Plan of Operations - Modification Clause Samples

The Plan of Operations - Modification clause establishes the process by which changes can be made to an existing plan of operations under a contract. Typically, this clause outlines the circumstances under which modifications are permitted, the procedures for requesting and approving changes, and any documentation or notice requirements. For example, if unforeseen site conditions arise or project requirements change, the parties may use this clause to formally adjust the operational plan. Its core practical function is to provide a structured and agreed-upon method for adapting the plan to evolving needs, thereby reducing disputes and ensuring project continuity.
Plan of Operations - Modification. In the event that material changes are required to the plan of operations during the course of mining, Lessee shall submit a modification of the plan of operations to the Lessor. Routine adjustments to the plan of operations based upon geologic circumstances encountered during day-to-day mining operations do not require the submission of a modification. If the proposed changes require emergency action by Lessor, then the Lessee shall so notify the Lessor at the time of submission of the modification and the parties shall use their best efforts to meet the Lessee’s time schedule regarding implementation of the changes. Non-emergency modifications will be reviewed promptly by Lessor to insure that there is no waste of economically recoverable mineral reserves pursuant to the plan of operations, as modified, and Lessor shall notify lessee in writing of its approval or modification of the proposed modification. Modifications shall be deemed approved by Lessor if Lessor has not otherwise notified Lessee within thirty (30) days of filing.
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Plan of Operations - Modification. After written approval by Lessor, Lessee may materially modify the Plan of Operations by submitting to Lessor an amended Plan of Operations as is needed to reasonably protect surface estate resources, or to ensure that there is no waste of economically recoverable Reserved Minerals. In this context “waste” shall mean the inefficient utilization of, or the excessive or improper loss of an otherwise economically recoverable mineral, which Lessor reserves ownership of and the right to produce separate from the Lease. Routine adjustments to the Plan of Operations based upon geologic circumstances encountered during day-to-day mining operations that do not result in increased surface disturbance do not require the submission of a plan modification. If a proposed change requires emergency action by ▇▇▇▇▇▇, then Lessee shall so notify Lessor at the time of submission of the plan modification and the Parties shall use their best efforts to meet ▇▇▇▇▇▇’s time schedule regarding implementation of the change. Non-emergency modification will be reviewed promptly by Lessor.
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Plan of Operations - Modification. After written approval by Lessor, Lessee may materially modify the Plan of Operations by submitting to Lessor an amended Plan of Operations as is needed to reasonably protect surface estate resources, or to ensure that there is no waste of economically recoverable Reserved Minerals. In this context “waste” shall mean the inefficient utilization of, or the excessive or improper loss of an otherwise economically recoverable mineral, which Lessor reserves ownership of and the right to produce separate from the Lease. Routine adjustments to the Plan of Operations based upon geologic circumstances encountered during
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Plan of Operations - Modification. In the event that material changes are required to the plan of operations during the course of mining, Lessee shall submit a modification of the plan of operations to the Lessor. Routine adjustments to the plan of operations based upon geologic circumstances encountered during day-to-day mining operations do not require the submission of a modification. If the proposed changes require emergency action by Lessor, then the Lessee shall so notify the Lessor at the time of submission of the modification and the parties shall use their best efforts to meet the Lessee’s time schedule regarding implementation of the changes. Non-emergency modifications will be reviewed promptly by Lessor to insure that there is no waste of economically recoverable coal reserves pursuant to the plan of operations, as modified, and Lessor shall notify lessee in writing of its approval or modification of the proposed modification.
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Related to Plan of Operations - Modification

  • Statement of Operations Statement of Changes in Net Assets.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • CONTINUITY OF OPERATIONS Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.