Work Obligation definition

Work Obligation means the minimum work and expenditure requirements from time to time being conditions of grant of the Permit; and
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Work Obligation means the minimum work and expenditure requirements from time to time being conditions of grant of the Permit; and "Work Period" means the period the subject of an approved Work Program and Budget.
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Work Obligation means in respect of the Permit, an obligation, if any, pursuant to the terms of the Permit or the Act to expend sums and/or carry out work in relation to the Permit; “Year” means a calendar year.
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Examples of Work Obligation in a sentence

  • On or before entering into any phase of the Exploration Period, Contractor shall provide Staatsolie with a Parent Company Performance Guarantee guaranteeing the execution of the Minimum Work Obligation, for the relevant phase as described in Annex 7.

  • Should AuEx be the acquiring party and LBSV elect to accept the additional property into the Property, LBSV shall reimburse AuEx for its acquisition costs, and the amount of such reimbursement shall accrue toward the Aggregate Work Obligation.

  • All costs incurred by LBSV for acquiring additional property that becomes subject to this Agreement shall accrue toward the LBSV Aggregate Work Obligation.

  • Any approved Work Program and Budget decided and submitted by Operator to the Government pursuant to Section 5.2(B)(1)(c) instead of being decided by the Operating Committee pursuant to Section 5.9, however, shall include only such operations for the Joint Account as are necessary to maintain the Contract in full force and effect, including such operations as are necessary to fulfill the Minimum Work Obligation required for the given Calendar Year.

  • Except in accordance with the terms of this Agreement, a Party shall not acquire any rights, directly or indirectly, in any exploration licences, ▇▇▇▇▇, or other, petroleum, and or natural gas interests in the “Area of Mutual Interest” or the “AMI”) at any time for the period from the Effective Date until 120 days after the date of completion of the Minimum Work Obligation (the “AMI Period”).

  • After the Minimum Work Obligation has been fulfilled, any Participant shall have the right to elect, by giving notice to the other Participants, to withdraw from this Contract and the JOA.

  • In the event that the CONTRACTOR timely gives the required written notice to the DEPARTMENT to enter into the Second Exploration Period, the CONTRACTOR shall meet the respective Minimum Work Obligation for such period, and any extension thereof, as set forth in Annex "C" of this Agreement.

  • B During the First Exploration Period, and any extension thereof the CONTRACTOR shall meet the respective Minimum Work Obligation for such period as set forth in Annex "C" of this Agreement.

  • The Operating Committee shall be deemed to have approved such program and budget and all AFEs necessary to give effect thereto and each of the Parties shall be liable to the extent of its Participating Interest for all costs and expenses incurred by the Operator in carrying out the Work Obligation in accordance with the AFEs.

  • The Work Obligation of $10,000.00 described in Section 1.4 of the Mining Lease shall be fulfilled by Magellan Gold on or before December 31, 2011.