Consideration and Approval of Overstrip Agreement Requests Sample Clauses

Consideration and Approval of Overstrip Agreement Requests a. Proposed uses of Overstrip Area lands are subject to approval by the other Party if it either owns or controls the affected fee surface, or in the case of federal or State-owned surface, it is the surface lessee. Proposed uses of Overstrip Area lands consisting of fee surface or leased surface controlled by the Party delivering an Overstrip Agreement Request are not subject to approval by the other Party (and receipt of an Overstrip Agreement Request shall serve as notice to the receiving Party that such lands will be occupied and that the Party giving notice has priority of use thereon) unless such Overstrip Area lands already are subject to an existing Overstrip Agreement Request or Overstrip Agreement that gives the other Party priority of use. A Party receiving an Overstrip Agreement Request has ten (10) days following its receipt thereof in which to acknowledge in writing its receipt thereof. Representatives of the Parties shall meet (either in person or by conference call) no later than fifteen (15) days from the date of delivery of an Overstrip Agreement Request to consider the completeness of the request and whether it satisfies the need requirement of Section 3.2. Following such meeting the Party making the Overstrip Agreement Request shall provide such additional information with respect thereto, if any, as is reasonably requested by the other Party. Approval of an Overstrip Agreement Request that is complete and satisfies the need requirement of Section 3.2 shall not be unreasonably withheld.
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Related to Consideration and Approval of Overstrip Agreement Requests

  • Approval of Agreement The Board of Directors of the Company has authorized the execution and delivery of this Agreement by the Company and has approved this Agreement and the transactions contemplated hereby.

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