Participating Interest definition

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

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

• Notwithstanding the foregoing, a Participating Lender may subparticipate its L/C Participating Interest without obtaining the prior written consent of the Issuing Lender.

• If no proposal attains the support of a simple majority of the Participating Interests, then the proposal receiving the largest aggregate Participating Interest vote shall be adopted.

• Each Party acknowledges and accepts that a fundamental principle of this Agreement is that each Party pays its Participating Interest share of all amounts due under this Agreement as and when required.

• Each such representative shall have a vote equal to the Participating Interest of the Party such person represents.

• On abandonment of a well in which operations with differing participation have been conducted, the Parties abandoning the well shall account for all equipment in the well to the Parties owning such equipment by tendering to them their respective Participating Interest shares of the value of such equipment less the cost of salvage.

More Definitions of Participating Interest

Participating Interest is defined in Section 2.3(e).

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 is defined in Section 2.3(d) hereof.

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 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 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 means the respective undivided interest of each of the parties as it may exist at any given time in the participation area and under this Participation Agreement;