Approval of the Parties definition
Examples of Approval of the Parties in a sentence
When- ever the Unit Operator shall tender his or its resignation as Unit Operator or shall be re- moved as hereinabove provided, or a change of Unit Operator is negotiated by the work- ing interest owners, the owners of the work- ing interests according to their respective acreage interests in all unitized land shall, pursuant to the Approval of the Parties re- quirements of the unit operating agreement, select a successor Unit Operator.
Either Party may from time to time propose revisions to the Services set forth on Exhibit D, which such revisions shall be subject to the Approval of the Parties.
Either Party may from time to time propose revisions to the Services set forth on Exhibit C, which such revisions shall be subject to the Approval of the Parties.
Approval of the Parties shall be deemed to have been given unless either Party explicitly disapproves the operating agreement or modifications thereof within two months after such operating agreement or modifications thereof have been submitted to the Parties for approval.
If, as of the date of the proposed change in use of the Hotel Component, the MC Partners either shall have Taken Down the Hotel Component or shall still have a right to Take Down the Hotel Component under Section 10, any change in use of the Hotel Component to an alternative use in use shall require the Approval of the Parties (as determined in the exercise of their sole and absolute discretion).
The Drilling of a Development Well shall be subject to the Approval of the Parties, unless the Drilling of the proposed well is necessary to prevent the loss of a Committed Working Interest in the tract of land on which the proposed well is to be Drilled.
If the NJSEA shall approach MDLP to negotiate a transaction for MDLP to develop a hotel at the Meadowlands Race Track without the implementation of the terms and provisions of the Hotel ROFR Agreement or the NJSEA and MDLP shall otherwise engage in negotiations to develop such a hotel, the decision to have MDLP to proceed with such development shall require the Approval of the Parties (as determined in the exercise of their sole and absolute discretion).
If an Affiliate of a Party or a Party is to render services to the Company in connection with the initial development or redevelopment of a Project, then the Parties shall, by Approval of the Parties, approve a Development Agreement with such Affiliate or Party who shall be designated as the “Developer” thereunder.
All Major Decisions with respect to the Company’s business and operations shall require the Approval of the Parties.
If, as of the date of the proposed change in use of the Hotel Component, the MC Partners shall not have Taken Down the Hotel Component and the MC Partners shall no longer have a right to Take Down the Hotel Component under Section 10, any change in use of the Hotel Component to an alternative use in use shall not require the Approval of the Parties but, rather, may be agreed to by MDLP.