Operating Rights. 1. Each Party grants to the other Party the following rights in respect of international air services conducted by the airlines of the other Party:
a) The right to fly across its territory without landing, and
b) The right to make stops in its territory for non-traffic purposes.
2. Each Party grants to the other Party the rights hereinafter specified in this Agreement for the purpose of the operation of scheduled international air services by the other Party’s designated airlines on the routes specified in the appropriate Section of the Annex. Such services and routes are hereinafter called "the agreed services" and "the specified routes" respectively. While operating an agreed service on a specified route the airlines designated by each Party shall enjoy in addition to the rights specified in paragraph 1 of this Article and subject to the provisions of this Agreement, the right to make stops in the territory of the other Party at the points specified for that route in the Annex to this Agreement for the purpose of taking on board and disembarking passengers, baggage, cargo and mail.
3. Nothing in paragraph 2 of this Article shall be deemed to confer on the designated airlines of one Party the right of embarking, in the territory of the other Party, traffic carried for remuneration or hire and destined for another point in the territory of that Party.
4. If the designated airlines of one Party are unable to operate services on its normal routing because of armed conflict, political disturbances, or special and unusual circumstances the other Party shall make its best efforts to facilitate the continued operation of such service through appropriate rearrangements of such routes, including the grant of rights for such time as may be necessary to facilitate viable operations. This
Operating Rights. Company has all operating authority, licenses, franchises, permits, certificates, consents, rights and privileges (collectively, "Licenses") as are necessary or appropriate to the operation of its business as now conducted and as proposed to be conducted. Such Licenses are in full force and effect, no violations have been or are expected to have been recorded in respect of any such Licenses, and no proceeding is pending or threatened that could result in the revocation or limitation of any such Licenses. Company has conducted its business so as to comply in all material respects with all such Licenses.
Operating Rights. The Company has all operating authority, ---------------- licenses, franchises, permits, certificates, consents, rights and privileges as are necessary or appropriate to the operation of its business as now or as proposed to be conducted, the absence of which would have a material and adverse effect on the business of the Company ("collectively, the "Permits"). Such Permits are in full force and effect, no violations have been or are expected to have been recorded in respect of any such Permits, and no proceeding is pending or, to the Company's knowledge, threatened that could result in the revocation or limitation of any of such Permits. The Company has conducted its business so as to comply in all material respects with all such Permits.
Operating Rights. The Company has all operating authority, licenses, franchises, permits, certificates, consents, rights and privileges (collectively "Licenses") as are necessary or appropriate to the operation of its business as now conducted and as proposed to be conducted and which the failure to possess would have a material adverse effect on the assets, operations or financial condition of the Company. Such Licenses are in full force and effect, no violations have been or are expected to have been recorded in respect of any such licenses, and no proceeding is pending or, to the knowledge of the Company, threatened that could result in the revocation or limitation of any such licenses. The Company has conducted its business so as to comply in all material respects with all such Licenses.
Operating Rights. The Corporation has all operating authority, licenses, franchises, permits, certificates, consents, rights and privileges (collectively "Licenses") as are necessary or appropriate to the operation of its business as now conducted and which the failure to possess would have a material adverse effect on the assets, operations or financial condition of the Corporation. Except where any failure would not have a material adverse effect on the Corporation, such Licenses are in full force and effect, no violations have been or are expected to have been recorded in respect of any such licenses, and no proceeding is pending or, to the knowledge of the Corporation, threatened that could result in the revocation or limitation of any such licenses. The Corporation has conducted its business so as to comply in all material respects with all such Licenses.
Operating Rights. The Corporation has all operating authority, ----------------- licenses, franchises, permits, certificates, consents, rights and privileges (collectively "Authority") as are necessary or appropriate to the operation of its business as now conducted and as proposed to be conducted and which the failure to possess would have a material adverse effect on the assets, operations or financial condition of the Corporation. Such Authority are in full force and effect, no violations have been or are expected to have been recorded in respect of any such authority, and no proceeding is pending or, to the knowledge of the Corporation, threatened that could result in the revocation or limitation of any such authority. The Corporation has conducted its business so as to comply in all material respects with all such Authority.
Operating Rights. (a) Notwithstanding anything to the contrary contained in any other provision of this Security Agreement, if the Company cannot lawfully grant the Security in any agreement, right, franchise, equipment lease or sublease, Intellectual Property right or Licence in which it now or hereafter has rights (each, an “Operating Right”) because the terms of such Operating Right prohibit or restrict such Security, the Operating Right requires the consent of any person which has not been obtained or the grant of such Security in the Operating Right would contravene or is void under any applicable statute or regulation, result in a material loss and expense to the Company or (in the judgment of the Collateral Agent) materially adversely affect the Security in any material way in any other Collateral, that Operating Right shall not, to the extent it would be illegal, void, result in a material loss and expense to the Company or materially adversely affect the Security in any material way in other Collateral (each, a “Prescribed Operating Right”), be subject to the Security (save to the extent provided below) unless and until such agreements, consents, waivers and approvals as may be required to avoid such illegality, voidness, material loss and expense or material adverse effect have been obtained (“Required Approvals”). The Security shall nonetheless immediately attach to any rights of the Company arising under, by reason of, or otherwise in respect of such Prescribed Operating Right, such as the right to receive payments thereunder and all Proceeds and Replacements of the Prescribed Operating Right (“Related Rights”), (i) if and to the extent and as at the time such attachment to the Related Rights is not illegal, void, would not result in a material loss and expense to the Company or materially adversely affect the Security in any material way in any other Collateral, (ii) if such prohibition or restriction is not enforceable against third parties such as the Collateral Agent or (iii) if an Actionable Default occurs.
(b) To the extent permitted by applicable statute or regulation, the Company will hold in trust for the Beneficiaries, and provide the Beneficiaries with the benefits of, each Prescribed Operating Right and following the occurrence of an Actionable Default and while it is continuing, will enforce all Prescribed Operating Rights at the direction of the Collateral Agent for the benefit of the Beneficiaries or at the direction of such other person (includin...
Operating Rights. An undivided one hundred percent (100%) of the Operating Rights in and to OCS-G 32556, INSOFAR AND ONLY INSOFAR as OCS-G 32556 covers depths from the surface down to and including 23,499’ TVDSS. Working Interest (AT 19): 100% Net Revenue Interest (AT 19): 81.25000%
Operating Rights. An undivided one hundred percent (100%) of the Operating Rights in and to OCS-G 9614, INSOFAR AND ONLY INSOFAR as the Lease covers the northwest quarter (NW/4), and north half of northwest quarter of southwest quarter (N/2NW/4SW/4) as to depths and formations from the surface of the earth to one hundred feet (100’) below the stratigraphic equivalent depth of 12,906 feet true vertical depth as found in the OCS-G 9614 No. 2 Well (“SS 105 Operating Rights”) Working Interest (SS 105 Operating Rights): 100% Net Revenue Interest (SS 105 Operating Rights): 80.53190%
Operating Rights. Keep in full force and effect each of the certificates of convenience and necessity, licenses, permits, operating rights and operating authorizations listed on Schedule 8.19(a) and Schedule 8.19(b) attached hereto (collectively, "Rights"); provided that any of such Rights may be permitted to lapse if (i) it shall no longer be necessary to the conduct of the business of the Borrower and its Subsidiaries or (ii) the Subsidiary owning such Right shall merge into another Subsidiary of the Borrower. In the event of the lapse or termination of any such Right, the Borrower shall promptly deliver to the Administrative Agent and the Banks an updated Schedule 8.19(a) or Schedule 8.19(b), as appropriate.
