Application Of Operating Procedure. As of the Effective Date, and except as may otherwise be provided herein, the Operating Procedure as amended by this Agreement: governs the relationship of the Parties as to their respective Pooled Interests; and applies to all Operations conducted on the Pooled Lands and the production of Pooled Substances therefrom.
Application Of Operating Procedure. The relationship of the Parties and the maintenance and operation of lands acquired pursuant to this Article will be governed by the Operating Procedure, unless those lands are to be governed by a different agreement or those lands were acquired by some, but fewer than all, Parties. If those lands were acquired by fewer than all Parties, the Operating Procedure will apply mutatis mutandis to those lands, and, if the Operator under the Operating Procedure is not an acquiring Party therein, the acquiring Parties will appoint an Operator for those lands as provided in the Operating Procedure.
Application Of Operating Procedure. The Parties hereto agree that from and after the Effective Date and subject to Clause l(e) hereof, the Operating Procedure shall apply in respect to all matters relating to the exploration, development, and operation of the joint lands and the maintenance of the title documents.
Application Of Operating Procedure. Subject to Clause 17.01 and any restrictions imposed in the Head Agreement, each operation conducted upon any portion of the Farmout Lands in which the Farmee has earned a Working Interest hereunder will be conducted pursuant to the provisions of the Operating Procedure, if any. The initial Operator and the initial Working Interests of the Parties thereunder will be as set forth in the Head Agreement.
Application Of Operating Procedure. The relationship of the Parties and the maintenance and operation of lands acquired pursuant to this Section will be governed by the Operating Procedure, with the elections set forth in Schedule “D” unless those lands are to be governed by a different agreement.
Application Of Operating Procedure. Subject to the specific provisions of this Carried Interest Procedure, all of the provisions of the Operating Procedure shall apply mutatis mutandis between the parties hereto and be deemed to be incorporated herein except to the extent that any such terms and conditions are inconsistent with the specific provisions and intent of this Carried Interest Procedure and generally accepted understandings in the industry of a net carried interest, and the Carried Interest Owner shall have the same rights as a Non-Operator and Panarctic shall have the same rights as the Operator under such applicable provisions of the Operating Procedure. In particular, but not so as to restrict the generality or the foregoing, the Carried Interest Owner shall be entitled to the same information and statements furnished by the Operator to a Non-Operator under the Operating Procedure and all operations shall be carried on by Panarctic in the same manner as operations are to be carried on under the provisions of the Operating Procedure. Notwithstanding anything to the contrary, expressed or implied above or in the Operating Procedure,
(a) Panarctic shall have the sole and exclusive control and management of the development and operation of the said Lands and shall not require the consent of the Carried Interest Owner to any such development or operation, drilling or otherwise, or to the expenditure of monies thereon;
(b) Panarctic agrees to advance or obtain the advancement of all monies for the conduct of operations on the said Lands such that no monies need be advanced by the Carried Interest Owner;
Application Of Operating Procedure. The Operating Procedure will apply to all operations conducted in respect of the maintenance, exploration and development of the Breclav Block for the production of petroleum substances pursuant to the Title Documents and the applicable regulations.
Application Of Operating Procedure. If New Lands are acquired by more than one Party without being subject to an agreement which provides for the Joint Operation of those New Lands, the acquiring Parties shall be bound by the Operating Procedure for the maintenance and operation of those New Lands. If the Operator under the Operating Procedure is not an acquiring Party for the New Lands, the acquiring Parties shall appoint an operator for the New Lands as provided in the Operating Procedure.
Application Of Operating Procedure. As of the Effective Date, the Operating Procedure will govern the relationship of the Parties as to their Working Interests and will apply to all Operations conducted with respect to the exploration, development and maintenance of the Joint Lands and the production of Petroleum Substances pursuant to the Title Documents and Regulations.
Application Of Operating Procedure. The Operating Procedure will apply to all operations conducted in respect of the maintenance, exploration and development of the Rostin Block for the production of petroleum substances pursuant to the Title Documents and the applicable regulations.
