Common use of Management and Operations Clause in Contracts

Management and Operations. 4.1 To provide general administration, supervision, direction and control of all Joint Operations to be conducted under this Joint Operating Agreement, an Operating Committee shall be established, consisting of a representative and an alternate representative (who shall act in the absence of the representative), to be appointed by each of the Working Interest Owners, except as otherwise provided in the Concession Agreement. The DGPC shall appoint the Chairman of the Operating Committee who shall not have any voting rights. Each Working Interest Owner hereby vests its representative and alternate representative with full authority to represent and bind that Working Interest Owner in all matters arising under the Concession Agreement and this Joint Operating Agreement. Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners stating the name and address of its representative and alternate representative. Subject to Article 15 of the Agreement, each Working Interest Owner, may, by written notice to the other Working Interest Owners, replace its representative or any alternate at any time and such substitute shall have the same powers and duties as the person he replaces. Subject to Article 11 hereof, each representative may bring such advisers as it deems fit to any meeting of the Operating Committee. 4.2 The Operating Committee shall meet quarterly to discuss important matters, unless the Operating Committee agrees that any such meeting may be dispensed with, and once each Calendar Year for the purposes of presenting the work programme and budget referred to in Article 6 and review thereof, and shall meet at such other times as Operator or any Non-Operator may request. Notice of any Operating Committee meeting shall be given by the Operator at least fifteen (15) Days in advance of the proposed date of the meeting stating the time, place and agenda to be considered at such meeting, together with such supporting information as is practicable and the Operator's recommendations if appropriate. Notwithstanding the foregoing, when any meeting of the Operating Committee is called to consider any matter related to commerciality or the approval of a Development Plan, the notice shall be given at least twenty eight (28) Days in advance. 4.3 No decision on any matters shall be taken at any meeting of the Operating Committee unless either prior notice as provided in Article 4.2 has been given or the representatives of the Working Interest Owners unanimously agree that a matter of which a prior notice has not been given shall be dealt with at such meetings. Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners through their representatives. Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners thereof. If a Working Interest Owner does not give notice of corrections or objections within thirty (30) Days after receipt of said minutes, the same shall be deemed to have been approved. If the Operating Committee does not agree to the minutes, such minutes shall be discussed at the next meeting of the Operating Committee.

Management and Operations. 4.1 To provide general administration, supervision, direction and control of all Joint Operations to be conducted under this Joint Operating Agreement, an Operating Committee shall be established, consisting of a representative and an alternate representative (who shall act in the absence of the representative), to be appointed by each of the Working Interest Owners, except as otherwise provided in the Concession Agreement. The DGPC Operator shall appoint the Chairman chairman of the Operating Committee who shall not have any voting rights. Each Working Interest Owner hereby vests its representative and alternate representative with full authority to represent and bind that Working Interest Owner in all matters arising under the Concession Agreement and this Joint Operating Agreement. Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners stating the name and address of its representative and alternate representative. Subject to Article 15 XV of the Agreement, each Working Interest Owner, may, by written notice to the other Working Interest Owners, replace its representative or any alternate at any time and such substitute shall have the same powers and duties as the person he replaces. Subject to Article 11 hereof, each representative may bring such advisers as it deems fit to any meeting of the Operating Committee. 4.2 The Operating Committee shall meet quarterly to discuss important matters, unless the Operating Committee agrees that any such meeting may be dispensed with, and once each Calendar Year for the purposes of presenting the work programme and budget referred to in Article 6 and review thereof, and shall meet at such other times as Operator or any Non-Non- Operator may request. Notice of any Operating Committee meeting shall be given by the Operator at least fifteen (15) Days in advance of the proposed date of the meeting stating the time, place and agenda to be considered at such meeting, together with such supporting information as is practicable and the Operator's recommendations if appropriate. Notwithstanding the foregoing, when any meeting of the Operating Committee is called to consider any matter related to commerciality or the approval of a Development Plan, the notice shall be given at least twenty eight (28) Days in advance. 4.3 No decision on any matters shall be taken at any meeting of the Operating Committee unless either prior notice as provided in Article 4.2 has been given or the representatives of the Working Interest Owners unanimously agree that a matter of which a prior notice has not been given shall be dealt with at such meetings. Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners through their representatives. Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners thereof. If a Working Interest Owner does not give notice of corrections or objections within thirty (30) Days after receipt of said minutes, the same shall be deemed to have been approved. If the Operating Committee does not agree to the minutes, such minutes shall be discussed at the next meeting of the Operating Committee.

Management and Operations. 4.1 To provide general administration, supervision, direction and control of all Joint Operations to be conducted under this Joint Operating Agreement, an Operating Committee shall be established, consisting of a representative and an alternate representative (who shall act in the absence of the representative), to be appointed by each of the Working Interest Owners, except as otherwise provided in the Concession Agreement. The DGPC Operator shall appoint the Chairman chairman of the Operating Committee who shall not have any voting rights. Each Working Interest Owner hereby vests its representative and alternate representative with full authority to represent and bind that Working Interest Owner in all matters arising under the Concession Agreement and this Joint Operating Agreement. Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners stating the name and address of its representative and alternate representative. Subject to Article 15 of the Agreement, each Working Interest Owner, may, by written notice to the other Working Interest Owners, replace its representative or any alternate at any time and such substitute shall have the same powers and duties as the person he replaces. Subject to Article 11 hereof, each representative may bring such advisers as it deems fit to any meeting of the Operating Committee. 4.2 The Operating Committee shall meet quarterly to discuss important matters, unless the Operating Committee agrees that any such meeting may be dispensed with, and once each Calendar Year for the purposes of presenting the work programme and budget referred to in Article 6 and review thereof, and shall meet at such other times as Operator or any Non-Operator may request. Notice of any Operating Committee meeting shall be given by the Operator at least fifteen (15) Days in advance of the proposed date of the meeting stating the time, place and agenda to be considered at such meeting, together with such supporting information as is practicable and the Operator's recommendations if appropriate. Notwithstanding the foregoing, when any meeting of the Operating Committee is called to consider any matter related to commerciality or the approval of a Development Plan, the notice shall be given at least twenty eight (28) Days in advance. 4.3 No decision on any matters shall be taken at any meeting of the Operating Committee unless either prior notice as provided in Article 4.2 has been given or the representatives of the Working Interest Owners unanimously agree that a matter of which a prior notice has not been given shall be dealt with at such meetings. Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners through their representatives. Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners thereof. If a Working Interest Owner does not give notice of corrections or objections within thirty (30) Days after receipt of said minutes, the same shall be deemed to have been approved. If the Operating Committee does not agree to the minutes, such minutes shall be discussed at the next meeting of the Operating Committee.

Management and Operations. 4.1 To provide general administration, supervision, direction and control of all Joint Operations to be conducted under this Joint Operating Agreement, an Operating Committee shall be established, consisting of a representative and an alternate representative (who shall act in the absence of the representative), to be appointed by each of the Working Interest Owners, except as otherwise provided in the Concession Agreement. The DGPC Operator shall appoint the Chairman chairman of the Operating Committee who shall not have any voting rights. Each Working Interest Owner hereby vests its representative and alternate representative with full authority to represent and bind that Working Interest Owner in all matters arising under the Concession Agreement and this Joint Operating Agreement. Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners stating the name and address of its representative and alternate representative. Subject to Article 15 XV of the Agreement, each Working Interest Owner, may, by written notice to the other Working Interest Owners, replace its representative or any alternate at any time and such substitute shall have the same powers and duties as the person he replaces. Subject to Article 11 hereof, each representative may bring such advisers as it deems fit to any meeting of the Operating Committee. 4.2 The Operating Committee shall meet quarterly to discuss important matters, unless the Operating Committee agrees that any such meeting may be dispensed with, and once each Calendar Year for the purposes of presenting the work programme and budget referred to in Article 6 and review thereof, and shall meet at such other times as Operator or any Non-Non- Operator may request. Notice of any Operating Committee meeting shall be given by the Operator at least fifteen (15) Days in advance of the proposed date of the meeting stating the time, place and agenda to be considered at such meeting, together with such supporting information as is practicable and the Operator's recommendations if appropriate. Notwithstanding the foregoing, when any meeting of the Operating Committee is called to consider any matter related to commerciality or the approval of a Development Plan, the notice shall be given at least twenty eight (28) Days in advance. 4.3 No decision on any matters shall be taken at any meeting of the Operating Committee unless either prior notice as provided in Article 4.2 has been given or the representatives of the Working Interest Owners unanimously agree that a matter of which a prior notice has not been given shall be dealt with at such meetings. Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners through their representatives. Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners thereof. If a Working Interest Owner does not give notice of corrections or objections within thirty (30) Days after receipt of said minutes, the same shall be deemed to have been approved. If the Operating Committee does not agree to the minutes, such minutes shall be discussed at the next meeting of the Operating Committee. 4.4 The decision taken by the Operating Committee in accordance with the provisions of Article 4 shall be binding upon all Working Interest Owners. 4.5 All decisions of the Operating Committee in respect of Joint Operations under this Joint Operating Agreement shall require approval by more than seventy six percent (76% Zone III, 81% Zone II & 86% Zone I) of the total Working Interest. Each representative shall have voting rights equal to the Working Interest of his principal as set forth in Article V of the Concession Agreement. 4.6 All meetings of the Operating Committee shall be held in Pakistan unless the Working Interest Owners unanimously agree to change the venue of any such meeting. The expenses of the representatives of the Working Interest Owners incurred in attendance at meetings shall be borne by the respective Working Interest Owners and shall not be charged to the Joint Account. 4.7 Any matters requiring Operating Committee approvals shall be submitted to the Operating Committee for consideration and vote without holding a meeting, provided that such matter is submitted by notice in writing to all representatives, and to the Operator. In such event, each said representative shall, within fifteen (15) Days after notice is received, vote by giving notice of its vote to the Operator. Any Working Interest Owner that does not give notice of its vote as aforesaid, shall be deemed to have voted in favour of the matter submitted. Any proposal which thus receives approval of the Operating Committee shall be deemed to be the proposal adopted by the Working Interest Owners and the decision thus taken shall be binding on them. Operator shall report to the Working Interest Owner in writing without undue delay, the result of such vote after receipt of the votes of all Working Interest Owners and shall keep a written record thereof.

Management and Operations. 4.1 To provide general administration, supervision, direction and control of all Joint Operations to be conducted under this Joint Operating Agreement, an Operating Committee shall be established, consisting of a representative and an alternate representative (who shall act in the absence of the representative), to be appointed by each of the Working Interest OwnersOwner(s), except as otherwise provided in the Concession Agreement. The DGPC Operator shall appoint the Chairman chairman of the Operating Committee who shall not have any voting rights. Each Working Interest Owner hereby vests its representative and alternate representative with full authority to represent and bind that Working Interest Owner in all matters arising under the Concession Agreement and this Joint Operating Agreement. Each Working Interest Owner shall designate its representative and alternate representative by written notice to the other Working Interest Owners Owner(s) stating the name and address of its representative and alternate representative. Subject to Article 15 XV of the Agreement, each Working Interest Owner, may, by written notice to the other Working Interest OwnersOwner(s), replace its representative or any alternate at any time and such substitute shall have the same powers and duties as the person he replaces. Subject to Article 11 hereof, each representative may bring such advisers as it deems fit to any meeting of the Operating Committee. 4.2 The Operating Committee shall meet quarterly to discuss important matters, unless the Operating Committee agrees that any such meeting may be dispensed with, and once each Calendar Year for the purposes of presenting the work programme and budget referred to in Article 6 and review thereof, and shall meet at such other times as Operator or any Non-Operator may request. Notice of any Operating Committee meeting shall be given by the Operator at least fifteen (15) Days in advance of the proposed date of the meeting stating the time, place and agenda to be considered at such meeting, together with such supporting information as is practicable and the Operator's recommendations if appropriate. Notwithstanding the foregoing, when any meeting of the Operating Committee is called to consider any matter related to commerciality or the approval of a Development Plan, the notice shall be given at least twenty eight (28) Days in advance. 4.3 No decision on any matters shall be taken at any meeting of the Operating Committee unless either prior notice as provided in Article 4.2 has been given or the representatives of the Working Interest Owners Owner(s) unanimously agree that a matter of which a prior notice has not been given shall be dealt with at such meetings. Operator's representative shall prepare minutes covering business conducted at Operating Committee meetings, copies of which shall be made available as soon as possible but in any event within fifteen (15) Days of the date of the meeting to all the Working Interest Owners Owner(s) through their representatives. Any Working Interest Owner having any corrections or objections to the minutes shall notify the Operator, and other Working Interest Owners Owner(s) thereof. If a Working Interest Owner does not give notice of corrections or objections within thirty (30) Days after receipt of said minutes, the same shall be deemed to have been approved. If the Operating Committee does not agree to the minutes, such minutes shall be discussed at the next meeting of the Operating Committee.thirty