Common use of A Non Clause in Contracts

A Non. Consenting Party shall become a Consenting Party with regard to an Exclusive Risk Operation at such time as the Non-Consenting Party gives notice pursuant to Article 10.4.3; provided that such Non-Consenting Party shall in no way be deemed to be entitled to any lump sum amount Cash Premium paid incident to such Exclusive Risk Operation. The Percentage Interest of such Non-Consenting Party in such Exclusive Risk Operation shall be its Percentage Interest set out in Article 3.1 (subject to election of a reduced interest under Article 5.10.1(iii)). The Consenting Parties shall contribute to the Percentage Interest of the Non-Consenting Party in proportion to the excess Percentage Interest that each received under Article 10.2.5(iii). If all Parties participate in the proposed operation, then such operation shall be conducted as a Joint Operation pursuant to Article 9.

Appears in 3 contracts

Samples: Joint Operating Agreement (Avenue Group Inc), Joint Operating Agreement (Avenue Group Inc), Joint Operating Agreement (Avenue Group Inc)

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