Operating Joint Venture definition

Operating Joint Venture shall have the meaning set forth above in the recitals hereto.
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Operating Joint Venture means a Person other than a Restricted Subsidiary of the Borrower (i) in which the Borrower and its wholly-owned Restricted Subsidiaries (other than any Excluded Subsidiary) own at least a ten (10%) of the Capital Stock, (ii) substantially all of the assets of such Person consist of Oil and Gas Properties, (iii) the Borrower or one of the Guarantor Subsidiaries is the operator of such Oil and Gas Properties or is the manager of such Person, (iv) such Person has no Indebtedness for borrowed money, (v) such Person is not bound by agreements, and does not have organizational document restrictions on, the ability of such Person to make dividends or other Distributions on its Capital Stock and the Capital Stock of such Person not owned by the Borrower and the Guarantor Subsidiaries has no preferential rights to dividends or other Distributions over the Capital Stock of such Person owned by the Borrower and the Guarantor Subsidiaries. Notwithstanding the foregoing, in no event shall (i) Aquasition LLC, a Delaware limited liability company, (ii) Aquasition Energy LLC, a Delaware limited liability company, (iii) Aquasition II LLC, a Delaware limited liability company or (iv) any other Person involved in the transactions associated with the Aquasition Transaction Documents that is not a Restricted Person constitute an “Operating Joint Venture” hereunder.
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Operating Joint Venture means the Joint Venture as defined in the joint operating agreement dated April 28, 2006, between Avante Colombia Ltd. Sucursal en Colombia and Vetra Exploración y Producción S.A. (formerly known as Petrotesting Colombia S.A.), for the purpose of operating the Production Contracts.
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Examples of Operating Joint Venture in a sentence

  • The Operating Joint Venture shall have agreed to employ at their current locations each person who is an employee of the Company immediately prior to the Effective Time (the "Affected Employees") on terms no less favorable in the aggregate (including with respect to position, duties, responsibilities, compensation, incentives and location) than those provided on the date hereof to the Affected Employees.

  • In the event that COI does not accept the offer to become a party to the Operating Joint Venture, Crescent shall promptly take all necessary action to provide another entity to serve in that capacity at the Effective Time (COI or the entity serving in such capacity being referred to herein as the "JV Parent").

  • Administrative Agent or any Issuer and their Affiliates may accept deposits from, lend money to, act as Trustee under indentures of, lend money to, own securities of, act as financial advisor to, and generally engage in any kind of business with the Borrower, any Restricted Subsidiary or Operating Joint Venture or their Affiliates, all as if it were not Administrative Agent or an Issuer hereunder and without any duty to account therefor to any other Lender.

  • The Operating Joint Venture shall have caused each Buyer Plan to waive (i) any preexisting condition restriction or (ii) waiting period limitation which would otherwise be applicable to an Affected Employee on or after the Effective Time.

  • The Operating Joint Venture shall have agreed to honor without modification or contest, and to make required payments when due under, all Company Plans (as defined herein, but without regard to materiality) in accordance with their terms as of the date of this Agreement (as modified to the extent permitted by this Agreement).

  • The Operating Joint Venture shall have assumed all obligations under and adopted the Company Plans (other than the Stock Plans referred to in Section 5.8), without regard to materiality.

  • The Operating Joint Venture shall have agreed to provide each Affected Employee with benefits that are at least equivalent in the aggregate to the benefits provided to each such Affected Employee immediately prior to the Effective Time.

  • Pursuant to the obligation of Crescent Real Estate Equities Limited Partnership ("Crescent OP") to offer the opportunity to participate in the Operating Joint Venture to COI under that certain Intercompany Agreement to which they are parties, promptly following the date of this Agreement, Crescent will cause Crescent OP to make such offer.

  • The obligations of the JV Parent to execute the JV Parent Guarantee and Crescent to execute the Crescent Guarantee as to any person shall be conditioned on such person accepting employment with the Operating Joint Venture.

  • Lender Parties may waive or amend such provisions as they desire without any notice to or consent of Borrower or any Restricted Subsidiary or Operating Joint Venture.


More Definitions of Operating Joint Venture

Operating Joint Venture means the joint venture between the Borrower and Alon USA, Interests, LLC or any of its affiliates or subsidiaries organized for the purpose of operating certain aspects of the Asset Joint Venture."
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Operating Joint Venture means the following Joint Ventures: Asia Container Terminals Limited, ATL Logistics Centre Hong Kong Limited, ATL Logistics Centre Yantian Limited, CSX Orient (Tianjin) Container Terminals Co., Ltd., ATL Logistics Centre Yantian (Shenzehen) Co. Limited, CSX World Terminals Y▇▇ ▇▇▇ Company Ltd., Z▇▇▇ ▇▇▇▇▇▇ Multimodal Caucedo, S.A., Caucedo Services, Inc., Pusan Newport Co., Limited and CSXWT B▇▇▇▇▇▇ Puerto C▇▇▇▇▇▇, C.A.
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Related to Operating Joint Venture

  • Company Joint Venture means any corporation or other entity (including partnership, limited liability company and other business association) that is not a Company Subsidiary and in which the Company or one or more Company Subsidiaries owns an equity interest (other than equity interests held for passive investment purposes which are less than 5% of any class of the outstanding voting securities or other equity of any such entity).

  • Eligible joint venture means an association of one or more small business enterprises in combination with one or more veteran-owned business enterprises, proposing to perform as a single for-profit business enterprise, in which each joint venture partner contributes property, capital, efforts, skill and knowledge. Joint ventures must have an agreement in writing specifying the terms and conditions of the relationship between the partners and their respective roles in the contract.

  • Permitted Joint Venture means, with respect to any specified Person, a joint venture in any other Person engaged in a Similar Business in respect of which the Borrower or a Restricted Subsidiary beneficially owns at least 35% of the shares of Equity Interests of such Person.

  • consortium or joint venture means an association of persons for the purpose of combining their expertise, property, capital, efforts, skill and knowledge in an activity for the execution of a contract;

  • Permitted Joint Ventures means one or more joint ventures formed (a) by the contribution of some or all of the assets of the Company’s or a Permitted Affiliate Parent’s business solutions division pursuant to a Business Division Transaction to a joint venture formed by the Company, a Permitted Affiliate Parent or any of the Restricted Subsidiaries with one or more joint venturers and/or (b) for the purposes of network and/or infrastructure sharing with one or more joint venturers.