Additional Exploration Period Sample Clauses
The Additional Exploration Period clause grants a party, typically in a resource or mineral exploration agreement, the right to extend the initial exploration timeframe beyond its original term. This extension is usually subject to certain conditions, such as providing notice to the other party, paying an additional fee, or meeting specific performance criteria. By allowing for extra time to conduct further exploration activities, this clause ensures that the exploring party can adequately assess the potential of the property, thereby reducing the risk of missing valuable resources due to time constraints.
Additional Exploration Period. Subject to this Article 4.3, by written notice to CNH at least sixty (60) Days prior to the termination of the Initial Exploration Period, the Contractor may request an extension of the Exploration Period for two (2) additional Contract Years following the termination of the Initial Exploration Period. The Contractor may request such extension only if it: (i) has fully complied with the Minimum Work Program during the Initial Exploration Period; (ii) agrees to comply with the Minimum Program Increase not performed during the Initial Exploration Period, and (iii) agrees in addition to perform at least the Work Units equivalents to one (1) Well during the Additional Exploration Period. CNH will approve such extension, if the three (3) foregoing conditions are satisfied; it receives the Additional Period Guarantee within ten (10) Business Days after CNH approves the extension and if the Contractor has complied with all of its other obligations under this Contract. In the event that during the Initial Exploration Period, the Contractor carried out additional Work Units to those provided in the Minimum Work Program, the Contractor may request the recognition of such additional Work Units as part of the Additional Exploration Period commitment. Such request must be included in the request for the extension of the Exploration Period as provided in this Article 4.3.
Additional Exploration Period. Əgər Podratçı 4.2(a) (i)–
Additional Exploration Period. (a) Subject to complete and timely fulfillment by Contractor of the exploration work as set out in Article 4.2(a) to be performed during the Exploration Period, Contractor may, ninety (90) days prior to the end of the Exploration Period, notify SOCAR in writing of its desire to carry out additional exploration work and provide a list of types and scope of work and justification of such additional exploration work. Such notice shall request SOCAR's written approval to the performance by Contractor of additional exploration work during the Additional Exploration Period and SOCAR shall declare in writing its approval or disapproval (such approval not to be unreasonably withheld) within ninety (90) days of receipt of such written request from Contractor and the Exploration Period shall automatically be extended until such approval has been given by SOCAR. Contractor shall have the right to proceed to the Additional Exploration Period which shall not exceed three (3) years from the end of the Exploration Period or receipt of SOCAR's approval whichever is later. During the Additional Exploration Period Contractor shall drill two (2) exploration ▇▇▇▇▇.
Additional Exploration Period. Subject to complete and timely fulfilment by Contractor of the exploration work as set out in Article 4.2(a) to be performed during the Exploration Period, Contractor may within ninety (90) days before the end of the Exploration Period, notify SOCAR in writing of its desire to carry out additional exploration work and provide a list of types and scope of work and justification of such additional exploration work. Such notice shall request SOCAR's written approval to the performance by Contractor of additional exploration work during the Additional Exploration Period and SOCAR shall declare in writing its approval or disapproval (such approval not to be unreasonably withheld) within ninety (90) days of receipt of such written request from Contractor and the Exploration Period shall automatically be extended until such approval has been given by SOCAR. Contractor shall have the right to proceed to the Additional Exploration Period which shall be twelve (12) months from the end of the Exploration Period or receipt of SOCAR's approval whichever is later. During the Additional Exploration Period Contractor shall drill at least one (1) exploration well. Contractor’s failure to perform the additional exploration work (or any portion thereof) to be performed during the Additional Exploration Period other than as a result of Force Majeure shall constitute a Material Breach by Contractor of its obligations under this Agreement. In this case SOCAR shall have the right at its sole discretion to terminate this Agreement, and costs incurred by Contractor from the Effective Date during the Exploration Period, and the Additional Exploration Period including but not limited to bonus payments (including credit for any earlier bonus payments or any other payments made by Contractor) and acreage fees, shall not be Cost Recoverable.
Additional Exploration Period. 6g□r Podratçı ▇□şfiyyat işl□ri proqramını tam v□ vaxtında yerin□ yetirirs□, Podratçı ▇□şfiyyat dövrünün sonuna doxsan (90) gün qalmış AZ6RQIZIL-a □lav□ k□şfiyyat işl□ri aparmaq niyy□tind□ olduǧunu yazılı ş□kild□ bildirir v□ bu □lav□ k□şfiyyat işl□rinin növl□rinin v□ h□cml□rinin siyahısını t□qdim ed□r□k onların vacibliyini □saslandırır. AZ6RQIZIL Podratçının yazılı sorǧusunu aldıqdan sonra doxsan (90) gün □rzind□ razı olub-olmadıǧını yazılı ş□kild□ bildirir (Bel□ razılıq verm□kd□n □sassız imtina edilm□m□lidir). Podratçı on iki (12) ▇▇▇▇▇ ▇▇▇ olmayan 6lav□ k□şfiyyat dövrün□ başladıqda 6lav□ k□şfiyyat □m□liyyatları yerin□ yetirm□ldir. Subject to the complete and timely fulfillment by Contractor of the Exploration Work Program, Contractor may within ninety (90) days before the end of the Exploration Period, notify AZERGYZIL in writing of its desire to carry out additional exploration work and provide a list of types and scope of work and justification of such additional exploration work to the extent that AZERGYZIL shall declare in writing its approval or disapproval (such approval not to be unreasonably withheld) within ninety (90) days of receipt of such written request from Contractor. If Contractor proceeds to the Additional Exploration Period which shall not exceed twelve (12) months then Contractor shall carry out additional Exploration Operations.