Allocation of Defaulted Accounts. (A) The Party providing the Default Notice pursuant to Article 8.1 shall include in the Default Notice to each non-defaulting Party a statement of the sum of money that the non-defaulting Party is to pay as its portion (such portion being in the ratio that each non-defaulting Party’s Participating Interest bears to the Participating Interests of all non-defaulting Parties) of the amount in default (excluding interest), subject to the terms of this Article 8.
Allocation of Defaulted Accounts. (A) The Party providing the Default Notice pursuant to Article 8.1 shall include in the Default Notice to each non-defaulting Party a statement of: (i) the sum of money that the non-defaulting Party shall pay as its portion of the Amount in Default; and (ii) if the Defaulting Party has failed to obtain or maintain any Security required of such Party in order to maintain the Contract in full force and effect, the type and amount of the Security the non-defaulting Parties, other than the Operator, shall post or the funds they shall pay in order to allow Operator, or (if Operator is in default) the notifying Party, to post and maintain such Security. Unless otherwise agreed, the obligations for which the Defaulting Party is in default shall be satisfied by the non-defaulting Parties, other than the Operator, in proportion to the ratio that each non-defaulting Party's Participating Interest bears to the Participating Interests of all non-defaulting Parties. For the purposes of this Article 8:
Allocation of Defaulted Accounts. (A) Operator shall, either at the time of giving notice of default as provided in Article 8.1, or by separate notice, notify each non-defaulting Party of the sum of money it is to pay as its portion (such portion being in the ratio that each non-defaulting Party's Participating Interest bears to the Participating Interests of all non-defaulting Parties) of such amount in default. Each non-defaulting Party shall, if such default continues, pay Operator, within five (5) Business Days after receipt of such notice, its share of the amount which the Defaulting Party failed to pay. If any non-defaulting Party fails to pay its share of the amount in default as aforesaid, such non-defaulting Party shall
(B) The total of all amounts paid by the non-defaulting Parties for the Defaulting Party, together with interest accrued on such amounts shall constitute a debt due and owing by the Defaulting Party to the non-defaulting Parties in proportion to such amounts paid. In addition the non-defaulting Parties may in the manner contemplated by this Article, satisfy such debt (together with interest) and may accrue an amount equal to the Defaulting Party's Participating Interest share of the estimated cost to abandon any Joint Property.
(C) A Defaulting Party may remedy its default by paying to Operator the total amount due, together with interest calculated as provided in Article 8.1, at any time prior to transfer of its interest pursuant to Article 8.4, and upon receipt of such payment Operator shall remit to each non-defaulting Party its proportionate share of such amount.
(D) The rights granted to each non-defaulting Party pursuant to this Article, shall be in addition to, and not in substitution for any other rights or remedies which each non-defaulting Party may have at law or equity or pursuant to the other provisions of this Agreement.
Allocation of Defaulted Accounts. 14 8.4 Remedies ..................................................... 15 8.5 Survival ..................................................... 16 8.6
Allocation of Defaulted Accounts. (a) The Party providing the Default Notice pursuant to clause 8.1 shall include in the Default Notice to each non-defaulting Party a statement of:
(i) the sum of money that the non-defaulting Party shall pay as its portion of the Amount in Default; and
(ii) if the Defaulting Party has failed to provide or maintain any Security required of such Party in order to maintain the PSC in full force and effect, the type and amount of the Security the non-defaulting Parties shall post or the funds they shall pay in order to allow Operator, or (if Operator is in default) the notifying Party, to post and maintain such Security.
(iii) Unless otherwise agreed, the obligations for which the Defaulting Party is in default shall be satisfied by the non-defaulting Parties in proportion to the ratio that each non-defaulting Party’s Participating Interest bears to the Participating Interests of all non-defaulting Parties.
(iv) For the purposes of this clause 8: Amount in Default means the Defaulting Party’s share of Joint Account expenses which the Defaulting Party has failed to pay when due pursuant to the terms of this Agreement (but excluding any interest owed on such amount); and
Allocation of Defaulted Accounts. A. The Concessionaire providing the Default Notice pursuant to Article 9.1 shall include in the Default Notice to each non-defaulting Concessionaire and the INP a statement of: (i) the type of default, (ii) the time in Default, (iii) the sum of money that the non-defaulting Concessionaire shall pay as its portion of the amount in Default; and (iv) if the Defaulting Concessionaire has failed to obtain or maintain any Security required of such Concessionaire in order to maintain the EPCC in full force and effect, the type and amount of the Security the non-defaulting Concessionaires shall post or the funds they shall pay in order to allow Operator on behalf of the non-defaulting Concessionaires, or (if Operator is in default) the notifying Concessionaire, to post and maintain such Security. Unless otherwise agreed, the obligations for which the Defaulting Concessionaire is in default shall be satisfied by the non-defaulting Concessionaires in proportion to the ratio that each non-defaulting Concessionaire’s Participating Interest bears to the Participating Interests of all non-defaulting Concessionaires. The INP shall be copied on any written communication between the defaulting Concessionaire and Operator, or between the Operator and any other Concessionaire, relating to the default situation or procedure. For the purposes of this Article:
