Sole Risk Party definition

Sole Risk Party means a Party which participates in a Sole Risk Operation; 138 "Unpaid Amount" has the meaning given to that term in Clause 15.1; "Wilful Misconduct" means intentional acts and omissions done or omitted to be done, which raise the reasonable belief that they were the result of a conscious indifference to the right or welfare of those who are or may be affected by them; "Withdrawing Party" has the meaning given to that term in Clause 16.2; and "Work Obligation" means the minimum work or expenditure required to be performed or made by the registered holders of the Permit as a condition of the Permit; 1.2 Interpretation Unless expressed to the contrary: (a) words importing: (i) the singular include the plural and vice versa; and
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Sole Risk Party. - means the Party who proposes and/or undertakes a Sole Risk Operation pursuant to this Clause 11.
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Sole Risk Party has the meaning specified in Article 13.2.3;
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Examples of Sole Risk Party in a sentence

  • If the Operator is a Sole Risk Party, it shall carry out the Sole Risk Operation.

  • If the Operator is not a Sole Risk Party, the Sole Risk Parties may appoint the Operator, if the Operator agrees to accept such appointment, or one of their number as Sole Risk Operator.

  • The Proposing Party may begin the Sole Risk Operation after the Sole Risk Interests have been settled in accordance with Clause 12.8. A Sole Risk Party shall not commence a Sole Risk Operation more than six (6) months after giving the relevant Sole Risk Operation Notice.

  • JOB shall promptly prepare a program and budget covering the said operations(Sole Risk Operations) and shall submit the same to the Sole Risk Party.

  • The Company shall maintain separate books, records and accounts for Sole Risk Costs, as appropriate, which will provide: (i) the basis for all cash to be furnished by the Sole Risk Party to the Company to fund a Sole Risk Operation, and (ii) a determination of Net Profits and Cash Surplus associated with the Sole Risk Operation available for distribution to the Sole Risk Party in accordance with Clause 9.1(C).

  • OF THE OPERATOR FOR SOLE RISK OPERATION A Sole Risk Party shall be entitled to use Joint Property and personnel of the Operator for the Sole Risk Operation upon terms and conditions agreed by the Parties, provided however that it is understood that, at all times, the Joint Operations shall take precedence over the Sole Risk Operation in such use of Joint Property and personnel.

  • The Non Sole Risk Party shall have the right to be deemed to have participated in such survey by giving notice at any time to the Sole Risk Party of its intention to do so and paying to the said Sole Risk Party within thirty (30) days from the date of giving such notice twice its Participating Interest share of the total cost of such survey already incurred.

  • Notwithstanding that the Operator may not be the Sole Risk Party, the Sole Risk Operation shall, subject to Article 16.7.3 and Article 16.8, be carried out promptly and diligently by the Sole Risk Operator for the sole account and benefit of the Sole Risk Party.

  • However, if the Sole Risk Party is unable to conduct a Sole Risk Operation due to force majeure, conflicts with operations, the respective periods set forth in the preceding sentence shall be extended for a period not to exceed an additional seventy-five (75) Days or one hundred eighty (180) Days, as the case may be, unless such extension results in interruption of delivery of the Work Program by the Company.

  • If Sole Risk Party does not include Operator, such Sole Risk Party may replace Operator with respect to a Sole Risk Development as contemplated herein.


More Definitions of Sole Risk Party

Sole Risk Party means one or more Shareholders participating in a Sole Risk Operation.
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Related to Sole Risk Party

  • Country Risks means with respect to any Foreign Depository: (a) the financial infrastructure of the country in which it is organized, (b) such country’s prevailing custody and settlement practices, (c) nationalization, expropriation or other governmental actions, (d) such country’s regulation of the banking or securities industry, (e) currency controls, restrictions, devaluations or fluctuations, and (f) market conditions which affect the order execution of securities transactions or affect the value of securities.

  • Sole Source means a Trade Contractor or Supplier or Subcontractor specified by name in a Bulletin as the exclusive source from which conforming goods or services may be obtained. Designation of goods or services by reference to a named source accompanied by the qualification “or equal” or similar language is not a designation of a Sole Source as that term is defined herein.

  • Country Risk means all factors reasonably related to the systemic risk of holding Foreign Assets in a particular country including, but not limited to, such country’s political environment, economic and financial infrastructure (including any Eligible Securities Depository operating in the country), prevailing or developing custody and settlement practices, and laws and regulations applicable to the safekeeping and recovery of Foreign Assets held in custody in that country.

  • Manufactured products means items and construction materials composed in whole or in part of non-ferrous metals such as aluminum; plastics and polymer-based products such as polyvinyl chloride pipe; aggregates such as concrete; glass, including optical fiber; and lumber.

  • high risk breach means that the threshold for notifying the individual is higher than that for notifying the relevant supervisory authority.

  • Sovereign Risk means nationalization, expropriation, currency devaluation, revaluation or fluctuation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting a Fund's Assets; or acts of armed conflict, terrorism, insurrection or revolution; or any other act or event beyond the Custodian's or such other Person's control.

  • High Risk Activities means uses such as the operation of nuclear facilities, air traffic control, or life support systems, where the use or failure of the Services could lead to death, personal injury, or environmental damage.

  • EXXXX means the Commission’s Electronic Data Gathering, Analysis and Retrieval System.

  • Fxxxxx Mae The Federal National Mortgage Association, or any successor thereto.

  • systemic risk means a risk of disruption in the financial system with the potential to have serious negative consequences for the financial system and the real economy;

  • Borrower Products means all products, software, service offerings, technical data or technology currently being designed, manufactured or sold by Borrower or which Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical data or technology that have been sold, licensed or distributed by Borrower since its incorporation.

  • Fxxxxx Mae Guides The Fxxxxx Mxx Selling Guide and the Fxxxxx Mae Servicing Guide and all amendments or additions thereto.

  • Manufactured dwelling means a residential trailer, a mobile home or a manufactured

  • Related Products means (i) with respect to Resource Adequacy Benefits that portion of the Resource Adequacy Benefits that are in excess of those Resource Adequacy Benefits used by Seller or by a Site Host, both in connection with the Host Site, to meet a known and established, at the point in time when the Resource Adequacy Benefits are to be used, resource adequacy obligation under any Resource Adequacy Ruling, and (ii) any Green Attributes, Capacity Attributes and all other attributes associated with the electric energy or capacity of the Generating Facility (but not including any Financial Incentives) that are in excess of those Green Attributes, Capacity Attributes or other attributes used, or retained for future use, by Seller or a Site Host, both in connection with the Host Site, to meet a known and established, at the point in time when the relevant attribute(s) are to be used or retained, obligation under Applicable Law.

  • Steel Products means products rolled, formed, shaped, drawn, extruded, forged, cast, fabricated or otherwise similarly processed, or processed by a combination of two or more or such operations, from steel made by the open heath, basic oxygen, electric furnace, Bessemer or other steel making process. The Purchasing Division Director may, in writing, authorize the use of foreign steel products if:

  • Designated Products means products provided by Motorola to Licensee with which or for which the Software and Documentation is licensed for use.