Development of Required ▇▇▇▇▇ Sample Clauses

Development of Required ▇▇▇▇▇. The following procedures shall apply to the Required ▇▇▇▇▇. (a) Attached hereto as Exhibit C is a draft Authorization for Expenditure (“AFE”) which sets forth the estimated costs associated with the drilling, completion and equipping of the Dansville #12 Well, which is the First Required Well. On or before September 1, 2011, Range shall deliver to LJM an AFE, consistent with Section 3.1(b) below and in form similar to the draft AFE attached hereto as Exhibit C, for the drilling, completion and equipping of the First Required Well in the Dansville Prospect. It is the intent and expectation of the Parties that the First Required Well will be spudded prior to September 30, 2011 and that it will be drilled, completed and equipped prior to December 31, 2011. It is anticipated that each of the remaining two of the Required ▇▇▇▇▇ will be spudded prior to December 31, 2011. (b) Each AFE (whether for a Required Well or for an Additional Well) shall describe the location of the subject Well and the proposed timing for the drilling and completion of such Well. The AFE for each Required Well will include the Prospect Fee for that Well. The AFE shall also provide an estimate of the cost of the: (i) Pre-drilling and drilling of each Well (the “AFE Dry Hole Amount”); (ii) Completion of each Well (including casing, fracturing and/or treatment); and (iii) Equipping of each Well for production (including, inter alia, the cost of the tanks and lifting equipment). (c) The following procedures relate to the First Required Well: (i) Within fifteen (15) Business Days following the execution of this Agreement, LJM will pay to Range the sum of One Hundred and Eighty Five Thousand Dollars ($185,000) representing an estimate of fifty percent (50%) of LJM’s seventy percent (70%) share of the AFE Dry Hole Amount for the First Required Well (the “First AFE Payment”). Within ten (10) Business Days following the delivery of the AFE for the First Required Well to LJM, LJM shall pay Range the balance of its seventy percent (70%) share of the AFE Dry Hole Amount and the Prospect Fee for the First Required Well (the “Second AFE Payment”) . Within 5 days after the First Required Well reaches total depth, LJM will pay Range the remainder of its share of the AFE Amount (the “Final AFE Payment”). (ii) The Parties recognize that the amounts contained in any AFE are only estimates of known costs and that those estimates may be incorrect or there may be costs that were unknown at the time of the AF...
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Related to Development of Required ▇▇▇▇▇

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in ▇▇▇▇▇, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • Completion of Concrete Pours and Emergency Work (a) Except as provided in this sub-clause an Employee shall nor work or be required to work in the rain. (b) Employees shall not be required to start a concrete pour in Inclement Weather. (c) Where a concrete pour has been commenced prior to the commencement of a period of Inclement Weather Employees may be required to complete such concrete pour to a practical stage and for such work shall be paid at the rate of double time calculated to the next hour, and in the case of wet weather shall be provided with adequate wet weather gear. (d) If an Employee’s clothes become wet as a result of working in the rain during a concrete pour the Employee shall, unless the Employee has a change of dry working clothes available, be allowed to go home without loss of pay. (e) The provisions of clauses 32.7(c) and 32.7(d) hereof shall also apply in the case of emergency work where the Employees concerned and their delegates agree that the work is of an emergency nature and can start and/or proceed.

  • Project Specific Milestones In addition to the milestones stated in Section 212.5 of the Tariff, as applicable, during the term of this ISA, Interconnection Customer shall ensure that it meets each of the following development milestones: 6.1 Substantial Site work completed. On or before July 1, 2021, Interconnection Customer must demonstrate completion of at least 20% of project site construction. At this time, Interconnection Customer must submit to Interconnected Transmission Owner and Transmission Provider initial drawings, certified by a professional engineer, of the Customer Interconnection Facilities. 6.2 Delivery of major electrical equipment. On or before July 15, 2021, Interconnection Customer must demonstrate that all generating units have been delivered to Interconnection Customer’s project site.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • DEVELOPMENT OR ASSISTANCE IN DEVELOPMENT OF SPECIFICATIONS REQUIREMENTS/ STATEMENTS OF WORK