OPERATIONS FROM NON-CONSENT PLATFORMS. A Party which did not originally participate in a Platform shall be a Non-Participating Party as to ail xxxxx and operations from such Platform and shall be subject to the provisions of Article 13.2. Reversion shall occur only after the original Participating Parties have recouped the sum set forth in Article 13.2.1 for the Platform and the Non-Consent Operations thereon, provided, however, that such Non-Participating Party shall have the right at any time to pay to the Participating Parties in such Platform an amount, in cash, equal to said Non-Participating Party's Share of the unrecovered balance of the recoupment account attributable to such Platform under Section 13.2.1.(c) and thereby become a Participating Party with regard to such Platform and subsequent operations therefrom.
Appears in 2 contracts
Samples: Letter Agreement, Joint Operating Agreement (West Texas Resources, Inc.)
OPERATIONS FROM NON-CONSENT PLATFORMS. A Party which did not originally participate in a Platform shall be a Non-Participating Party as to ail xxxxx and all operations from such Platform and shall be subject to the provisions of Article 13.2Section 12.2 above. Reversion shall occur only after the original Participating Parties have recouped the sum set forth in Article 13.2.1 said Section 12.2 for the Platform and the Non-Consent Operations thereon, ; provided, however, that such Non-Participating Party shall have the right at any time to pay to the Participating Parties in such Platform an amount, in cash, equal to said Non-Participating Party's Share share of the unrecovered balance of the recoupment account attributable to such Platform under Section 13.2.1.(c) 12.2 and thereby become a Participating Party with regard to such Platform and subsequent operations therefrom.
Appears in 2 contracts
Samples: Offshore Operating Agreement (Ridgewood Enengy K Fund LLC), Offshore Operating Agreement (Ridgewood Energy L Fund LLC)