Common use of Participating Interests Clause in Contracts

Participating Interests. 1. When and if the Government elects, pursuant to clause 28 of the contract, to participate in petroleum operations in a participation area, the Contractor constituting the contractor shall assign proportionately to the Government a part of its interest in the development area so that the rights, interest and obligations of the contractor and the Government in such area shall be owned and borne as of the participation date in undivided interests as follows: Government………… ( …..%) or such lesser amount as may be elected in accordance with clause 28 of the Contract; Contractor…………(……. %) or such greater amount as may remain after the Government's election.

Participating Interests. 1. When and if the Government elects, pursuant to clause 28 of the contract, to participate in petroleum operations in a participation area, the Contractor constituting the contractor shall assign proportionately to the Government a part of its interest in the development area so that the rights, interest and obligations of the contractor and the Government in such area shall be owned and borne as of the participation date in undivided interests as follows: Government………… Government ( …..%) or such lesser amount as may be elected in accordance with clause 28 of the Contract; Contractor…………(……. %) or such greater amount as may remain after the Government's election.

Participating Interests. 1. When and if the Government elects, pursuant to clause 28 of the contract, to participate in petroleum operations in a participation area, the Contractor constituting the contractor shall assign proportionately to the Government a part of its interest in the development area so that the rights, interest and obligations of the contractor and the Government in such area shall be owned and borne as of the participation date in undivided interests as follows: Government………… ( …..%) or such lesser amount as may be elected in accordance with clause 28 of the Contract; Contract; Contractor…………(……. %) or such greater amount as may remain after the Government's election.

Participating Interests. 1. When and if the Government elects, pursuant to clause 28 of the contract, to participate in petroleum operations in a participation area, the Contractor each entity constituting the contractor shall assign proportionately to the Government a part of its interest in the development area so that the rights, interest and obligations of the contractor and the Government in such area shall be owned and borne as of the participation date in undivided interests as follows: Government………… ( …..%) or such lesser amount as may be elected in accordance with clause 28 of the Contract; Contractor…………(……. %) or such greater amount as may remain after the Government's election.