Contractor’s Obligation to Make Payment Sample Clauses

Contractor’s Obligation to Make Payment. 5.8.1 Subject to Sub-article 3.3, if at the end of the relevant Exploration phase the Minimum Work Obligations for such phase of the Exploration Period have not been fulfilled, as set out in Article 5.2, Contractor or the Company that issued the Parent Company Performance Guarantee shall pay Staatsolie the difference between (i) and (ii) below: (i) The estimated cost of the Minimum Work Obligation for each Exploration phase, are as follows: For phase 1, US$ eight (8) million; for phase 2, US$ eight-five (85) million; and for phase 3 US$ one hundred (100) million; and (ii) the Exploration Expenditures attributable to such phase of the Exploration Period, incurred by Contractor up to the date of the decision to withdraw was received by Staatsolie. 5.8.2 Subject to Sub-article 3.3, if the Minimum Work Obligations of any phase of the Exploration Period has not been fulfilled prior to the end of such phase, as determined in accordance with Article 5, Contractor shall be deemed to have withdrawn from the Contract at the end of such phase, and shall pay Staatsolie the amount calculated based on Sub-article 5.8.1
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Contractor’s Obligation to Make Payment. Subject to Sub-Article 3.3, if at the end of each Exploration phase the Minimum Work Obligations for such phase of the Exploration Period have not been fulfilled, as set out in Sub-Article 5.2, Contractor shall be deemed to have withdrawn from the Contract at the end of such phase. Contractor or, in the event Contractor defaults in its obligation herein, the company that issued the Company Performance Guarantee shall then pay Staatsolie the difference between (i) and (ii) below: (i) The estimated cost of the Minimum Work Obligation for each Exploration phase being : - for phase 1,… million US Dollars (US$ ..,000,000) - for phase 2, … million US Dollars (US$ ..,000,000) - for phase 3 … million US Dollars (US$ ..,000,000) (ii) the Exploration Expenditures attributable to such phase of the Exploration Period, incurred by Contractor.
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Related to Contractor’s Obligation to Make Payment

  • Contractor’s Obligations Pursuant to this contract, the Contractor agrees to provide the specific services detailed herein and shall be responsible for the following:

  • Vendor’s Obligations Vendor shall incur no further obligations in connection with the terminated work and on the date set in the notice of termination Vendor will stop work to the extent specified. Vendor shall also terminate outstanding orders and subcontracts as they relate to the terminated work. Vendor shall settle the liabilities and claims arising out of the termination of subcontracts and orders connected with the terminated work. The MTC or designee may direct Vendor to assign Vendor’s right, title, and interest under terminated orders or subcontracts to the MTC. Vendor must still complete the work not terminated by the notice of termination and may incur obligations as are necessary to do so.

  • Obligation to Make Payments Any Interconnection Party's obligation to make payments for services shall not be suspended by Force Majeure.

  • Licensors Obligations The Licensor shall [use all reasonable efforts] to deliver the Delivery Materials to the Licensee on or before the Delivery Date. “

  • CONTRACTOR’S OBLIGATION FOR RESELLER PARTICIPATION Contractor shall not, directly or indirectly, by agreement, communication or any other means, restrict any Reseller’s participation or ability to participate or compete in an Authorized User RFQ. Conditions of Reseller Participation Resellers must be approved in advance by OGS and posted to the State website before they may respond to an Authorized User’s RFQ. OGS also reserves the right to rescind any such participation at any time or request that Contractor name additional Resellers, in the best interests of Authorized Users, at the OGS’s sole discretion. Contractor shall have the right to qualify Resellers and their participation under this Contract provided that: