Owner Proposal definition

Owner Proposal shall have the meaning set forth in Section 2(d)(i).

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Examples of Owner Proposal in a sentence

• If Owner does not, simultaneously with the Notice of Impermissibility, make an Owner Proposal, or makes an Owner Proposal that is not a Qualifying Proposal, then Section 2(d)(ii) below shall apply.

• If the Owner Proposal is a Qualifying Proposal, the Parties shall proceed with the transaction reflected in the Owner Proposal on the terms otherwise set forth herein.

• Any dispute as to whether the exercise of the Call Right would be an Impermissible Transaction, or whether an Owner Proposal is a Qualifying Proposal, shall be resolved pursuant to arbitration in accordance with the procedures set forth in Section 3 hereof.

• If Owner makes an Owner Proposal, Propco shall make a commercially reasonable determination of whether the Owner Proposal constitutes a Qualifying Proposal.

• APH shall notify Owner within twenty (20) days of its receipt of an Owner Proposal if it elects to participate in the Drilling of such well.

• If Owner makes an Owner Proposal, Propco shall make a commercially reasonable determination of whether 11 Note that additional back-up items will also be added to this section, depending on how the Purchase Price and Property Lease Rent are to be determined.