Extension of the Exploitation Period Clause Samples

The "Extension of the Exploitation Period" clause allows for the agreed timeframe during which a party can commercially use or exploit certain rights—such as intellectual property, media, or resources—to be extended beyond its original end date. Typically, this clause outlines the conditions under which an extension may be requested, the process for approval, and any additional fees or obligations that may arise as a result. Its core practical function is to provide flexibility for the rights holder or licensee, ensuring that unforeseen circumstances or ongoing projects do not prematurely end the opportunity to benefit from the exploitation rights.
Extension of the Exploitation Period. ▇▇▇ shall extend the Period of Exploitation to the economic limit of the Commercial Field, at THE CONTRACTOR’S election, provided the following conditions are met: a) That THE CONTRACTOR requests the extension in writing to the ▇▇▇ on no more than four (4) years’ notice, but no less than one year’s regarding the date of termination of the Exploitation Period of the corresponding Area of Exploitation. b) That the Area of Exploitation be producing Hydrocarbons regularly on the date of the request. c) That THE CONTRACTOR shows that, during the four (4) Calendar Years prior to the date of the request, he has performed a drilling program that includes at least a well per calendar year, and / or that he has had one pressure maintenance or a secondary or tertiary or improved recovery project.
View SourceView Similar (4)
Extension of the Exploitation Period. The ▇▇▇ shall extend the Exploitation Period until the economic limit of the Commercial Field, at the CONTRACTOR’S election, provided the following conditions are met: a) That the contractor applies with the ▇▇▇ for the extension in writing, no more than four (4) years and no less that one (1) year before the date of expiration of the Exploitation period of the respective Exploitation Area. b) That on the date of application the Exploitation Area is regularly producing hydrocarbons. c) That the CONTRACTOR evidences that throughout the four (4) Calendar Years prior to the date of application it has performed an exploration program including at least one well per Calendar Year and / or that it has had one project for the maintenance of pressure or of secondary, tertiary or improved recovery in force. Paragraph: If the CONTRACTOR does not satisfy in a complete manner or in its entire scope the condition in subparagraph c) above, the ▇▇▇, having analyzed the justifications presented by the CONTRACTOR, can grant the extension. It is hereby understood that the ANH’S denial thereof shall not be construed as disagreement and it shall not be subject to the procedure set forth in Clause 27 hereof. In all cases, the extension of the Exploitation Period shall be formalized in an Addendum to the Contract.
View Source

Related to Extension of the Exploitation Period

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.

  • Extension of the Expiry Date; Non-Extension Advance No earlier than the 60th day and no later than the 40th day prior to the then effective Expiry Date (unless such Expiry Date is on or after the date that is 15 days after the Final Legal Distribution Date for the Class B Certificates), the Borrower shall request that the Liquidity Provider extend the Expiry Date to the earlier of (i) the date that is 15 days after the Final Legal Distribution Date for the Class B Certificates and (ii) the date that is the day immediately preceding the 364th day occurring after the last day of the Consent Period (as hereinafter defined). Whether or not the Borrower has made such request, the Liquidity Provider shall advise the Borrower no earlier than the 40th day (or, if earlier, the date of the Liquidity Provider’s receipt of such request, if any, from the Borrower) and no later than the 25th day prior to the then effective Expiry Date (such period, the “Consent Period”), whether, in its sole discretion, it agrees to so extend the Expiry Date. If the Liquidity Provider advises the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall not be so extended, or fails to irrevocably and unconditionally advise the Borrower on or before the date on which the Consent Period ends that such Expiry Date shall be so extended (and, in each case, if the Liquidity Provider shall not have been replaced in accordance with Section 3.05(e) of the Intercreditor Agreement), the Borrower shall be entitled on and after the date on which the Consent Period ends (but prior to the then effective Expiry Date) to request a Non-Extension Advance in accordance with Section 2.02(b)(i) and Section 3.05(d) of the Intercreditor Agreement.

  • AGREEMENT PERIOD The terms of this Agreement and the performance of the parties hereto shall commence, or be deemed to have commenced, the 1st day of January 2020 and will continue through the 31st day of December 2020, both dates inclusive, unless sooner terminated or extended as provided for herein.

  • Meal Period A Contractor shall schedule an unpaid period of not more than 1/2 hour duration at the work location between the 3rd and 5th hour of the scheduled shift. A Contractor may, for efficiency of operation, establish a schedule which coordinates the meal periods of two or more crafts. If an employee is required to work through the meal period, the employee shall be compensated in a manner established in the applicable Schedule A.