Independence of Operations. Each party to this MOU will maintain its own identity in providing service. Each organization is separately responsible for establishing its own policies and financing its own activities.
Independence of Operations. Nothing contained in this Agreement shall be construed to imply a joint venture, partnership or principal-agent relationship between the parties. And neither party by virtue of this Agreement shall have any right, power or authority to act or create any obligation, express or implied, on behalf of the other party.
Independence of Operations. Each party to this Memorandum of Understanding will maintain its own identity in providing service. Each organization is separately responsible for establishing its own policies and procedures and financing its own activities.
Independence of Operations. As between the Petrosearch Parties ----------------------------- and Rock, a separate operating agreement shall be deemed to be in place with respect to the Pintail #1 Well due to such well having achieved Payout (as defined in Section 1.28 of the Original Agreement). Each well drilled on Garwood North Leases or under axx xxxxr operating agreement among the parties will be treated independently. Any action or default under an operating agreement by a party with respect to one well shall not give rise to any rights or claims with respect to any other well or operation. In no event shall an operator be entitled to assert a lien or claim against one well for and on account of an action or default under an operating agreement with respect to a different well. The Petrosearch Parties agree not to offset or net any revenue attributable to Rock's interest in one well against any obligation with respect to any other well. The Petrosearch Parties agree not to interfere with, or cause to be placed in suspense any revenue attributable to Rock's interest in one well for and on account of any action or default under an operating agreement with respect to a different well.
Independence of Operations. Each Shareholder acknowledges and agrees with the other Shareholders and MRASCO that MRASCO will have complete independence in its operations and undertakes not to take any action which obstructs or interferes with, or seeks to obstruct or interfere with, the Business provided that this paragraph 4.3 shall not affect the manner in which any Shareholder may exercise its rights in respect of Shares held by it. 5.
Independence of Operations. Each organization will maintain its own identity in providing service. Each organization is separately responsible for establishing its own policies and financing its own activities.
