Target Depth(s) definition
Target Depth(s) means (i) for each Company Well listed on Annex 3 that has been completed as of the Execution Date, the depth or depths, as the case may be, to which such Company Well is completed as of the Execution Date, (ii) for each Company Well listed on Annex 3 that has not been completed as of the Execution Date, the depth or depths described on Annex 3 for such Company Well, and (iii) for each Lease described on Annex 3, the depths described on Annex 3 for such Lease.
Examples of Target Depth(s) in a sentence
Exhibit C sets forth the agreed allocation of the Purchase Price among the Leases and ▇▇▇▇▇ (including with respect to Target Depth(s)) for purposes of determining Purchase Price adjustments under this Agreement; the value assigned to each portion of the Conveyed Interests in Exhibit C is hereafter referred to as the “Allocated Value” of that portion of the Conveyed Interests.