EXPLORATION AUTHORIZATION Sample Clauses

EXPLORATION AUTHORIZATION. 3.1 The Exploration Authorization in the Exploration Perimeter defined in Appendix 1 shall be granted to the Contractor for a first phase of Four (4)
View SourceView Similar (10)
EXPLORATION AUTHORIZATION. Pursuant to what is provided by Article 53 paragraph 2 of the Mining Code and in is case, by articles 107, 113 and 116 of the same legal body, the Offeror hereby grants to RCR authorization to carry out all the works that may be necessary to recognize the geological potential of the lands comprised by the Properties subject of this Agreement. The Offeror hereby authorizes RCR, to perform exclusively exploration and prospecting work on the Properties while this Agreement lasts. Making use of the right of exploration and within the period indicated RCR is understood authorized to effect pro se and through its technical personnel or with the concourse or participation of third parties, all kinds of investigation, of reconnaissance, of exploration and of prospecting, and for this purpose may make geophysical, geological studies, obtain samples and make them its own, open test pits, make analyses, drillings, galleries, tunnels, roads and other reconnaissance works. RCR will also be especially authorized to request in favor of the Properties, mining easements of those contemplated in Article 120 and following and 126 and following of the Mining Code, being RCR responsible for the payment of the compensations or indemnifications caused by the constitution of such easements while this Agreement is effective, without any charge to the Oferrors nor their Shareholders. RCR shall be responsible for all the activities executed in the Properties subject of this Agreement. Likewise, RCR binds itself to carry out its activities in accordance with the technical regulations of protection of the environment and of safety established in the pertinent legal norms, requesting the permissions and authorizations as appropriate. In no event does RCR assume any responsibility for the present conditions of the place where the mining claims are established, derived from the activities developed prior to this date, responsibility that is for the exclusive account of the Offeror .
View SourceView Similar (8)
EXPLORATION AUTHORIZATION. 3.1 The Exploration Authorisation in the Exploration Perimeter defined in Appendix 1 shall be granted to the Contractor for an exploration period of a single thirty- (30-) month phase. The exploration period mentioned hereinabove in Article 3.1 is segmented into three sub-phases as follows: a) sub-phase 1: selection of concept for a duration of 12 months; b) sub-phase 2: evaluation of concept for a duration of 6 months; c) sub-phase 3: FEED: if the Parties wish to proceed to this sub-phase, the duration will be 12 months, and the Contractor must notify this decision via a decision note to the Ministry 45 days before the end of sub-phase 2. It is recognised that the objective of the State and the Contractor is to reach a final investment decision (FID) for the BirAllah discovery by the end of the exploration period and, without prejudice to any other provision of this Contract (including, but not limited to, the Contractor's right to not proceed to a later sub-phase), the Parties will work in good faith to attempt to attain this objective insofar as this is commercially reasonable and under the control of the Parties. (a) Sub-phase 1 will begin on the Contract's Effective Date. At the end of every sub-phase, the Contractor will have the option to pass to the next sub-phase, provided that the conditions in paragraph (b) or (c), as the case may be, here below, are met. (b) The Contractor will have the right to begin sub-phase 2 if it has fulfilled for sub-phase 1 the work obligations stipulated in Article 4 here below. (c) The Contractor will have the right to begin sub-phase 3 by providing a decision note at least forty-five (45) days before the end of sub-phase 2. In the decision note cited in Article 3.1 (c), the Contractor must transmit the details of the strategy for passing to sub-phase 3, and other documents demonstrating the Contractor's engagement with the market for the placement of the contracts envisaged for sub-phase 3. The decision note will include a calendar updated with steps to reach a final investment decision (FID). If this decision note does not show a way to attain an FID by a date falling before the end of sub-phase 3, the Minister may terminate this Contract at the end of this sub-phase 2. (d) The Contractor may, upon notification and provided he meets the conditions in paragraph (b) and (c) hereinabove, as the case may be, commence a sub-phase (and, in consequence, end the sub-phase immediately preceding it) before the end of the time...
View Source
EXPLORATION AUTHORIZATION. 3.1 The Exploration Authorization inside the Exploration Perimeter defined in Appendix 1 is granted to the Contractor in accordance with the provisions of article 2.1 above for an initial phase of five (5) Contract Years. 3.2 The Contractor shall be entitled to two (2) renewals of the Exploration Authorization for a period of two (2) Contract Years for the first renewal and three (3) Contract Years for the second renewal, if it has fulfilled, as part of the preceding exploration phase, all the work obligations stipulated in article 4 below and has provided the bank guarantee for the renewal period in accordance with article 4.6 below. 3.3 If at the expiration of the phases of the exploration period defined in article 3.2 above, works are in fact being carried out, the Contractor shall be entitled, if it reasonably requests one, to an exceptional extension of that phase for a period not exceeding twelve (12) months. 3.4 If the Contractor discovers one or more Hydrocarbon reservoirs for which it cannot present a declaration of commerciality before the end of the third phase of the period of exploration in accordance with article 9.5 below, due to the distance of the reservoir from the possible points of delivery on the Mauritanian territory and the lack of pipeline transport infrastructures, or the lack of market for the production of Natural Gas, it can request an extension of the Exploration Authorization for a maximum duration of three (3) years for petroleum reservoirs and five (5) years for Natural Gas reservoirs, the Exploration Perimeter thus being reduced to the supposed limits of the reservoirs in question. 3.5 In the event an extension is granted, the Contractor shall submit to the Minister within sixty (60) days of the end of each Calendar Year of the extension period a report showing the commercial character, if any, of the reservoirs concerned, and, in the event of Natural Gas deposit, the results of the works and studies undertaken in accordance with article 15 below. 3.6 For each renewal or extension, the Contractor shall have to make a request to the Minister no later than two (2) months before the expiration of the ongoing exploration phase. The renewals shall be noted by Ministerial order whereas extensions shall be granted by a decree of the Council of Ministers: such acts shall take effect on the day following the expiration of the previous period. 3.7 The Contractor undertakes to return to the State at least twenty-five percent (25%) of ...
View Source

Related to EXPLORATION AUTHORIZATION

  • Corporation Authorization The execution, delivery and performance by Parent of this Agreement and the consummation by Parent of the transactions contemplated hereby are within the corporate powers of Parent and have been duly authorized by all necessary corporate action. This Agreement constitutes a valid and binding agreement of Parent.

  • Information Authorization Your enrollment in the applicable Service may not be fulfilled if we cannot verify your identity or other necessary information. Through your enrollment in or use of each Service, you agree that we reserve the right to request a review of your credit rating at our own expense through an authorized bureau. In addition, and in accordance with our Privacy Policy, you agree that we reserve the right to obtain personal information about you, including without limitation, financial information and transaction history regarding your Eligible Transaction Account. You further understand and agree that we reserve the right to use personal information about you for our and our Service Providers’ everyday business purposes, such as to maintain your ability to access the Service, to authenticate you when you log in, to send you information about the Service, to perform fraud screening, to verify your identity, to determine your transaction limits, to perform collections, to comply with laws, regulations, court orders and lawful instructions from government agencies, to protect the personal safety of subscribers or the public, to defend claims, to resolve disputes, to troubleshoot problems, to enforce this Agreement, to protect our rights and property, and to customize, measure, and improve the Service and the content and layout of the Site. Additionally, we and our Service Providers may use your information for risk management purposes and may use, store and disclose your information acquired in connection with this Agreement as permitted by law, including (without limitation) any use to effect, administer or enforce a transaction or to protect against or prevent actual or potential fraud, unauthorized transactions, claims or other liability. We and our Service Providers shall have the right to retain such data even after termination or expiration of this Agreement for risk management, regulatory compliance, or audit reasons, and as permitted by applicable law for everyday business purposes. In addition, we and our Service Providers may use, store and disclose such information acquired in connection with the Service in statistical form for pattern recognition, modeling, enhancement and improvement, system analysis and to analyze the performance of the Service. The following provisions in this Section apply to certain Services:

  • Organization; Authorization The Holder is duly organized, validly existing and in good standing under the laws of its state of formation and has the requisite organizational power and authority to enter into and perform its obligations under this Agreement.

  • Organization; Authority Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

  • Execution Authorized The execution, delivery and performance of this Agreement by Securities Intermediary have been duly authorized by all necessary corporate action on the part of Securities Intermediary.