Common use of Operations Pursuant to Programs and Budgets Clause in Contracts

Operations Pursuant to Programs and Budgets. Upon Commencement of Joint Funding, Operations shall be conducted, expenses shall be incurred, and Assets shall be acquired only pursuant to a Program and Budget approved pursuant to Section 10.2. Every Program and Budget adopted pursuant to this agreement shall provide for accrual of reasonably anticipated Environmental Compliance expenses for all Operations contemplated under the Program and Budget. For avoidance of doubt, the initial Program and Budget shall include all Historical Costs related to the Merian Right of Exploration, Merian Right of Exploitation and all Additional Rights to the extent not included in the Total Value (as defined in the Mineral Agreement), including specifically all Historical Costs incurred after the date of issuance of the Merian Right of Exploitation but before Commencement of Joint Funding.