Notice of Initial Phase Clause Samples

Notice of Initial Phase. Regardless of whether or not Pre-Project Work has been conducted, either Party to this Agreement shall, prior to commencing operations for the development of an Initial Phase, deliver to all Parties that are entitled to participate, notice of its intent to commence operations for the development of such Initial Phase. Such notice shall include sufficient detail to allow each Party to make an informed decision as to whether or not it desires to participate in the development of such Initial Phase, including, without limitation: (a) an itemized budget of all planned expenditures in respect of such Initial Phase; (b) a forecast of the costs to drill, Complete and develop all ▇▇▇▇▇ forming part of such Initial Phase, including an analysis of the costs of any necessary wellsite facilities to be used, if then known; (c) the surface location, proposed bottom hole location, proposed depth and any other information relevant to the evaluation of all ▇▇▇▇▇ to form part of such Initial Phase; (d) the surface location and any other information relevant to the evaluation of the Facility to form part of such Initial Phase; (e) a forecast of the costs to acquire, build and develop the Facility to form part of such Initial Phase; (f) a designation of the Project Area to be serviced, in whole or in part, by the Facility forming part of such Initial Phase; (g) a notice from the Operator in respect of an Equalization Opportunity, if appropriate; and (h) if Operator is the proposing Party, such notice shall also include any other information in Operator's possession relevant to an evaluation of the Initial Phase or which Non-Operator may reasonably request. A notice delivered by a Party in accordance with this Article VI.B(1) shall be validly issued so long as all information contained therein is accurate and correct to the knowledge, information and belief of such Party, and shall not be rendered invalid by the fact that the operations conducted in respect of the development of the Initial Phase or the expenditures in respect of such Initial Phase may differ from those set forth in the notice delivered by such Party, so long as all such operations are conducted by such Party, and all such expenditures made by such Party, are made on a bona fide basis and in accordance with good oilfield practice.
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Related to Notice of Initial Phase

  • Notice of Completion The Interconnection Customer shall notify the Transmission Provider and the Interconnected Transmission Owner in writing when it has completed construction of (i) the Customer Facility;

  • Notice to Lenders The Administrative Agent shall promptly give each Lender, as applicable, written notice (or telephonic notice promptly confirmed in writing) of each proposed Borrowing, or Conversion or Continuation thereof, and LC Issuance, and of such Lender’s proportionate share thereof or participation therein and of the other matters covered by the Notice of Borrowing, Notice of Continuation or Conversion, or LC Request, as the case may be, relating thereto.

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • Notice of Impositions Lessor shall give prompt Notice to Lessee of all Impositions payable by Lessee hereunder of which Lessor at any time has knowledge, provided that Lessor’s failure to give any such Notice shall in no way diminish Lessee’s obligations hereunder to pay such Impositions, but such failure shall obviate any default hereunder for a reasonable time after Lessee receives Notice of any Imposition which it is obligated to pay during the first taxing period applicable thereto.

  • NOTICE OF DELAYS Except as otherwise provided under this Contract, when either party has knowledge that any actual or potential situation is delaying or threatens to delay the timely performance of this Contract, that party shall, within one (1) business day, give notice thereof, including all relevant information with respect thereto, to the other party.