Date of Commencement of Commercial Production definition

Date of Commencement of Commercial Production means, in respect of each Development and Production Area, the date on which production of Petroleum under a program of regular production, lifting and sale commences;

Date of Commencement of Commercial Production means the first day of the calendar quarter after the calendar quarter in which Commercial production first occurs.

Date of Commencement of Commercial Production means the first day of the calendar quarter after the calendar quarter in which Commercial Production first occurs.

Examples of Date of Commencement of Commercial Production in a sentence

• For the purposes of such adjustment, the “Base Index” shall be calculated by ascertaining the arithmetic average of the Adjustment Index for each quarter during the calendar year preceding the Date of Commencement of Commercial Production.

• Consideration should be given to indexing this type of royalty for inflation given the extended term of the Agreement.] MINERAL ROYALTY RATE [] per ton [Note: Example optional provision to adjust unit-based Royalty for inflation: The Royalty rate for each Mineral shall be adjusted annually every ____ years after the Date of Commencement of Commercial Production at the commencement of such year.

• The Company shall use its best efforts to construct and provide the required facilities and carry out the Project with due diligence, efficiency and economy, according to the terms and conditions of this Agreement and Good Industry Practice at a cost of not less than [$ MILLION] per year up to the Date of Commencement of Commercial Production.

• Within thirty (30) days after the Date of Commencement of Commercial Production, the Contractor shall notify the Secretary, Director and Regional Director of such commencement.

• In computing taxable income, the Contractor may, at its option, deduct exploration and development expenditures accumulated at cost as of the Effective Date as well as exploration and development expenditures incurred during the taxable year: Provided, That the total amount deductible for exploration and development expenditures incurred prior to the Date of Commencement of Commercial Production shall not exceed twenty-five percent (25%) of the Net Income from Mining Operations.

More Definitions of Date of Commencement of Commercial Production

Date of Commencement of Commercial Production means the date after Completion which is the first day of the first three month period (whether calendar months or otherwise) during which period the average rate of production at the Mine is at least 400 tonnes per day (with production calculated on the basis of mined material processed through the plant);

Date of Commencement of Commercial Production means the date of commencement of the production period for Crude Oil and/or Natural Gas from the Oil Field announced by JMC in accordance with the provisions of Article 7.2.6 hereof when the aggregate amount of Crude Oil produced from the Oil Field from the date of submission of the Overall Development Program to CNPC for approval has reached 40,000 tonnes and after approval by CNPC.

Date of Commencement of Commercial Production means the first day of the calendar quarter after that quarter in which the cumulative Minerals production equals twenty percent (20.0%) of the Project’s constructed initial annual design capacity as shown in the Feasibility Study.

Date of Commencement of Commercial Production means the date of commencement and delivery of the production of CBM from any CBM Field proposed and announced by JMC in accordance with the provisions in Article 7.2.5 hereof.

Date of Commencement of Commercial Production means the date on which the industrial undertaking starts commercial production, as certified by the Department of Industries and Commerce Jammu and Kashmir;

Date of Commencement of Commercial Production means the date upon which the Mining facility comprising the Revised Project constructed during Phase 3 of the Project, as defined in article 5 of the Amended and Restated Mining Convention, first achieves 90% of the designed rate of production of Products, for a period of 3 consecutive months. Such date to be notified to the Shareholders by the Managing Director, but no later than 180 days after the date of the first shipment of Product, it being understood that all monthly production will be shipped.

Date of Commencement of Commercial Production means the day on which EMRA and the Company agreed that production of ….. Ore and its associated minerals has commercially commenced.