Upon termination of the Agreement. the Management Committee may approve the division of any Material held by the Operator at that date, which Material may be taken by the Participants in kind or be taken by a Participant in lieu of a portion of its Proportionate Share of the net revenues received from the disposal of the Assets and Property. If the division to a Participant be in lieu, it shall be for such price and on such terms and conditions as the Management Committee may approve.
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Samples: Joint Venture Agreement (Delbrook Corp), Certain Agreement (Amador Gold Corp), Joint Venture Agreement (Baymont Corp)
Upon termination of the Agreement. the Management Committee may approve the division of any Material held by the Operator at that date, which Material date may be taken by the Participants parties in kind or be taken by a Participant party in lieu of a portion of its Proportionate Share of the net revenues received from the disposal of the Assets and Property. If the such a division to a Participant party be in lieulieu of a portion of its proportionate share, it shall be for such price and on such terms and conditions as the Management Committee may approve.
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