Non-Consent Election Sample Clauses

Non-Consent Election. Promptly, but in any event within five (5) Business Days after any Credit Party’s election thereof, to withhold consent to participate in any xxxxx located on Oil and Gas Properties.
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Non-Consent Election. In the event that Seller desires to elect to not participate (non-consent) in any new well, recompletion, rework, sidetrack or other well operation proposed under applicable joint operation agreements or other Contracts with respect to the Properties and Purchaser will not agree to a non-consent election as required by Section 8.2(a)(iii), Seller may make a wellbore assignment of the Property involved to Purchaser in lieu of Seller electing not to participate; provided that Seller shall have solicited and received all necessary consents or waivers with regard to any restrictions applicable to such transfer to Purchaser.
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Non-Consent Election. Written notice of any non-consent election within five (5) Business Days after the Borrower’s or any Subsidiary’s election to withhold consent to participate in any xxxxx located on any of the Oil and Gas Properties.
Sample 1
Non-Consent Election. Promptly, but in any event within thirty (30) days after the end of each calendar month, notice to withhold consent to participate in any xxxxx located on Oil and Gas Properties delivered by any Credit Party to any other Person during such calendar month.
Sample 1
Non-Consent Election. The Company shall provide to the Trustee, and if requested by any Holder, any such Holder, promptly but in any event within thirty (30) days after the end of each calendar month, notice to withhold consent to participate in any xxxxx located on Oil and Gas Properties delivered by any Note Party to any other Person during such calendar month.
Sample 1
Non-Consent Election. AN ELECTION BY ANY PARTY NOT TO PARTICIPATE IN THE REWORKING, DRILLING, OR COMPLETION OF THE A N Y WELL(S) DRILLED IN ANY SECTION OR UNIT OF LAND COVERED BY THIS AGREEMENT, OR AN ELECTION NOT TO PARTICIPATE IN ADDITIONAL OPERATIONS ON A SECTION OR UNIT IS AN ELECTION OUT OF THE WELL(S) IN QUESTION AND ALL REMAINING UNDEVELOPED LANDS IN THE SECTION OR UNIT. THIS SHALL APPLY TO ANY AND ALL UNITS CREATED ON LAND DESCRIBED IN EXHIBIT "C" OR IN A PARTICIPATION AGREEMENT, AND TO ANY LANDS WHICH MAY BE ADDED TO THIS AGREEMENT BY AMENDMENT. THIS PENALTY SHALL APPLY TO ANY RE- WORKING, RE-DRILLING, PLUGGING BACK OR DEEPENING OF A WELL(S). SUCH OPERATIONS SHALL BE GOVERNED BY ARTICLE VI.B.2. OF THE OPERATING AGREEMENT (JOA). A SECTION OR UNIT IS DESCRIBED IN THE PARTICIPATION AGREEMENT. IN THE EVENT A HORIZONTAL WELL(S) OR HORIZONTAL REENTRY IS PROPOSED AND AN ELECTION NOT TO PARTICIPATE IS RECEIVED, THEN THE ACREAGE APPLIED TO THE HORIZONTAL WELL(S) WILL BE THE ACREAGE CONTAINED IN THE SECTION ON OR UNIT AROUND THE WELL(S). THE FOLLOWING WILL APPLY TO ALL CONSENTING AND NON-CONSENTING INTERESTS IN THE WELL(S) AND THIS STATEMENT WILL BE THE GOVERNING LANGUAGE FOR ALL INTERESTS IF CONTRARY IN AN OTHER STATEMENT OR PARAGRAPH WITHIN THIS AGREEMENT; ALL NON-CONSENTING PARTIES TO THIS AGREEMENT AND THEIR INTEREST(S) WILL BE TRANSFERRED TO THE OPERATOR. IN ADDITION, ANY PARTY TO THIS AGREEMET THAT HAS NOT MET ANY FINANCIAL OBLIGATION OR CONSENTS TO AN OPERATION BUT HAS NOT MET THEIR FINANCIAL OBLIGATION, THE OPERATOR HAS THE SOLE RIGHT AND OPTION TO DEDUCT ANY PRODUCTION PAYMENTS AND APPLY THEM TO ANY OUTSTANDING AMOUNTS OWED BY THE PARTIES INTEREST(S).
Sample 1

Related to Non-Consent Election

  • Joint Election As a condition of the Units granted hereunder, you agree to accept any liability for secondary Class 1 National Insurance Contributions (the “Employer NICs”), which may be payable by the Company or your Employer with respect to the Units and/or payment of the Units and issuance of Shares pursuant to the Units, the assignment or release of the Units for consideration, or the receipt of any other benefit in connection with the Units. Without limitation to the foregoing, you agree to make an election (the “Election”), in the form specified and/or approved for such election by HMRC, that the liability for your Employer NICs payments on any such gains shall be transferred to you to the fullest extent permitted by law. You further agree to execute such other elections as may be required between you and any successor to the Company and/or your Employer. You hereby authorize the Company and your Employer to withhold such Employer NICs by any of the means set forth in Section III of the Agreement. Failure by you to enter into an Election, withdrawal of approval of the Election by HMRC or a joint revocation of the Election by you and the Company or your Employer, as applicable, shall be grounds for the forfeiture and cancellation of the Units, without any liability to the Company or your Employer.

  • Spousal Consent If any individual Stockholder is married on the date of this Agreement, such Stockholder’s spouse shall execute and deliver to the Company a consent of spouse in the form of Exhibit B hereto (“Consent of Spouse”), effective on the date hereof. Notwithstanding the execution and delivery thereof, such consent shall not be deemed to confer or convey to the spouse any rights in such Stockholder’s Shares that do not otherwise exist by operation of law or the agreement of the parties. If any individual Stockholder should marry or remarry subsequent to the date of this Agreement, such Stockholder shall within thirty (30) days thereafter obtain his/her new spouse’s acknowledgement of and consent to the existence and binding effect of all restrictions contained in this Agreement by causing such spouse to execute and deliver a Consent of Spouse acknowledging the restrictions and obligations contained in this Agreement and agreeing and consenting to the same.

  • Waiver; Consent This Agreement may not be changed, amended, terminated, augmented, rescinded or discharged (other than in accordance with its terms), in whole or in part, except by a writing executed by the parties hereto. No waiver of any of the provisions or conditions of this Agreement or any of the rights of a party hereto shall be effective or binding unless such waiver shall be in writing and signed by the party claimed to have given or consented thereto. Except to the extent otherwise agreed in writing, no waiver of any term, condition or other provision of this Agreement, or any breach thereof shall be deemed to be a waiver of any other term, condition or provision or any breach thereof, or any subsequent breach of the same term, condition or provision, nor shall any forbearance to seek a remedy for any noncompliance or breach be deemed to be a waiver of a party’s rights and remedies with respect to such noncompliance or breach.

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • Prior Consent You will not accept for payment by Card any amount representing a deposit or partial payment for goods or services to be delivered in the future without the prior written consent of Processor. The acceptance of a Card for payment or partial payment of goods or services to be delivered in the future without prior consent will be deemed to be a breach of this Agreement and cause for immediate termination in addition to any other remedies available under the Laws or Rules.

  • Section 83(b) Election Purchaser understands that Section 83(a) of the Code, taxes as ordinary income the difference between the amount paid for the Stock and the fair market value of the Stock as of the date any restrictions on the Stock lapse. In this context, "restriction" includes the right of the Company to buy back the Stock pursuant to the Repurchase Option set forth in Section 2(a) above. Purchaser understands that Purchaser may elect to be taxed at the time the Stock is purchased, rather than when and as the Repurchase Option expires, by filing an election under Section 83(b) of the Code (an "83(b) Election") with the Internal Revenue Service in the form attached hereto as Exhibit C within thirty (30) days from the date the Stock is purchased. Even if the fair market value of the Stock at the time of the execution of this Agreement equals the amount paid for the Stock, the 83(b) Election must be made to avoid income under Section 83(a) of the Code in the future. Purchaser understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Purchaser. Purchaser further understands that an additional copy of such 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Purchaser acknowledges and understands that it is solely Purchaser's obligation and responsibility to timely file such 83(b) Election, and neither the Company nor the Company's legal or financial advisors shall have any obligation or responsibility with respect to such filing. Purchaser acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder and does not purport to be complete. Purchaser further acknowledges that the Company has directed Purchaser to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Purchaser may reside, and the tax consequences of Purchaser's death. Purchaser assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions on the Stock.

  • 83(b) Election You may make and file with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the grant of the Restricted Shares hereunder, electing to include in your gross income as of the Grant Date the Fair Market Value of the Restricted Shares as of the Grant Date. You shall promptly provide a copy of such election to the Company. If you make and file such an election, you shall make such arrangements in accordance with Section 8 as are satisfactory to the Committee to provide for the timely payment of all applicable withholding taxes.

  • Request for Notice; No Consent Required With respect to any Second Lien Loan, where required or customary in the jurisdiction in which the Mortgaged Property is located, the original lender has filed for record a request for notice of any action by the related senior lienholder, and the Seller has notified the senior lienholder in writing of the existence of the Second Lien Loan and requested notification of any action to be taken against the Mortgagor by the senior lienholder. Either (a) no consent for the Second Lien Loan is required by the holder of the related first lien or (b) such consent has been obtained and is contained in the Mortgage File;

  • Release of Claims by Holders Each Holder hereby releases the Representative for all claims arising from the Representative’s performance of its services pursuant to this Revenue Sharing Agreement, except and to the extent that a Holder can demonstrate by clear and convincing evidence that such act or omission constituted gross negligence or intentional misconduct.

  • Director Notification Obligation If the Participant is a director of the Corporation’s Malaysian Affiliate, the Participant is subject to certain notification requirements under the Malaysian Companies Act. Among these requirements is an obligation to notify the Malaysian Affiliate in writing when the Participant receives or disposes of an interest (e.g., an Award or shares) in the Corporation or any related company. Such notifications must be made within 14 days of receiving or disposing of any interest in the Corporation or any related company.

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