Joint Venture Operating Agreement. On or as soon as practicable after the Earning Date the parties shall enter into an exploration joint venture operating agreement in respect of the Nation Blocks on terms customary for such an agreement in the Australian petroleum industry and under which:
(a) Paltar holds the Paltar Interest and Nation holds the Nation Interest in the Nation Blocks;
(b) Paltar is the operator of the joint venture;
(c) Nation shall contribute 100% of the actual Work Program Expenses under the joint venture operating agreement until production licences have been issued covering each Nation Block;
(d) Nation shall not be permitted to withdraw from the joint venture operating agreement until the end of the fifth Permit Year;
(e) the terms set out in clause 6.1 to 6.3 (inclusive) of this Agreement will be incorporated; and
(f) the terms of the Option in favour of Nation set out clauses 5.3 to 5.7 (inclusive) will be incorporated and, in the event that the Option is exercised by Nation with respect to a Production Licence, then the Production Licence will not form part of the joint venture property under the joint venture operating agreement from the date of exercise of the Option, and
(g) upon entry into the joint venture operating agreement, the remaining effective clauses of this Agreement will immediately terminate with respect to the Nation Blocks, subject to any and all accrued rights and liabilities of the parties.
Joint Venture Operating Agreement. Each Holder that retains an interest in Titanium OP after giving effect to the Partnership Merger agrees to deliver to Silver in connection with the Closing a valid, executed signature page to the Reorganized Titanium Operating Company Operating Agreement.
Joint Venture Operating Agreement or JVOA means the Preliminary Works Joint Venture Operating Agreement as amended and restated by the Condensate Stripping Plant Joint Venture Operating Agreement dated on or about the date of this document between InterOil, Mitsui and the Operator. Non-Defaulter means a Party which is not a Defaulter.
Joint Venture Operating Agreement. This Joint Venture Operating Agreement (this “Agreement”) is entered into as of [ ] [—], 2009 (the “Effective Date”), by and among Caterpillar Inc., a corporation incorporated under the laws of the State of Delaware and having its principal place of business at 000 X.X. Xxxxx Xxxxxx, Peoria, Illinois 61629 (“Caterpillar”), Navistar, Inc., a corporation incorporated under the laws of the State of Delaware and having its principal place of business at 0000 Xxxxxxxx Xxxx, Xxxxxxxxxxx, Xxxxxxxx 00000 (“Navistar”) (each of Caterpillar and Navistar, a “Member” and collectively the “Members”), NC2 Global LLC, a limited liability company organized under the laws of the State of Delaware and having its principal place of business at [ ], Illinois (the “Company”) (each of Caterpillar, Navistar, and the Company, a “Party” and collectively the “Parties”).
Joint Venture Operating Agreement
