Common use of Election of Successor Operator Clause in Contracts

Election of Successor Operator. As soon as practicable after notice is duly given as to the resignation or removal of Operator (hereinafter referred to as "Outgoing Operator") under Article 4.2, one of the Non-Operators shall, subject to its acceptance of the position under the terms of this Agreement and subject to any necessary approval of the Government, be selected by the Operating Committee to assume the position of Operator upon the effective date of the resignation or removal of the Outgoing Operator, provided that if the Outgoing Operator is removed or in Default at the time of its resignation and the Outgoing Operator or any Party which is an Affiliate of the Outgoing Operator either fails to vote or votes for itself or any of its Affiliates as successor to the operatorship, those votes shall be disregarded and the percentage figure set out in Article 8.4.5 shall apply to the total votes available to the remaining Parties.

Election of Successor Operator. As soon as practicable after notice is duly given as to the resignation or removal of Operator (hereinafter referred to as "Outgoing OperatorOUTGOING OPERATOR") under Article 4.2, one of the Non-Operators shall, subject to its acceptance of the position under the terms of this Agreement and subject to any necessary approval of the Government, be selected by the Operating Committee to assume the position of Operator upon the effective date of the resignation or removal of the Outgoing Operator, provided that if the Outgoing Operator is removed or in Default at the time of its resignation and the Outgoing Operator or any Party which is an Affiliate of the Outgoing Operator either fails to vote or votes for itself or any of its Affiliates as successor to the operatorship, those votes shall be disregarded and the percentage figure set out in Article 8.4.5 shall apply to the total votes available to the remaining Parties.