Celebration of a Joint Operating Agreement Sample Clauses

Celebration of a Joint Operating Agreement. The Parties undertake to perform their best efforts to enter into a Joint Operating Agreement between the ASSIGNEE and CLEAR or the Affiliated Company designated by CLEAR before the Early Closing Date. The Joint Operating Agreement shall govern all matters related to the operation of the Area and relations between CLEAR or whom it designates and ASSIGNEE and which shall contemplate that, as from Closing Date, ASSIGNEE: (i) shall freely dispose of and freely trade 75% of the hydrocarbons produced in the Area, which will belong to the ASSIGNEE; (ii) shall be entitled to the free disposability of the funds deriving from the sale of such hydrocarbons; (iii) shall be the operator of the Area, shall appoint an Affiliated Company or propose a third party, acceptable for CLEAR or an Affiliated Company as the operator of the Area; (iv) shall be entitled to purchase and sell equipments, machinery and any other assets that the ASSIGNEE considers necessary or convenient for the development of the Cerro Negro Area. If performed before the execution of the JOA, it shall have the prior approval from CLEAR or an Affiliated Company; and (v) will be entitled to hire or retain the services of third parties contractors or suppliers in the same conditions than the hydrocarbons exploitation concessionaires. If performed before the execution of the JOA, it shall have the prior approval from CLEAR or an Affiliated Company
Sample 1
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Related to Celebration of a Joint Operating Agreement

  • Joint Operating Agreement LEEXUS OIL and PARTICIPANT (NON-OPERATOR) agree to add, amend, ratify the current Master Joint Operating Agreement (“Master JOA”) with XXXXX Joint Accounting Procedure, originally signed and dated September 9, 2008, and contemporaneously herewith, designating LEEXUS OIL L.L.C. as Operator of the XXXXX. PARTICIPANT (NON-OPERATOR) will be responsible and liable for paying their proportionate share of any and all monthly operating costs, rework costs or any and all other costs as may be incurred as a result of conducting operations in accordance with the Master JOA as of the effective date and thereafter. In the event of any conflict between the provisions of the Joint Operating and this Letter Agreement, both parties agree the terms of this Letter Agreement shall control.

  • Operating Agreement The Borrower will not amend, modify, waive or terminate any provision of its operating agreement without the prior written consent of the Administrative Agent.

  • Governing Agreement The Assigned Transaction and the Confirmation shall form a part of, and be subject to, the ISDA Master Agreement dated as of September 29, 2006, as amended or supplemented from time to time (the "New Master Agreement"), between Assignee and Remaining Party. The Confirmation shall form a part of, and be subject to, the New Master Agreement.

  • Collaboration Agreement The Collaboration Agreement shall not have been terminated in accordance with its terms and shall be in full force and effect.

  • Standard Tenant Services Landlord shall provide the following services on all days (unless otherwise stated below) during the Lease Term.

  • Development Agreement That certain Development Agreement dated of even date herewith by and between the Company and Developer providing for the development of the Project on the Property, a copy of which is attached hereto as Exhibit C and incorporated herein by reference. Development Fee. As described in Section 6.8.

  • Marketing Agreement The Company shall have entered into, ------------------- executed and delivered the Marketing Agreement.

  • Operation of Agreement This Agreement will be effective and binding immediately upon its execution, but, anything in this Agreement to the contrary notwithstanding, this Agreement will not be operative unless and until a Change in Control occurs. Upon the occurrence of a Change in Control at any time during the Term, without further action, this Agreement shall become immediately operative.

  • Second Amendment to Exhibit A to Services Agreement Exhibit A to the Services Agreement shall be, and here by is, supplemented with the following:

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

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