Common use of Development by Less than All Parties Clause in Contracts

Development by Less than All Parties. In the event that following approval by the Operating Committee of a development Programme and Budget pursuant to Section 6.4.1, or following any notice served under Section 8.6.2 (a) less than all the Parties elect to participate in the development of a Potential Storage Site, those Parties which elected to participate shall be entitled to proceed to develop the Potential Storage Site at their sole cost and risk in accordance with the relevant Programme and Budget; provided that if the Danish Energy Agency's approval of the development plan is conditional on such development plan being amended, then the Parties participating in the development shall give notice to the other Parties of such amendments and within twenty eight (28) days of such notice: (i) any of the Parties participating may, by notice to all the other Parties, elect not to proceed; and/or (ii) any of the Parties not participating may by notice to all the other Parties elect to do so. Those Parties which at the expiration of the said period of twenty eight (28) days are participating in the development shall be obligated to carry it out.

Development by Less than All Parties. In the event that following approval by the Operating Committee of a development Programme and Budget pursuant to Section 6.4.1, or following any notice served under Section 8.6.2 (a) less than all the Parties elect to participate in the development of a Potential Storage Site, those Parties which elected to participate shall be entitled to proceed to develop the Potential Storage Site at their sole cost and risk in accordance with the relevant Programme and Budget; provided that if the Danish Energy Agency's approval of the development plan is conditional on such development plan being amended, then the Parties participating in the development shall give notice to the other Parties of such amendments and within twenty eight (28) days of such notice: (i) : any of the Parties participating may, by notice to all the other Parties, elect not to proceed; and/or (ii) and/or any of the Parties not participating may by notice to all the other Parties elect to do so. Those Parties which at the expiration of the said period of twenty eight (28) days are participating in the development shall be obligated to carry it out.

Development by Less than All Parties. In the event that following approval by the Operating Committee of a development Programme and Budget pursuant to Section 6.4.15.4.1, or following any notice served under Section 8.6.27.6.2 (a) less than all the Parties elect to participate par­ticipate in the development of a Potential Storage SiteDiscovery, those Parties which elected to participate shall be entitled to proceed to develop the Potential Storage Site Discovery at their sole cost and risk in accordance with the relevant Programme and Budget; provided that if the Danish Energy Agency's approval of the development plan is conditional on such development plan being amended, then the Parties participating in the development shall give notice to the other Parties of such amendments and within twenty eight twenty‑eight (28) days of such notice: (i) any of the Parties participating may, by notice to all the other Parties, elect not to proceed; and/or (ii) any of the Parties not participating may by notice to all the other Parties elect to do so. Those Parties which at the expiration of the said period of twenty eight twenty‑eight (28) days are participating in the development develop­ment shall be obligated to carry it out.