Common use of Option of Designated Authority Clause in Contracts

Option of Designated Authority. (a) Unless the Designated Authority elects otherwise as per paragraph 7.2(b), the Contractor shall take and receive, and dispose of, in common stream with its own share and on terms no less favourable to the Designated Authority than the Contractor receives for its own share, the Designated Authority’s entire share of Petroleum.

Option of Designated Authority. (a) Unless the Designated Authority elects otherwise as per paragraph 7.2(b7.2 (b), the Contractor shall take and receive, and dispose of, in common stream with its own share and on terms no less favourable to the Designated Authority than the Contractor receives for its own share, the Designated Authority’s entire share of Petroleum.

Option of Designated Authority. (a) Unless the Designated Authority elects otherwise as per paragraph 7.2(b), the Contractor shall take and receive, and dispose of, in common stream with its own share and on terms no less favourable to the Designated Authority than the Contractor receives for its own share, the Designated Authority’s 's entire share of Petroleum.

Option of Designated Authority. (a) Unless If the Designated Authority elects otherwise as per paragraph 7.2(b)so elects, the Contractor shall take and receive, and dispose of, in common stream with its own share and on terms no less favourable to the Designated Authority than the Contractor receives for its own share, all or any part of the Designated Authority’s entire share of Petroleum. The Petroleum shall be valued as provided in Article 8.