Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
Appears in 4 contracts
Samples: Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC)
Deemed Non-Consent. The non-defaulting party Party may deliver a written Notice of Non-Consent Election to the defaulting party Party at any time after the expiration of the thirty-thirty (30) day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party Party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto to the operation under Article VI.B. VI.B or VI.C.VI.C, as the case may be, to the extent of the costs unpaid by such partythe Party, notwithstanding any election to participate theretofore previously made. If election is made to proceed under this provision, then the non-defaulting parties Parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such the Notice of Non-Consent Election to the defaulting partyParty, such party the Party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” B; provided, however, such the payment shall not prejudice the rights of the non-defaulting parties Parties to pursue remedies for damages incurred by the non-defaulting parties Parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. VII.D.3 shall be offered to the non-defaulting parties Parties in proportion to their interests, and the non-defaulting parties Parties electing to participate in the ownership of such that interest shall be required to contribute their shares of the defaulted amount upon on their election to participate thereinin that ownership.
Appears in 2 contracts
Samples: Operating Agreement (American Liberty Petroleum Corp.), Operating Agreement (American Liberty Petroleum Corp.)
Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C.VI.C, as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
Appears in 2 contracts
Samples: Purchase and Sales Agreement, Purchase and Sales Agreement (Imperial Petroleum Inc)
Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “"C,” " provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
Appears in 2 contracts
Samples: Operating Agreement (EV Energy Partners, LP), Operating Agreement (EV Energy Partners, LP)
Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx sxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
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Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interestsinterest, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
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Deemed Non-Consent. The non-defaulting party may Upon approval of the nondefaulting Parties, Unit Operator shall deliver a written Notice notice of Nonnon-Consent Election consent election to the defaulting party Party at any time after the expiration of the thirty30-day cure period following delivery of the Notice notice of Defaultdefault, in which event if the billing is for the drilling Drilling of an Exploratory Well or any other well prior to the establishment of a new well participating area or the Plugging Back, Sidetracking, Reworking Back or Deepening of a well which that is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party Party will be conclusively deemed to have elected not to participate in the operation and to be a Nonnon-Consenting consenting Party with respect thereto under Article VI.B. or VI.C.12, as and the case may be, defaulting Party shall be subject to the extent provisions of the costs unpaid by such partySection 12.3, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may nondefaulting Parties shall not elect be entitled to xxx for the unpaid amount pursuant to Article VII.D.2this Agreement. Until the delivery of such Notice the notice of Nonnon-Consent Election consent election to the defaulting partyParty, such party Party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” 1; provided, however, such the payment shall not prejudice the rights of the non-defaulting parties nondefaulting Parties to pursue remedies for damages incurred by the non-defaulting parties nondefaulting Parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. 28.4 shall be offered credited to the defaulting parties nondefaulting Parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest nondefaulting Parties shall be required to contribute their shares of the defaulted amount upon their election to participate thereinamount.
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Deemed Non-Consent. The non-defaulting party Party may deliver a written Notice of Non-Consent Election to the defaulting party Party at any time after the expiration of the thirty-thirty (30) day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party Party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto to the operation under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such partythe Party, notwithstanding any election to participate theretofore previously made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such the Notice of Non-Consent Election to the defaulting partyParty, such party the Party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” ”; provided, however, such the payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such that interest shall be required to contribute their shares of the defaulted amount upon on their election to participate thereinin that ownership.
Appears in 1 contract
Samples: Joint Operating Agreement
Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “"C,” " provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
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Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, Default in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will win be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. VLB. or VI.C.VLC, as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx sue for the unpaid amount pursuant to Article VII.D.2VILD.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the nonnom-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the die defaulted amount upon their election to participate therein.
Appears in 1 contract
Samples: Operating Agreement (American Standard Energy Corp.)
Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion Re-completion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx sue for the unpaid amount pursuant to Article VII.D.2. Until the delivery dxxxvery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “"C,” " provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
Appears in 1 contract
Samples: Joint Development Agreement (Independence Energy Corp.)
Deemed Non-Consent. The non-defaulting party may Unit Operator may, at its sole option, and Unit Operator shall, upon Approval of the nondefaulting Parties, deliver a written Notice notice of Nonnon-Consent Election consent election to the any defaulting party Party at any time after the expiration of the thirty-a thirty (30) day cure period following delivery of the Notice applicable notice of Defaultdefault. In such event, in which event if the billing amount owed by the defaulting Party is for the drilling of a new well or the Drilling, Deepening, Sidetracking, Reworking, Plugging Back, SidetrackingCompleting, Reworking Recompleting or Deepening Equipping of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, other operation hereunder and such amount is not paid by the defaulting party Party within the thirty (30) day cure period provided above, then the defaulting Party will be conclusively deemed to have elected not to participate in the operation and to will be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as thereto. The defaulting Party shall be subject to the case may be, non-consent provisions and penalties contained herein to the extent of the costs unpaid Costs owed by such partyParty, notwithstanding any previous election to participate theretofore mademade by such Party. If election is made to proceed under this provision, then Until delivery of the above-described notice of non-defaulting parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election consent election to the defaulting partyParty, such party Party shall have the right to cure its default by paying its unpaid share of costs Costs, plus interest at the rate set forth in Exhibit “C,1” attached hereto; provided, however, such that the payment thereof shall not prejudice the rights of the non-defaulting parties nondefaulting Parties to pursue remedies for damages incurred by the non-defaulting parties nondefaulting Parties as a result of the default. Any interest relinquished by the defaulting Party pursuant to this Article VII.D.3. Section shall be offered credited to the defaulting parties Unit Operator or the nondefaulting Parties who paid such Costs, as the case may be, in proportion to their interestsaccordance with the non-consent provisions contained elsewhere herein, and the non-defaulting parties electing to participate in the ownership of such interest nondefaulting Parties shall be required to contribute their respective shares of the defaulted amount upon their election to participate thereinamount.
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Deemed Non-Consent. The non-defaulting party may deliver a written Notice of Non-Consent Election to the defaulting party at any time after the expiration of the thirty-day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C., as the case may be, to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. If election is made to proceed under this provision, then the non-defaulting parties may not elect to xxx sxx for the unpaid amount pursuant to Article VII.D.2. Until the delivery of such Notice of Non-Consent Election to the defaulting party, such party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” provided, however, such payment shall not prejudice the rights of the non-defaulting parties to pursue remedies for damages incurred by the non-defaulting parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties in proportion to their interests, and the non-defaulting parties electing to participate in the ownership of such interest shall be required to contribute their shares of the defaulted amount upon their election to participate therein.
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Deemed Non-Consent. The non-defaulting party Party may deliver a written Notice of Non-Consent Election to the defaulting party Party at any time after the expiration of the thirty-thirty (30) day cure period following delivery of the Notice of Default, in which event if the billing is for the drilling of a new well or the Plugging Back, Sidetracking, Reworking Reworking, or Deepening of a well which is to be or has been plugged as a dry hole, or for the Completion or Recompletion of any well, the defaulting party Party will be conclusively deemed to have elected not to participate in the operation and to be a Non-Consenting Party with respect thereto under Article VI.B. or VI.C.VI.C. (Drilling and Development; Subsequent Operations; and Completion of Xxxxx; Reworking and Plugging Back), as the case may be, to the extent of the costs unpaid by such partythe Party, notwithstanding any election to participate theretofore previously made. If an election is made to proceed under this provision, then the non-defaulting parties Parties may not elect to xxx for the unpaid amount pursuant to Article VII.D.2. (Expenditures and Liabilities of Parties; Defaults and Remedies; Suit for Damages). Until the delivery of such the Notice of Non-Consent Election to the defaulting partyParty, such party the Party shall have the right to cure its default by paying its unpaid share of costs plus interest at the rate set forth in Exhibit “C,” ”; provided, however, such the payment shall not prejudice the rights of the non-defaulting parties Parties to pursue remedies for damages incurred by the non-defaulting parties Parties as a result of the default. Any interest relinquished pursuant to this Article VII.D.3. shall be offered to the non-defaulting parties Parties in proportion to their interests, and the non-defaulting parties Parties electing to participate in the ownership of such the interest shall be required to contribute their shares of the defaulted amount upon on their election to participate thereinin the interest.
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