Sole Risk Project Sample Clauses

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Sole Risk Project. If: (a) the proposed Expansion Project or New Project has not been approved by the Non-Proposing Party within 180 days of written notice of the proposal being given under clause 2.1; and (b) the proposed Expansion Project or New Project does not materially interfere with any Relevant Existing Project, the Proposing Party (“Proposing Party”) may, by giving written notice to the other party (“Non-Proposing Party”), elect to conduct the proposed Expansion Project or New Project (as applicable) as a sole risk project, in which case the Proposing Party: (c) in the case of a New Project, where it is feasible, shall conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (d) in the case of an Expansion Project relating to an Enterprise Refinery, shall enter into an agreement with the relevant Enterprise Company to conduct the project under the direction of the Proposing Party (a “Sole Risk Project Management Agreement”); or (e) in all other cases, may elect to: (i) conduct the project itself or through a nominated subsidiary (including, in either case without limitation, by the appointment of a manager); or (ii) enter into a Sole Risk Project Management Agreement with the relevant Enterprise Company. (each a “Sole Risk Project”). (f) Subject to paragraph (g), the construction and operation of all Sole Risk Projects must comply with all applicable law and the standards adopted by the relevant Enterprise Company in place immediately prior to commencement of construction or operation of the Sole Risk Project. Where there are changes to those standards after commencement of the operations of such Sole Risk Project, these standards will be adopted for conduct of the Sole Risk Project to that same extent. (g) Where a Sole Risk Project is not the subject of a Sole Risk Project Management Agreement, and is functionally and operationally separate from the Enterprise Facilities, the Proposing Party may seek the approval of the relevant Enterprise Company to apply a standard (other than the standard adopted by the relevant Enterprise Company) that is a reasonably acceptable industry standard, such approval not to be unreasonably withheld.
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Sole Risk Project. If Crude Oil is discovered but is not deemed by the CONTRACTOR to be a Commercial Discovery of Oil under the above provisions of Article 3.4, the DEPARTMENT shall, after [REDACTED - NOTICE PERIOD CONSTITUTES SENSITIVE BUSINESS INFORMATION] from the expiration of the period specified above within which the CONTRACTOR can give notice of a Commercial Discovery of Oil, have the right upon [REDACTED - NOTICE PERIOD CONSTITUTES SENSITIVE BUSINESS INFORMATION] prior
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Related to Sole Risk Project

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • BUILDER’S RISK FOR NEW CONSTRUCTION PROJECTS If the project is NEW CONSTRUCTION, then the following provisions apply: (1) The State will require Contractor to purchase and maintain Builder's Risk Insurance. The Contractor shall name the Contractor and the State of Vermont as their interest may occur. Other parties shall be insured as the State may reasonably require. (2) Contractor shall effect and maintain insurance on portions of the work stored off-site, on site and in transit. Boiler & Machinery Insurance may be used in conjunction with this coverage if it is required to meet the testing requirement. (3) Any deductible applicable to loss covered by insurance provided hereunder shall be borne by the Contractor. (4) Except as provided for in (1) above the State and Contractor waive all rights against each other and the Subcontractor, Sub-subcontractors, agents and employees of the other.

  • BUILDER’S RISK FOR CONSTRUCTION RENOVATION PROJECTS If the project is CONSTRUCTION RENOVATION of an existing structure, and the State has already determined that Contractor will not be obligated to obtain and maintain Builder’s Risk insurance, then the following provisions apply: (1) The State will maintain property insurance upon the construction site and will not require Contractor to purchase and maintain Builder's Risk Insurance upon the entire work at the site. (2) The decision of the State to waive the requirement that the Contractor maintain builder’s risk coverage does not waive Contractor’s liability for damage to the State’s real and personal property. Contractor’s liability for loss to the State’s real and personal property will be limited to the first $100,000 of each and every property loss at the work site provided such loss is covered under the State’s property insurance coverage. If the Contractor elects to meet this obligation by purchase of commercial insurance, this insurance shall name the Contractor and the State of Vermont as Named Insureds and shall include the interests of the Contractor and Subcontractors. Other parties shall be insured as the State may reasonably require. (3) Contractor shall effect and maintain insurance on portions of the work stored off-site, on site and in transit. Boiler & Machinery Insurance may be used in conjunction with this coverage if it is required to meet the testing requirement. The cost of any deductible applicable to loss covered by insurance provided hereunder shall be borne by the Contractor. (4) Except as provided for in 11.2.2 (1)-(3) above the State and Contractor waive all rights against each other and the Subcontractor, Sub-subcontractors, agents and employees of the other.

  • Contractor’s Equipment The Contractor shall be responsible for all Contractor’s Equipment. The Contractor’s Equipment shall be deemed to be exclusively intended for the execution of the Works.