Subsequent Operator Sample Clauses

Subsequent Operator. After the execution of this Agreement and prior to the due and complete exercise of the Option if the Operator is not the Optionee the Operator shall, prior to being appointed to act as the Operator, enter into a
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Subsequent Operator. Should the Optionee's Interest under the Joint Operation fall below fifty percent (50%) at any time during the continuance of this Agreement, then the Optionee shall be deemed to have resigned and the Optionor shall be deemed to be appointed as the Operator of the Property under this Agreement. Like the Optionee, the Optionor, as the Operator, (and any subsequent Operator) may resign as the Operator at any time by giving ten calendar days' prior written notice to the Parties, and within such ten-day period the Management Committee (as hereinafter determined) may appoint another party who covenants to act as the Operator of the Property upon such terms as the Parties shall agree. If the Operator is not a Party under this Agreement, then such Operator shall, prior to being appointed to act as the Operator, enter into a written agreement to assume the obligations of the Operator hereunder and to be bound by the terms and conditions of this Agreement.
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Related to Subsequent Operator

  • Current Operating Areas Where logging or road construction is in progress but not completed, unless agreed otherwise, Purchaser shall, before opera- tions cease annually, remove all temporary log culverts and construct temporary cross drains, drainage ditches, dips, berms, culverts, or other facilities needed to control erosion.

  • Operator The Optionee shall be the operator for purposes of developing and executing exploration programs.

  • Project Site The “Project Site” is the place where the Work is being carried on.

  • Non-Consent Operations Seller has not elected not to participate in any operation or activity proposed with respect to any Asset which could result in any of Seller’s interest in such Asset becoming subject to a penalty or forfeiture as a result of such election.

  • Additional Requirements for Sleeping Rooms The Contractor shall provide departing Attendees a secured area for storing belongings.