Resignation of Operator. Subject to Article 4.5 (Selection of Successor), the Operator may resign at any time by giving written notice to the Parties, except that the Operator may not resign during a Force Majeure or an emergency that poses a threat to life, safety, property, or the environment. If the Operator ceases to own a Working Interest, the Operator automatically shall be deemed to have resigned as the Operator without any action by the Non-operators.
Appears in 5 contracts
Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC), Exploration Participation Agreement (Ridgewood Energy U Fund LLC), Exploration Participation Agreement (Ridgewood Energy P Fund LLC)
Resignation of Operator. Subject to Article 4.5 (Selection of SuccessorSuccessor Operator), the Operator may resign at any time by giving written notice to the Parties, except that the Operator may not resign during a Force Majeure or an emergency that poses a threat to life, safety, property, or the environment. If the Operator ceases to own a Working Interest, the Operator automatically shall be deemed to have resigned as the Operator without any action by the Non-operatorsOperating Parties.
Appears in 2 contracts
Samples: Operating Agreement (Anadarko Petroleum Corp), Ratification and Joinder of Operating Agreement (Anadarko Petroleum Corp)
Resignation of Operator. Subject to Article 4.5 (Selection of Successor), the The Operator may resign resig3 at any time by giving written notice to the Parties, except that the Operator may not resign during a Force Majeure or an emergency that poses a threat to life, safety, property, or the environment. If the Operator ceases to own a Working Interest, the Operator automatically shall be deemed to have resigned as the Operator without any action by b the Non-operators.
Appears in 1 contract
Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC)
Resignation of Operator. Subject to Article 4.5 (Selection of Successor), the Operator may resign at any time by giving written notice to the Parties, except that the Operator may not resign during a Force Majeure or an emergency that poses a threat to life, safety, property, or the environment. If the the. Operator ceases to own a Working Interest, the Operator automatically shall be deemed to have resigned as the Operator without any action by the Non-operators.
Appears in 1 contract
Samples: Offshore Operating Agreement (Ridgewood Energy Q Fund LLC)
Resignation of Operator. Subject to Article 4.5 (Selection of Successor), the The Operator may resign at any time by giving written notice to the Parties; provided, except that however, the Operator may shall not resign during a Force Majeure or an emergency that poses a threat to life, safety, property, or the environmentsituation described in Article 25.1 (Force Majeure). If the Operator ceases to own a Working Interestno longer owns an interest in the Designated Prospect, the Operator automatically shall be deemed to have resigned as the Operator without any action by the Non-operatorsOperating Parties other than the selection of a successor Operator.
Appears in 1 contract
