Minimum Depth definition

Minimum Depth. With respect to any price quote used to determine the Assigned Value of a Broadly Syndicated Loan hereunder, a depth of two.
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Minimum Depth means for (a) a wildcat, or step out well a depth sufficient to test the Formation; or (b) a development well a depth sufficient to test the known producing formations. A wildcat or step out well shall mean a well completed at a distance of not less than two (2) miles from existing or previous production.
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Minimum Depth is hereby added in Section 1.1 in proper alphabetic order:
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Examples of Minimum Depth in a sentence

  • This lease shall terminate prior to the expiration of the Term if Lessee does not commence or cause to be commenced within ninety (90) days of the Effect Date the Actual Drilling of a well on the Leased Premises and diligently drill such well to the Minimum Depth.

  • A dry hole shall mean a well drilled to the Minimum Depth which does not produce Oil & Gas in Paying Quantities.

  • The Review Board may grant to any owner of land in the ▇▇▇▇▇▇ Industrial Park variances from any of the provisions contained in this Development Plan where such variances, in the sole discretion of the Review Board, are not detrimental to the ▇▇▇▇▇▇ Industrial Park; provided, however, that no variation of Minimum Frontage, Minimum Depth, Minimum Acreage or Minimum Set Back restrictions shall be permitted except by the unanimous consent of the Review Board.

Related to Minimum Depth

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Maximum design heat input means the ability of a unit to combust a stated maximum amount of fuel per hour on a steady state basis, as determined by the physical design and physical characteristics of the unit.

  • Minimum Denomination has the meaning set forth in Article IV of the Debt Agreement.

  • Minimum Term means the minimum initial period of service for each Service as shown on the Service Agreement and Order Schedule, such period to start on the date on which the relevant Service is first made available to you for use. For the avoidance of doubt, unless otherwise agreed the minimum term will be 12 months from your contract commencement date or other such date as may be notified to you in accordance with paragraph 19.2.

  • Minimum data set means the data required by the Australian Government from Community Care service outlets, in the form prescribed by the Australian Government, which data is shared with the Queensland Government;