Notice.

  • Remediation Period has the meaning specified in Section 8.2(a);

  • Qualified Project Period means Qualified Project Period as defined in Section 142(d) of the Internal Revenue Code.

  • Pre-Deconsolidation Period means any taxable period beginning on or prior to the applicable Deconsolidation Date.