Common use of Production Period Clause in Contracts

Production Period. The production period will last for a period of twenty-four (24) years, starting on the date in which XXX receives from THE CONTRACTOR the Declaration of Marketability mentioned in Clause 15 below. The Production Period will be estimated separately for each Production Area, and consequently, all references to duration, extension or termination of the Production Period refer to each particular Production Area.

Production Period. The production period will last for Production Period shall have a period term of twenty-twenty four (24) years, starting on years counted from the date in which when XXX receives the Declaration of Commerciality from THE CONTRACTOR the Declaration of Marketability mentioned as referred in Clause 15 below15. The Production Period will be estimated applies separately for to each Production AreaArea and, and consequentlytherefore, all the references to duration, extension or termination of the Production Period refer to each particular Production Area.