Common use of Selection of Successor Operator Clause in Contracts

Selection of Successor Operator. Except as otherwise provided herein, upon the resignation or removal of Operator under any provision of this Agreement, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of one or more parties owning a majority interest based on ownership as shown on Exhibit “A”. The former Operator shall promptly deliver to the successor Operator all records and data relating to the operations conducted by the former Operator to the extent such records and data are not already in the possession of the successor Operator. Any cost of obtaining or copying the former Operator’s records and data shall be charged to the joint account.

Appears in 4 contracts

Samples: Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC)

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Selection of Successor Operator. Except as otherwise provided herein, upon the resignation or removal of Operator under any provision of this Agreement, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of one or more parties owning a majority interest based on ownership as shown on Exhibit “A”Owner. The former Operator shall promptly deliver to the successor Operator all records and data relating to the operations conducted by the former Operator to the extent such records and data are not already in the possession of the successor Operator. Any cost of obtaining or copying the former Operator’s 's records and data shall be charged to the joint accountOwner.

Appears in 1 contract

Samples: Operating and Services Agreement (Puissant Industries, Inc.)

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Selection of Successor Operator. Except as otherwise provided herein, upon Upon the resignation or removal of Operator under any provision of this Agreementagreement, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of one two (2) or more parties owning a majority interest based on ownership as shown on Exhibit “A”. The former Operator shall promptly deliver to the successor Operator all records and data relating to the operations conducted by the former Operator to the extent such records and data are not already in the possession of the successor Operatoroperator. Any cost of obtaining or copying the former Operator’s 's records and data shall be charged to the joint account.

Appears in 1 contract

Samples: Operating Agreement (American Standard Energy Corp.)

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