Consenting Party definition

Consenting Party means a Party who agrees to participate in and pay its share of the cost of an Exclusive Operation.

Examples of Consenting Party in a sentence

Any interest of Non-Consenting Parties that is not carried by a Consenting Party shall be deemed to be carried by the party proposing the operation if such party does not withdraw its proposal.

Upon request of any Consenting Party, Operator shall furnish estimates of current and cumulative costs incurred for the joint account at reasonable intervals during the conduct of any operation pursuant to this agreement.

The terms "Drilling Party" and "Consenting Party" shall mean a party who agrees to join in and pay its share of the cost of any operation conducted under the provisions of this agreement.

SHARING OF NON-CONSENT INTERESTS The designated Operator shall offer each Consenting Party in the initial well who executes the JOA, or who elects to participate under this Order, prior to the expiration of the Election Period an opportunity to acquire its proportionate share of all non-consent interests in the initial well pursuant to the terms of Article VI.B.2. of the JOA.

In the event any Consenting Party desires to drill or Deepen a Non-Consent Well to a depth below the Initial Objective, such party shall give notice thereof, complying with the requirements of Article VI.B.1., to all parties (including Non- Consenting Parties).


More Definitions of Consenting Party

Consenting Party means any landlord, head landlord, superior landlord and/or other third party from which a Property Transfer Consent is required;
Consenting Party means any Person whose consent or waiver is or ---------------- may be required under any of the Transaction Documents or in connection with any of the transactions contemplated thereby, in any such case, in order to assign or otherwise transfer or convey Seller's rights and obligations under a Contract or other agreement, to Buyer.
Consenting Party means either Baiyin or Gramercy, as applicable and “Consenting Parties” means both;
Consenting Party means: (a) the natural parent, adopted parent, or legal guardian of each student or former student who is under the age of 18 years; and, (b) each student or former student who has attained the age of 18 years. Where a student’s parents are divorced or legally separated, only the parent having legal custody shall be deemed to be the Consenting Party for purposes of this Agreement.
Consenting Party means New Hampshire Housing Finance Authority (NHHFA).
Consenting Party means a Party that agrees to participate in and pay its share of the cost of an Exclusive Operation.Consequential Loss means any losses, damages, costs, or liabilities caused (directly or indirectly) by any of the following arising out of, relating to, or connected with this Agreement or the operations and/or activities carried out under this Agreement: (i) reservoir or formation damage; (ii) inability to produce, use or dispose of Hydrocarbons; (iii) loss or deferment of income; (iv) punitive damages; or (v) indirect damages or losses whether or not similar to the foregoing.Contract Area means as of the Effective Date the South block of the Licence labelled as Block A on the map attached as Exhibit B and the Lycium block labelled as Block B on the map attached as Exhibit B. The perimeter or perimeters of the Contract Area shall correspond to the South and Lycium blocks shown in Exhibit B as covered by the Licence, as such area may vary from time to time during the term of validity of the Licence.Control means the ownership directly or indirectly of fifty (50) percent or more of the voting rights in a legal entity.Corporations Act means the Corporations Act 2001 (Cth).Crude Oil means all crude oils, condensates, natural gas liquids and other Hydrocarbons in a liquid state at standard pressure that are covered by the Licence.Day means a Gregorian Calendar day unless otherwise specifically provided.Deepening means an operation to drill a well to an objective Zone below the deepest Zone in which such well was previously drilled, or below the deepest Zone proposed in the associated AFE (if required), whichever is the deeper.Default Amount means the amount of the Defaulting Party’s share of Joint Account charges that the Defaulting Party has failed to pay when due under this Agreement or the Farmout Agreement.Default Interest Rate means interest compounded on a monthly basis, at LIBOR plus three (3) percentage points, applicable on the first Business Day before the due date of payment and afterwards on the first Business Day of each succeeding Calendar Month. If the resulting rate is contrary to applicable usury law, then the rate of interest to be charged shall be the maximum rate permitted by such applicable law.Default Notice means the notice of default given to a Defaulting Party.
Consenting Party means any Person whose consent or waiver is ---------------- required in order to assign or otherwise transfer or convey any rights and obligations of the Macke Entities under a Contract to Buyer in accordance with the terms hereof.