Common use of Liability for Abandonment Clause in Contracts

Liability for Abandonment. A withdrawing Party shall remain liable and obligated for its share of all net costs and obligations that in any way relate to the abandonment of Joint Operations or a sole risk project in which such withdrawing Party participated, including the legal obligations related to assignment of ownership of the licence to the Danish State. Unless otherwise agreed, such share shall be the proportion which the withdrawing Party's cumulative deliveries of CO2 up to the effective date of withdrawal bears to the aggregate cumulative deliveries of CO2 of all the Parties up to the occurrence of abandonment, and prior to withdrawal such withdrawing Party shall provide the other Parties with such security therefor as is acceptable to all such other Parties based upon the then best estimate of aggregate cumulative deliveries.

Liability for Abandonment. A withdrawing Party shall remain liable and obligated for its share of all net costs and obligations obliga- tions that in any way relate to the abandonment of Joint Operations or a sole risk project in which such withdrawing Party participated, including the legal obligations related to assignment assign- ment of ownership of the licence to the Danish State. Unless otherwise agreed, such share shall be the proportion which the withdrawing Party's cumulative deliveries of CO2 Carbon Dioxide up to the effective date of withdrawal bears to the aggregate cumulative deliveries of CO2 Carbon Dioxide of all the Parties up to the occurrence of abandonment, and prior to withdrawal such withdrawing Party shall provide the other Parties with such security therefor as is acceptable to all such other Parties based upon the then best estimate of aggregate cumulative deliveries.

Liability for Abandonment. A withdrawing Party shall remain liable and obligated for its share of all net costs and obligations that in any way relate to the abandonment of Joint Operations or a sole risk project in which such withdrawing Party participated, including the legal obligations related to assignment of ownership of the licence to the Danish State. Unless otherwise agreed, such share shall be the proportion which the withdrawing Party's cumulative deliveries liftings of CO2 Hydrocarbons up to the effective date of withdrawal bears to the aggregate cumulative deliveries liftings of CO2 Hydrocarbons of all the Parties up to the occurrence of abandonment, and prior to withdrawal such withdrawing Party shall provide the other Parties with such security therefor as is acceptable to all such other Parties based upon the then best estimate of aggregate cumulative deliveriesliftings.