Participating Interest definition

Participating Interest is defined in Section 1.3(e) hereof.

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Participating Interest is defined in Section 1.2(d) hereof.

Participating Interest means, in respect of each Party constituting the Contractor, the undivided share expressed as a percentage of such Party’s participation in the rights and obligations under this Contract.

Examples of Participating Interest in a sentence

• If Sphere exercises the Back-In Right and thereby has a greater Participating Interest than Duncan Park, then Sphere, as Operator, shall be entitled to be registered or recorded as the 100% owner of the Property and shall hold the interests of Duncan Park, from time to time, in trust pursuant to the resulting Joint Venture Agreement.

• For greater certainty and without limitation, such agreement shall contain provisions with respect to pro rata contributions to Expenditures, dilution, reversion to a net smelter return royalty on dilution of a participating interest to below 10%, voting by way of extraordinary resolution, constitution of a management committee, appointment of the Operator as the Party with the largest Participating Interest and restrictions on transfer and applicable rights of first refusal.

• Continuation of Obligations Any Concessionaire Party ceasing to own a Participating Interest in this Agreement during the term of this Agreement shall nonetheless remain bound by the obligations of confidentiality set forth in this Article 24.

More Definitions of Participating Interest

Participating Interest means as to any Party, the undivided interest of such Party (expressed as a percentage of the total interests of all Parties) in the rights and obligations derived from the Parties’ interest in the Contract and this Agreement.

Participating Interest means the percentage interest representing the operating ownership interest of a Participant in Assets, and all other rights and obligations arising under this Agreement, as such interest may from time to time be adjusted hereunder. Participating Interests shall be calculated to three decimal places and rounded to two (e.g., 1.519% rounded to 1.52%). Decimals of .005 or more shall be rounded up to .01, decimals of less than .005 shall be rounded down. The initial Participating Interests of the Participants are set forth in Section 6.1.

Participating Interest means a Party’s percentage of participation, as it may exist at any given time, in the rights and obligations under the PSC, in respect of the RJ Block, which is currently at 35%, 35% and 30% for Vedanta, CEHL and ONGC respectively

Participating Interest with respect to any Letter of Credit (a) in the case of the Issuing Lender, its interest in such Letter of Credit and any Letter of Credit Application relating thereto after giving effect to the granting of any participating interests therein pursuant hereto and (b) in the case of each Participating Lender, its undivided participating interest in such Letter of Credit and any Letter of Credit Application relating thereto.

Participating Interest means rights in the capital of other under­ takings, whether or not represented by certificates, which, by creating a durable link with those undertakings, are intended to contribute to the activities of the undertaking which holds those rights. The holding of part of the capital of another undertaking is presumed to constitute a participating interest where it exceeds a percentage threshold fixed by the Member States which is lower than or equal to 20 %;

Participating Interest means, in respect of each Party constituting the Contractor, the undivided share expressed as a percentage of such Party’s participation in the rights and obligations under this Contract;

Participating Interest means, in respect of each Seller, the undivided share, expressed as a percentage, of such Sellers’ participation in the rights and obligations under the JOA and PSC, being, at the date of this Agreement, 66.67% for RIL and 33.33% for BPEAL, or, if such percentages are modified, as may be notified from time to time by Sellers.