Second Additional Exploration Period definition

Second Additional Exploration Period means the second period of two (2) contract years after the First Additional Exploration Period pursuant to sub-clause 2(4), as may be extended under this Contract;
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Second Additional Exploration Period shall have the meaning set forth in Article 4.4.
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Second Additional Exploration Period means a period of one Contract Year beginning upon termination of the First Additional Exploration Period which CNH may grant the Contractor to continue conducting Surface Reconnaissance and Exploration, Exploration and Appraisal activities in the Contract Area in accordance with Article 4.4.
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Examples of Second Additional Exploration Period in a sentence

  • Compliance with the minimum percentages of national content shall be verified by the Ministry of Economy upon termination of the Initial Exploration Period, the First Additional Exploration Period, the Second Additional Exploration Period and the Appraisal Period, as it corresponds, in terms of the Methodology and the Applicable Laws.

  • The CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the Minimum Program Increase, or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to the Industry Best Practices and the Applicable Laws.

  • In the event that during the First Additional Exploration Period, the Contractor carries out additional Work Units to those committed in accordance with Article 4.3, the Contractor may request the recognition of such Work Units for the Second Additional Exploration Period.

  • During the Initial Exploration Period, First Additional Exploration Period or Second Additional Exploration Period, as the case may be, the Contractor may submit to CNH for approval a Work Program and Budget for Appraisal activities related to the relevant Discovery, in which case the provisions of Article 5.2 shall apply.

  • The provisions of Section 7.1 shall not be deemed to diminish the Contractor’s obligations to perform the Minimum Work Program, the Work Programs for the First Additional Exploration Period or the Second Additional Exploration Period, as the case may be, or its obligations regarding Abandonment activities.

  • The CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to Industry Best Practices and the Applicable Laws.

  • CNH may deny approval of plans if they: (i) do not comply with the Minimum Work Program or the Minimum Program Increase, or the work commitments for the First Additional Exploration Period or Second Additional Exploration Period, or (ii) do not conform to Industry Best Practices and the Applicable Laws.

  • CNH shall be entitled to draw on the Second Additional Performance Guarantee to collect any unliquidated damages due to the failure to comply with any work commitment for the Second Additional Exploration Period.

  • The Second Additional Performance Guarantee shall remain in effect until sixty (60) Days following the end of the Second Additional Exploration Period after the corresponding verification of CNH of full compliance with the obligations set forth in this period.

  • The Contractor may request such extension only if it: (i) has fully complied with the Work Units required for the First Additional Exploration Period; and (ii) agrees to perform additional Work Units, equivalent to one (1) exploratory Well during the Second Additional Exploration Period in accordance with Article 7.1 and Annex 5.


More Definitions of Second Additional Exploration Period

Second Additional Exploration Period means the second period of two (2) contract years after the First Additional Exploration Period pursuant to sub­clause 2(4), as may be extended under this Contract;
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Related to Second Additional Exploration Period

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Acquisition Period means the period ending five (5) business days prior to