NNG Group definition
NNG Group means NNG, NGAS Resources, Inc., ▇▇▇▇▇▇▇▇▇ Petroleum, Inc., and any subsidiary or Affiliate of NNG, NGAS Resources, Inc. or ▇▇▇▇▇▇▇▇▇ Petroleum, Inc., respectively.
NNG Group an NNG Group specified in Schedule 4 "NICC" Network Interoperability Co-ordinating Committee
NNG Group means NNG, NGAS Resources, Inc., ▇▇▇▇▇▇▇▇▇ Petroleum, Inc., and any subsidiary or Affiliate of NNG, NGAS Resources, Inc. or ▇▇▇▇▇▇▇▇▇ Petroleum, Inc., respectively. “NNG Option Interests” means and includes an undivided 100% of all of the limited liability company interests, membership interests or any other equity interests of NNG. “NNG SOS Segments” is defined in Section 2.2(b). “Non-Defaulting Owner” is defined in Section 6.4. “Non-Participating Owner(s)” shall have the meaning assigned to such term in Section 2.2(c). “Operating Budget” means a budget covering all expenditures chargeable to operating expense which Manager deems advisable to make during a Calendar Year, together with any other costs, expenses, liabilities relating to the ownership, use, operation, maintenance, repair, replacement, abandonment or other disposition of the Gathering System, other than for Capital Projects. “Owner Representative” shall have the meaning assigned to such term in Section 2.3(a). “Ownership Interest” shall mean the undivided ownership interest, usually expressed as a percentage, in and to the assets comprising the Gathering System or any Solely Owned Segment (but such term shall not apply to the membership interests or other equity interests held in and to NNG or Seminole, respectively). As of the date of this Agreement, the Ownership Interests of NNG and Seminole in and to the Gathering System is 50% each. With regard to any Solely Owned Segment, the Ownership Interests of the SOS Owner(s) thereof shall correspond to the proportionate share that such SOS Owner(s) thereof actually funded with respect to the acquisition, construction or installation and the commencement of commercial operations of such Solely Owned Segment, and the Ownership Interests therein of the Non-Participating Owners is limited to the back-in rights described in Section 2.2(c) below. “Ownership Ratio” shall refer to the relative ratio that the Owners’ Ownership Interest bear to each other. For example, as of the date of this Agreement, with regard to the Gathering System, the initial Ownership Ratio shall be 50:50 (corresponding to NNG’s fifty percent (50%) undivided ownership interest in the Gathering System and Seminole’s fifty percent (50%) undivided ownership interest in the Gathering System). Except as otherwise set forth in this Agreement, all revenues, income, costs, expenses and liabilities shall be allocated, paid and borne in accordance with the Ownership Ratio.