Failure of Participant to Take in Kind. If a Participant fails to take its proportionate share of Products in kind, the Manager shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one (1) year from the notice date described in Section 12.1, to purchase the Participant's share for its own account or to sell such share as agent for the Participant at not less than the prevailing market price in the area. Subject to the terms of any such contracts of sale then outstanding, during any period that the Manager is purchasing or selling a Participant's share of production, the Participant may elect by notice to the Manager to take in kind. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take in kind, the Manager shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one year, to purchase the Participant's share for its own account or to sell such share as agent for the Participant at not less than the prevailing market price in the area. Subject to the terms of any such contracts of sale then outstanding, during any period that the Manager is purchasing or selling a Participant's share of production, the Participant may elect by notice to the Manager to take in kind. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take in kind, the Operator shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one year, to purchase the Products for its own account or to sell such share as agent for the Participant at not less than the prevailing market price in the area. The Operator shall be entitled to deduct from proceeds of any sale by it for the account of the Participant reasonable expenses and commissions incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take in kind, the Operator shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one year, to purchase the Participant's share for its own account or to sell such share as agent for the Participant to the other Participants or any third party at not less than the prevailing market price in the area. Subject to the terms of any such contracts of sale then outstanding, during any period that the Operator is purchasing or selling a Participant's share of production, the Participant may elect by notice to the Operator to take in kind. The Operator shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take its share of Products in kind, the Manager may, but is not obligated, to sell such share on behalf of that Participant at not less than the prevailing market price in the area for a period of time consistent with the minimum needs of the industry, but not to exceed one (1) year from the date of notice under Section 10.1. Subject to the terms of any such contracts of sale then outstanding, during any period that the Manager is selling a Participant’s share of production, the Participant may elect by notice to the Manager to take in kind. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If, at any time after the Project Funding Recovery Date, the Management Committee has not authorized and directed the Manager to sell all or substantially all of the Products and a Participant:
Failure of Participant to Take in Kind. If a Participant fails to take in kind, the Manager or any Affiliate of the Manager shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one year, to purchase the Participant's share for its own account, or to sell such share as agent for the Participant, in either case at not less than the prevailing market price in the area. If the Manager or any Affiliate of the Manager undertakes to sell a Participant's share of Products as such Participant's agent, such undertaking shall not give rise to any implied covenant or duty with respect to such marketing, and the Manager's or its Affiliate's sole obligation arising from such undertaking shall be to sell the Participant's Products on terms that are substantially similar to the terms under which the Manager's share of Products is marketed. Subject to the terms of any such contracts of sale as may be then outstanding, during any period that the Manager or its Affiliate is purchasing or selling a Participant's share of production, the Participant may elect by notice to the Manager to take in kind. The Manager or its Affiliate shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take its proportionate share of Products in kind, the Manager shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed one (1) year from the notice date described in Section 11.1 , to purchase the Participant’s share for its own account or to sell such share as agent for the Participant at not less than the prevailing market price in the area. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
Failure of Participant to Take in Kind. If a Participant fails to take in kind, the Operator shall have the right, but not the obligation, for a period of time consistent with the minimum needs of the industry, but not to exceed six months, to purchase the Participant's share for its own account or to sell such share as agent for the Participant on reasonable efforts to sell at the prevailing market price in the area; any deficiency for which the Operator shall bear no responsibility, absent bad faith .. Subject to the terms of any such contracts of sale then outstanding, during any period that the Operator is purchasing or selling a Participant's Proportionate Share of Products, the Participant may elect by notice to the Operator to take in kind. The Operator shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale and any other unpaid costs of the Participant in respect to the Joint Venture and the Property.
Failure of Participant to Take in Kind. If after reasonable notice by the Manager, a Participant fails to take in kind its share of Products, the Manager shall have the right, but not the obligation, to purchase the Participant's share of Products for its own account or to sell such share as agent for the Participant on terms and conditions that are not less than the then prevailing fair market value having regard to the quantity, advanced sales and other applicable market conditions. The Manager shall facilitate the sale of Products on behalf of each Participant on such terms as may be agreed in writing. Subject to the terms of any contracts of sale then outstanding, during any period that the Manager is purchasing or selling a Participant's share of production, the Participant may elect by notice to the Manager to take Product in kind. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale.
