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.
Appears in 4 contracts
Samples: Joint Operating Agreement, Joint Operating Agreement, Joint Operating Agreement (Kosmos Energy Ltd.)
Allocation of Defaulted Accounts. (A) The Party providing the Default Notice pursuant to Article 8.1 7.1 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 87.
Appears in 3 contracts
Samples: Joint Venture & Partnership Agreement (Guskin Gold Corp.), Joint Venture & Partnership Agreement (Guskin Gold Corp.), Joint Venture & Partnership Agreement (Guskin Gold Corp.)
Allocation of Defaulted Accounts. (A) The Party providing the Default Notice pursuant to Article 8.1 Section 7.1 shall include in the Default Notice to each non-defaulting Working Interest Party a statement of the sum of money that the non-defaulting Working Interest Party is to pay as its portion (such portion being in the ratio that each non-defaulting Working Interest Party’s 's Participating Interest Interests bears to the Participating Interests of all non-defaulting Working Interest Parties) of the amount in default (excluding interest), subject to the terms of this Article 8Section 7.
Appears in 2 contracts
Samples: Assignment of State Participating Interest (Triton Energy LTD), Assignment of State Participating Interest (Triton Energy LTD)
Allocation of Defaulted Accounts. (A) The Party providing the Default Notice pursuant to Article 8.1 7.1 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 shall pay as its portion (such portion being of the Amount in Default. 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) of . For the amount in default (excluding interest), subject to the terms purposes of this Article 8.7:
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Allocation of Defaulted Accounts. (Aa) The Party providing the Default Notice pursuant to Article 8.1 9.1 shall include in the Default Notice to each non-defaulting Party Party, particulars of the alleged Default including, if applicable, 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 Paying Share bears to the Participating Interests Paying Shares of all non-defaulting Parties) of the amount in default (excluding interest), subject to the terms of this Article 89.
Appears in 1 contract
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-non- defaulting Party is to pay as its portion (such portion being in the ratio that each non-non- defaulting Party’s Participating Interest bears to the Participating Interests of all non-non- defaulting Parties) of the amount in default (excluding interest), subject to the terms of this Article 8.
Appears in 1 contract
Samples: Joint Operating Agreement
