Selection of Successor Operator. Upon the resignation or removal of PDC, a successor Operator shall be selected by the parties. The successor Operator shall be selected by the affirmative vote of parties owning a majority working interest in each Prospect; provided, however, if an Operator which has been removed fails to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of parties owning a majority interest after excluding the voting interest of the Operator that was removed.
Selection of Successor Operator. Upon the resignation or removal of Operator under any provision of this agreement, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of two (2) or more parties owning a majority interest based on ownership as shown on Exhibit "A"; provided, however, if an Operator which has been removed or is deemed to have resigned fails to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of the party or parties owning a majority interest based on ownership as shown on Exhibit "A" remaining after excluding the voting interest of the Operator that was removed or resigned. The former Operator shall promptly deliver to the successor Operator all records and data relating to the operations conducted by the former Operator to the extent such records and data are not already in the possession of the successor operator. Any cost of obtaining or copying the former Operator's records and data shall be charged to the joint account.
Selection of Successor Operator. Except as otherwise provided herein, upon the resignation or removal of Operator under any provision of this Agreement, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of one or more parties owning a majority interest based on ownership as shown on Exhibit “A”. The former Operator shall promptly deliver to the successor Operator all records and data relating to the operations conducted by the former Operator to the extent such records and data are not already in the possession of the successor Operator. Any cost of obtaining or copying the former Operator’s records and data shall be charged to the joint account.
Selection of Successor Operator. 10 4.6 Effective Date of Resignation or Removal .........................................................10 4.7
Selection of Successor Operator. Upon the resignations or removal of Operator, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of two (2) of more parties owning a majority interest based on ownership as shown on Exhibit “A”; provided, however, if an Operator which has been removed falls to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of two (2) ore more parties owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of the Operator that was removed.
Selection of Successor Operator. Upon the resignation or removal of the Operator, a successor Operator shall be approved by Vote, subject to this limitation on the Voting right of Operator: if the resigned or removed Operator is not entitled to Vote, fails to Vote, or Votes only to succeed itself, then the successor Operator shall be approved by Vote after
Selection of Successor Operator. Within _________ (__) days of the selection of the successor Operator, the successor Operator shall commence the fabrication or acquisition of a Development System in the approved Development Plan. The fabrication or acquisition of a Development System commences on the date the first major fabrication contract for the Development System is awarded or the date the purchase contract for a Development System is executed. Post-Production Project Team AFEs The Execution Stage concludes upon the first production of Hydrocarbons from the Development System. At least ___________ (__) days, but not more than ___________ (__) days, prior to the first production of Hydrocarbons from the Development System, the Operator may propose for approval by [Select one of the following.] ☐ Vote ☐ Election ☐ unanimous agreement
Selection of Successor Operator. Upon the resignation or removal of Operator under any provision of this Agreement, a successor operator shall be selected by the Parties. The successor operator shall be selected from the Parties owning an interest in the Oil & Gas Leases at the time such successor operator is selected. Prior to such time that a total sum of $2,000,000.00 is expended in connection with operations hereunder, the successor operator shall be selected by the affirmative vote of two (2) or more Parties whose combined interests constitute a majority in interest based on ownership as shown in Exhibit A; provided, however, that if there is only one (1) Party other than Operator, the affirmative vote of such Party shall be sufficient to select a new operator; and further provided, that if Operator, after it has been removed or is deemed to have resigned, fails to vote or votes only to succeed itself, the successor operator shall be selected by the affirmative vote of the Party or Parties owning a majority in interest based on ownership as shown in Exhibit A that remains after excluding the voting interest of Operator that was removed or resigned. On and after such time that a total sum of $2,000,000.00 is expended in connection with operations hereunder, the successor operator shall be selected by the affirmative vote of Parties owning a majority in interest based on ownership as shown in Exhibit A; provided, however, that if Operator, after it has been removed or is deemed to have resigned, fails to vote or votes only to succeed itself, the successor operator shall be selected by the affirmative vote of the Party or Parties owning a majority in interest based on ownership as shown in Exhibit A that remains after excluding the voting interest of Operator that was removed or resigned. Operator shall promptly deliver to the successor operator all records and data relating to the operations conducted by Operator to the extent such records and data are not already in the possession of the successor operator. Any cost of obtaining or copying Operator’s records and data shall be charged to the joint account.
Selection of Successor Operator. Within _________ (__) days of the selection of the successor Operator, the successor Operator shall commence the fabrication or acquisition of a Development System in the approved Development Plan. The fabrication or acquisition of a Development System commences on the date the first major fabrication contract for the Development System is awarded or the date the purchase contract for a Development System is executed.
Selection of Successor Operator. Upon the resignation or removal of Operator under this Agreement or any termination of this Agreement prior to the expiration of the Term, any Owner may assume operations of the Facilities or appoint a replacement operator (the “Replacement Designee”).
