Common use of Conversion of Minority Interest to Royalty Clause in Contracts

Conversion of Minority Interest to Royalty. (a) If a Participant's Participating Interest is reduced to less than 10%, the Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest. Such relinquished Participating Interest shall be and be deemed to have been transferred automatically to the other Participant. The Participant which has relinquished its Participating Interest shall in lieu thereof have the right to be paid the royalty provided in Article 9.

Conversion of Minority Interest to Royalty. (a) If a Participant's Participating Interest is reduced to less than 10%% under the provisions of Section 5.6 or Section 9.5(c), the Participant shall will be deemed to have withdrawn from this Agreement and shall relinquish relinquished its entire Participating Interest. Such relinquished Participating Interest shall be and be deemed to have been transferred transfers automatically to the other Participant. The Participant which has relinquished its Participating Interest and the provisions of Article 10 shall in lieu thereof have the right to be paid the royalty provided in Article 9apply.

Conversion of Minority Interest to Royalty. (a) If a Participant's ’s Participating Interest is reduced to less than 10%% under the provisions of Section 5.5 or Section 9.4(d), the Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest. Such relinquished Participating Interest shall be and be deemed to have been transferred automatically to the other ParticipantParticipant or, if more than one, to the other Participants pro rata in accordance with their respective Participating Interests. The Participant which has relinquished its Participating Interest shall in lieu thereof have the right to be paid the royalty provided in Article 910.

Conversion of Minority Interest to Royalty. (a) If a Participant's ’s Participating Interest is reduced to less than 10%, % under the provisions of Section 5.3 the Participant shall be deemed to have withdrawn from this Agreement and shall relinquish its entire Participating Interest. Such relinquished Participating Interest shall be and be deemed to have been transferred automatically to the other ParticipantParticipant or, if more than one, to the other Participants pro rata in accordance with their respective Participating Interests. The Participant which has relinquished its Participating Interest shall in lieu thereof have the right to be paid the royalty provided in Article 910.