Establishment and Powers. There is hereby established an Operating Committee which shall exercise overall supervision and control of all matters pertaining to the Joint Operations.
Establishment and Powers. The Board of Directors may, by resolution adopted by a majority of the Directors in office, establish one or more committees to consist of one or more Directors of the Company. Any committee, to the extent provided in the resolution of the Board of Directors, shall have and may exercise all of the powers and authority of the Board of Directors except that a committee shall not have any power or authority as to the following:
(1) The creation or filling of vacancies in the Board of Directors;
(2) Action on any matter that requires unanimous approval of the entire Board of Directors;
(3) The amendment of this Agreement;
(4) The amendment or repeal of any resolution of the Board of Directors;
(5) Action on matters committed by a resolution of the Board of Directors to another committee of the Board.
Establishment and Powers. There is hereby established an Operating Committee which shall exercise general supervision and control over all matters pertaining to the Joint Operations. Without limiting the generality of the foregoing, but subject as otherwise provided in this Agreement, the powers and duties of the Operating Committee shall include:
(i) the consideration and determination of all matters relating to general policies, procedures and methods of operation hereunder;
(ii) subject to Article 15 the approval of any public announcement or statement regarding this Agreement or the Joint Operations;
(iii) the consideration, revision and approval or disapproval of all proposed Programs and Budgets and AFE's prepared and submitted to it pursuant to the provisions of this Agreement;
(iv) the determination of the timing and location of all wells drilled under the Joint Operations (including xxx deepening, completing, sidetracking, plugging back, reworking or abandonment thereof) and any change in the use or status of a well;
(v) the consideration and determination of extensions or renewals of a License and the area required to be surrendered in accordance with the Petroleum Law or the relevant License including the voluntary surrender of a License or any part thereof;
(vi) removal of Operator in accordance with Article 4.2.2 hereof and the election of a successor Operator;
(vii) the consideration and determination of contributions to and from third parties for the drilling of wells and the purchase, sale or exchange of informaxxxx from, to or with third parties;
(viii) the determination of any field to be included in a development Program for a Discovery and the making of any related application for the issue of a production lease to be issued under the Petroleum Law in respect of the License Area (or any part of it);
(ix) the consideration and, if so required, the determination of any other matter relating to the Joint Operations which may be referred to it by the Parties or any of them (other than any proposal to amend this Agreement) or which is otherwise designated under this Agreement for reference to it.
Establishment and Powers. The Authority shall be governed by a Board of Directors as described in this Article. The Board shall exercise and perform all powers, privileges and duties vested in or imposed on the Authority, subject to the provisions of this Agreement and §604(1)(a) of the Act.
Establishment and Powers. A Court of Justice of the Community is hereby established.
Establishment and Powers. 22 8.2 Representation.................................................................................23 8.3 Chairman.......................................................................................23 8.4
Establishment and Powers. 1. A Court of Justice of the Community is hereby established.
2. The Court of Justice shall ensure that the law is observed in the interpretation and application of this Treaty and shall decide disputes submitted to it under this Treaty.
3. The Court of Justice shall accordingly:
a) ensure the legality of the decisions, directives and regulations of Community institutions;
b) decide on actions brought by a Member State or the Conference on the grounds of lack of competence, misuse of powers or infringement of an essential procedural requirement of this Treaty;
c) give preliminary rulings on: - The interpretation of this Treaty; - The validity of the decisions, directives and regulations formulated by Community institutions.
d) give advisory opinions on any legal matter at the request of the Conference or Council.
4. Xxxxxx to deal with other disputes may be granted to the Court by decisions taken by the Conference by virtue of this Treaty.
Establishment and Powers. The Board of Delegates may, by resolution adopted by a majority of the Delegates in office, establish one or more committees to consist of one or more Delegates of the Consortium. Any committee, except to the extent provided in the resolution of the Board of Delegates, shall not have and may not exercise any of the powers and authority of the Board of Delegates.
Establishment and Powers. There is hereby established a Joint Operating Committee which shall exercise overall supervision and control of all matters pertaining to the Joint Operations. Without limiting the generality of the foregoing, but subject as otherwise provided in this Agreement, the powers and duties of the Joint Operating Committee shall include:-
(a) the consideration and determination of all matters in general relating to policies, procedures and methods of operation hereunder with the intent that all such operations should be undertaken in a manner consistent with Good Oilfield Practice and in compliance with best practice standards in respect of health and safety and of the environment;
(b) the consideration, and, if so required, determination of, inter alia, the following:
(i) exploration, appraisal, development and production strategies;
(ii) contract strategy;
(iii) decisions as to cessation of production, strategies for Decommissioning and the disposal of Joint Property; and
(iv) any other matter relating to the Joint Operations which may be referred to it by the Participants or any of them (other than any proposal to amend this Agreement) or which is otherwise designated under this Agreement for reference to it;
(c) the approval of Programmes and Budgets; and
(d) the amendment of the monetary limits set out in this Agreement from time to time either generally or in respect of particular operations or particular phases of operations, to take account of the general level of inflation and (if appropriate) the prevailing costs of relevant goods and services, at the request of the Operator or any Participant.
Establishment and Powers. Transporter will in consultation with Producers and Other Producers establish Producers’ Forum the purpose of which is to accommodate discussions on the operation of the Transportation System, the qualities of Finished Products including the export quality of the Crude Oil as stipulated in Section 11.4, budgets and accounts, Transporter’s operational procedure for monitoring and capacity management, lifting and shipping of Finished Products etc. If, in the reasonable opinion of either Transporter or Producers and Other Producers acting jointly, the application of this Agreement leads to unforeseen operational difficulties or inequities, the Parties and Other Producers shall meet in good faith in the Producer’s Forum to consider, but shall not be obligated to agree, appropriate amendments of the Agreement, including its Exhibits, or the application hereof.
