Appraisal Plan Sample Clauses

Appraisal Plan. Any Appraisal Plan submitted pursuant to Article 5.1 shall establish the content of the Appraisal activities for a period of up to three (3) Years from the date of approval of such plan (the “Appraisal Period”). The Appraisal Plan for the Discovery shall cover the entire area of the structure in which the Discovery was made (the “Appraisal Area”), and shall contain at least the items indicated in Annex 6, with a scope broad enough to allow for an evaluation to determine whether the Discovery can be considered a Commercial Discovery. The Appraisal Plan may include the re-appraisal of any Discovery within the Contract Area which has not been declared as a Commercial Discovery. The Contractor may request, by written notice to the CNH within sixty (60) Days prior to the termination of the Appraisal Period, the extension of this period in order to complete ongoing activities contemplated in the Appraisal Plan that for reasons not attributable to the Contractor are impossible to conclude within the period referred to in this Article 5.2. The CNH will approve the extension in terms of the Applicable Laws. The CNH will decide on the proposed Appraisal Plan within a period not to exceed sixty (60) Days following the receipt of the necessary information pursuant to the Applicable Laws. The CNH will base and motivate its resolution.
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Appraisal Plan. (a) If, pursuant to Articles 3.4 and 3.5, Contractor notifies ROC that the Discovery or multiple Discoveries is a Potentially Commercial Discovery, then Contractor shall prepare and submit, within two (2) months of such notification, or such longer period as ROC may agree, a proposed Appraisal Plan along with a Work Program and Budget. The proposed Appraisal Plan shall be designed to carry out an adequate and effective Appraisal of the Discovery(s) and determine:
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Appraisal Plan. Within ninety (90) Days following the Effective Date, the Contractor shall submit the Appraisal Plan to CNH for its approval. The Appraisal Plan shall cover the full extension of the Contract Area and must contain the information stated in Annex 7 (including the Risk Management Program). CNH will decide on the proposed Appraisal Plan within a period not to exceed sixty (60) Days following its submission of the necessary information pursuant to the terms of the Applicable Laws. CNH may not deny its approval without just cause. Without prejudice of its ability to approve the Appraisal Plan within the period indicated in this Article 4.1, CNH may issue observations regarding such Appraisal Plan, when it was not drafted as provided by the Industry Best Practices regarding the evaluation of the Hydrocarbons potential, including environmental, industrial security and health standards within the work place. The Contractor must provide the operative solutions and the correspondent adjustments to the Appraisal Plan in response to the observations issued by CNH. Hearings or attendances may be held in order to resolve in good faith any technical difference that may exist regarding the observations of the Appraisal Plan, in accordance with the Industry Best Practices and the Applicable Law.
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Appraisal Plan. 22 5.3 ............... Hydrocarbons Extracted During Tests 23 5.4 ............... Appraisal Report. 23 ARTICLE 6. DEVELOPMENT 24 6.1 ............... Commercial Discovery 24
Sample 1
Appraisal Plan. The Appraisal Plan submitted pursuant to Article 5.1 shall establish the content of the Appraisal activities for a period of up to three (3) Years from the date of approval of such plan (the “Appraisal Period”). The Appraisal Plan for the Discovery shall cover the entire area of the structure in which the Discovery was made (the “Appraisal Area”), and shall contain at a minimum the items indicated in Annex 6, with a sufficient scope to allow for an evaluation to determine whether the Discovery can be considered a Commercial Discovery. CNH will decide on the proposed Appraisal Plan within a period not to exceed sixty (60) Days following the receipt of the necessary information pursuant to the Applicable Laws. CNH will base and motivate its resolution.
Sample 1

Related to Appraisal Plan

  • Appraisal Period (i) When a currently employed regular employee is selected to fill a vacancy posted under Article 13.01, the employee shall serve an appraisal period not exceeding six (6) calendar months in the new position. During this period the employee shall be returned to their former position (or equivalent to their former position as mutually agreed between the Employer and the Union) and pay rate without a loss in seniority in the following circumstances:

  • Appraisal Procedure For determining the Fair Market Sales Value of the Properties or any other amount which may, pursuant to any provision of any Operative Agreement, be determined by an appraisal procedure, Lessor and Lessee shall use the following procedure (the "Appraisal Procedure"). Lessor and Lessee shall endeavor to reach a mutual agreement as to such amount for a period of ten (10) days from commencement of the Appraisal Procedure under the applicable section of the Lease, and if they cannot agree within ten (10) days, then two (2) qualified appraisers, one (1) chosen by Lessee and one (1) chosen by Lessor, shall mutually agree thereupon, but if either party shall fail to choose an appraiser within twenty (20) days after notice from the other party of the selection of its appraiser, then the appraisal by such appointed appraiser shall be binding on Lessee and Lessor. If the two (2) appraisers cannot agree within twenty (20) days after both shall have been appointed, then a third appraiser shall be selected by the two (2) appraisers or, failing agreement as to such third appraiser within thirty (30) days after both shall have been appointed, by the American Arbitration Association. The decisions of the three (3) appraisers shall be given within twenty (20) days of the appointment of the third appraiser and the decision of the appraiser most different from the average of the other two (2) shall be discarded and such average shall be binding on Lessor and Lessee; provided, that if the highest appraisal and the lowest appraisal are equidistant from the third appraisal, the third appraisal shall be binding on Lessor and Lessee. The fees and expenses of the appraiser appointed by Lessee shall be paid by Lessee; the fees and expenses of the appraiser appointed by Lessor shall be paid by Lessor (such fees and expenses not being indemnified pursuant to Section 11 of the Participation Agreement); and the fees and expenses of the third appraiser shall be divided equally between Lessee and Lessor.

  • Employee Appraisal Forms (a) Where a formal appraisal of an employee's performance is carried out, the employee shall be given sufficient opportunity to read, review and ask questions about the appraisal. Upon request, the employee will be given three working days to read and review the appraisal.

  • Independent Expert The Parties and the other signatories may, upon written agreement, resort to an independent expert in order to obtain a well-grounded opinion that may lead to the settlement of the dispute or controversy. In case such agreement is signed, arbitration may only be filed after issuance of the expert’s opinion.

  • Appraisal The Mortgage File contains an appraisal of the related Mortgaged Property with an appraisal date within 6 months of the Mortgage Loan origination date, and within 12 months of the Cut-off Date. The appraisal is signed by an appraiser that (i) was engaged directly by the originator of the Mortgage Loan or the Mortgage Loan Seller, or a correspondent or agent of the originator of the Mortgage Loan or the Mortgage Loan Seller, and (ii) to the Mortgage Loan Seller’s knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan. Each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation.

  • Performance Appraisal The Executive’s performance may be evaluated by the Board of Directors or the Committee from time to time. The Executive shall be entitled to such additional remuneration, including but not limited to annual bonuses based on performance, as the Board of Directors or the Committee may, in its discretion, determine from time to time.

  • Independent Audit The Grantee shall submit, in a format specified by the department, the independent financial compliance audit prepared by an independent Certified Public Accountant for the previous fiscal year. The audit shall follow the General Grant Requirements of Sections VIII (F) and (G) and be submitted no later than March 1 of the current fiscal year.

  • Expert Determination If a Dispute relates to any aspect of the technology underlying the provision of the Goods and/or Services or otherwise relates to a financial technical or other aspect of a technical nature (as the Parties may agree) and the Dispute has not been resolved by discussion or mediation, then either Party may request (which request will not be unreasonably withheld or delayed) by written notice to the other that the Dispute is referred to an Expert for determination. The Expert shall be appointed by agreement in writing between the Parties, but in the event of a failure to agree within ten (10) Working Days, or if the person appointed is unable or unwilling to act, the Expert shall be appointed on the instructions of the relevant professional body. The Expert shall act on the following basis: he/she shall act as an expert and not as an arbitrator and shall act fairly and impartially; the Expert's determination shall (in the absence of a material failure to follow the agreed procedures) be final and binding on the Parties; the Expert shall decide the procedure to be followed in the determination and shall be requested to make his/her determination within thirty (30) Working Days of his appointment or as soon as reasonably practicable thereafter and the Parties shall assist and provide the documentation that the Expert requires for the purpose of the determination; any amount payable by one Party to another as a result of the Expert's determination shall be due and payable within twenty (20) Working Days of the Expert's determination being notified to the Parties; the process shall be conducted in private and shall be confidential; and the Expert shall determine how and by whom the costs of the determination, including his/her fees and expenses, are to be paid.

  • Independent Engineer Contractor shall cooperate with Independent Engineer in the conduct of his or her duties in relation to the Project and the Work, including the duties listed in Attachment CC. No review, approval or disapproval by Independent Engineer shall serve to reduce or limit the liability of Contractor to Owner under this Agreement.

  • Independent Status The employees, volunteers, or agents of each party who are engaged in the performance of this Agreement will continue to be employees, volunteers, or agents of that party and will not for any purpose be employees, volunteers, or agents of the other party.

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