Duration of the Venture Sample Clauses

Duration of the Venture. The Venture shall commence as of the date of executing of this Agreement by all the Ventures, and shall continue until dissolved by mutual consent of the Ventures, or terminated as hereinafter provided. 2 1.03
Sample 1
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Duration of the Venture. The Venture commenced on September 13, 1989 and shall continue until its termination in accordance with the provisions of Article 9.
Sample 1
Duration of the Venture. The Venture shall commence on the effective date of this Agreement and shall continue until it or its properties are sold to a third party, transferred or consolidated into another business entity owned by the Parties or terminated in accordance with the provisions of this Agreement. Absent the sale of the Venture property, this Agreement shall remain in force so long as leases acquired and financed by the operations contemplated herein are extant or held by production or operations. After the maximum net acreage (300,000 net acres) is acquired under this Agreement (allowable by total funding as applied to the turn-key acreage cost) or if, upon receipt of notice as described in 2.02 (b) below, the majority in interest approve the marketing of all or part of the venture property prior to acquisition of the maximum net acreage, Next will notify the Venture participants of the closing of the Venture to additional lease acquisitions (except, however, for any additional acreage which is later added by curative non-cost means only under the same mineral tracts). In the event Next proposes to continue lease acquisitions under a similar program and structure within the same specific areas or as to a contiguous geographical extension thereof, the Venture participants shall have a thirty (30) day first right of refusal to participate in the additional lease program under a separate joint venture agreement up to the equivalent percentage level of their contribution in this Agreement, on an individual pro rata basis, at such price per percentage point of interest and turn-key costs per acre as is established in Next's sole discretion at that time. New acquisitions separate and apart from those acquired pursuant to this Agreement will be deemed excluded from the Venture property. Costs of extending the primary term of leases, if any, are not anticipated for at least five years in the great majority of instances, and such will accrue as to the Venture property on a pro-rata basis per Venture participant (or, more likely, to the buyer of the project).
Sample 1
Duration of the Venture. The Venture shall commence on the Effective Date of this Agreement, and shall continue until it or its properties are transferred or consolidated into another business entity owned by the Parties or terminated in accordance with the provisions of this Agreement.
Sample 1

Related to Duration of the Venture

  • DURATION OF THE COMPANY The Company shall continue in perpetuity unless terminated sooner by operation of law or by decision of the Member.

  • Duration of this Agreement The Term of this Agreement shall be as specified in Schedule A hereto.

  • Operation of the Company Each Party agrees to take all actions necessary to ensure that the Company shall be operated in accordance with the terms of this Agreement and the other Transaction Agreements, including, without limitation, to vote all Securities held by it (and to cause all Securities held by any of its Affiliates and permitted transferees under Section 13 to be voted) to effect the terms hereof.

  • Dissolution of the Company The Company shall be dissolved upon the happening of any of the following events, whichever shall first occur:

  • Termination of the Partnership The Partnership shall terminate when all assets of the Partnership, after payment or due provision for all debts, liabilities and obligations of the Partnership, shall have been distributed to the Partners in the manner provided for in this Article VIII, and the Certificate shall have been canceled in the manner required by the Act.

  • Operation of the Company’s Business (a) Except in each case (x) as specifically required by any other provision of this Agreement or specifically set forth in Part 5.2(a) of the Disclosure Schedule, (y) as required by any applicable Legal Requirement, or (z) with the prior written consent of Parent, during the Pre-Closing Period: (i) the Company shall conduct its business and operations (A) in the ordinary course and in accordance with past practices and (B) in compliance, in all material respects, with all applicable Legal Requirements and the requirements of all Company Contracts that constitute Material Contracts; (ii) the Company shall use commercially reasonable efforts to preserve intact its current business organization, keep available the services of its current officers and other employees and maintain its relations and goodwill with all suppliers, customers, landlords, creditors, licensors, licensees, distributors, resellers, employees and other Persons having business relationships with the Company; (iii) the Company shall keep in full force all insurance policies referred to in Section 3.19 (other than any such policies that are immediately replaced with substantially similar policies); and (iv) the Company shall promptly notify Parent of (A) any written notice or other communication of which the Company has Knowledge from any Person alleging that the Consent of such Person is or may be required in connection with any of the Contemplated Transactions, and (B) any Legal Proceeding commenced, or, to the Knowledge of the Company, threatened against, relating to, involving or otherwise affecting the Company that relates to the consummation of the Offer or the Merger or any of the other Contemplated Transactions. Except in each case (x) as specifically required by any other provision of this Agreement, (y) as required by any applicable Legal Requirement, or (z) with the prior written consent of the Company, during the Pre-Closing Period, Parent shall promptly notify the Company of (A) any written notice or other communication of which Parent has Knowledge from any Person alleging that the Consent of such Person is or may be required in connection with any of the Contemplated Transactions, and (B) any Legal Proceeding commenced, or, to the Knowledge of Parent, threatened against, relating to, involving or otherwise affecting Parent or Acquisition Sub that relates to the consummation of the Offer or the Merger or any of the other Contemplated Transactions.

  • Continuation of the Business of the Partnership After Dissolution Upon (a) dissolution of the Partnership following an Event of Withdrawal caused by the withdrawal or removal of the General Partner as provided in Section 11.1(a)(i) or (iii) and the failure of the Partners to select a successor to such Departing General Partner pursuant to Section 11.1 or Section 11.2, then, to the maximum extent permitted by law, within 90 days thereafter, or (b) dissolution of the Partnership upon an event constituting an Event of Withdrawal as defined in Section 11.1(a)(iv), (v) or (vi), then, to the maximum extent permitted by law, within 180 days thereafter, the holders of a Unit Majority may elect to continue the business of the Partnership on the same terms and conditions set forth in this Agreement by appointing as a successor General Partner a Person approved by the holders of a Unit Majority. Unless such an election is made within the applicable time period as set forth above, the Partnership shall conduct only activities necessary to wind up its affairs. If such an election is so made, then:

  • Acquisition of the Company Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for

  • Operation of the Business Between the date of this Agreement and the Closing, Seller shall:

  • Dissolution of the Partnership The Partnership shall be dissolved upon the happening of any of the following:

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