Common use of Failure to Make Payment by non-Operator Clause in Contracts

Failure to Make Payment by non-Operator. If a Party which has elected to participate in a Program fails to make a required payment within the 60 day period referred to in Section 5.4 of this Schedule “B”, such Party’s Joint Venture Interest shall be diluted at a rate of two times normal dilution.

Failure to Make Payment by non-Operator. If Subject to Sections 5.7 and 5.8 of this Schedule "C", if a Party which has elected to participate in a Program fails to make a required payment within the 60 day period referred to in Section 5.4 of this Schedule “B”"C", such Party’s 's Joint Venture Interest shall be diluted with respect to Expenditures made in respect of such Program at a rate of two times normal dilution.

Failure to Make Payment by non-Operator. If Subject to Sections 5.7 and 5.8 of this Schedule “C”, if a Party which has elected to participate in a Program fails to make a required payment within the 60 day period referred to in Section 5.4 of this Schedule “BC”, such Party’s 's Joint Venture Interest shall be diluted with respect to Expenditures made in respect of such Program at a rate of two times normal dilution.

Failure to Make Payment by non-Operator. If Subject to Sections 5.7 and 5.8, if a Party which has elected to participate in a Program fails to make a required payment within the 60 day period referred to in Section 5.4 of this Schedule “B”5.4, such Party’s 's Joint Venture Interest shall be diluted with respect to Expenditures made in respect of such Program at a rate of two (2) times normal dilution.