Common use of Ownership, Obligations and Liabilities Clause in Contracts

Ownership, Obligations and Liabilities. (a) Unless otherwise provided in this Agreement, all the rights and interests in and under the Permits, all Joint Property, and any Hydrocarbons produced from the Permit Area shall, subject to the terms of the Permits, be held by the Parties in proportion to their respective Participating Interests. (b) Unless otherwise provided in this Agreement, the obligations of the Parties under the Permits and all costs and liabilities incurred by Operator (or by any Party on behalf of all Parties, as set out in this Agreement) in connection with Joint Operations shall be charged to the Joint Account and all credits to the Joint Account shall be shared by the Parties, in proportion to their respective Participating Interests. (c) Subject to the provisions of the Farmin Agreement, each Party shall pay when due, in accordance with the Accounting Procedure, its share of Joint Account charges, including Cash Calls and interest, accrued under this Agreement. A Party’s payment of any charge under this Agreement shall not prejudice its right to later contest the charge. Amending Deed – Joint Operating Agreement (Beetaloo JV) 30 (d) Unless otherwise provided in this Agreement, third party liabilities incurred in connection with Joint Operations shall be borne by the Parties in accordance with their respective Participating Interests. (e) For the avoidance of doubt it is acknowledged that clauses 10 and 11 of this Agreement provides for circumstances where the rights, Entitlements, obligations (including third party obligations) of each Party in respect of certain Joint Operations may not be held or borne by each Party in accordance with its Participating Interest.

Ownership, Obligations and Liabilities. (aA) Unless otherwise provided in this Agreement, all the rights and interests in and under this Agreement and the PermitsLicence, all Joint Property, and any Hydrocarbons Petroleum produced from the Permit Contract Area shall, subject to the terms of the PermitsLicence, be held owned by the Parties in proportion to their respective Participating Interests. (bB) Unless otherwise provided in this Agreement, the obligations of the Parties under the Permits Licence and all costs liabilities and liabilities expenses incurred by the Operator (or by any Party on behalf of all Parties, as set out in this Agreement) in connection with Joint Operations shall be charged to the Joint Account and all credits to the Joint Account shall be shared by the Parties, Parties in proportion to their respective Participating Interests. (cC) Subject to the provisions of the Farmin Unless otherwise provided in this Agreement, each Party shall pay when due, in accordance with the Accounting Procedure, its Participating Interest share of Joint Account chargesexpenses, including Cash Calls and interest, accrued under pursuant to this Agreement. A Party’s payment of any charge under this Agreement shall not be without prejudice to its right to later contest the charge. Amending Deed – Joint Operating Agreement (Beetaloo JV) 30. (dD) For clarification purposes and notwithstanding anything to the contrary, all xxxxx, facilities, equipment, materials and information which were part of the Carried Obligations, shall be considered Joint Property and owned by the Parties in accordance with those Participating Interest shares as set out in Article 3.2(A). (E) Unless otherwise provided in this Agreement, third party liabilities incurred in connection with Joint Operations each Party shall be borne by obtain and provide a Security from its parent company or a corporate guarantee from an Affiliate or a financial institution acceptable to Minister, for such Party’s performance of its obligations under the Parties in accordance with their respective Participating InterestsLicence as required under Clause 5 of the Licence. (eF) For clarification purposes in relation to Joint Property, data existing and owned by [INSERT NAME OF STATE ENTERPRISE] prior to the avoidance of doubt it is acknowledged that clauses 10 Effective Date shall remain [INSERT NAME OF STATE ENTERPRISE]’s property and 11 of this Agreement provides for circumstances where the rights, Entitlements, obligations Parties (including third party obligationsother than [INSERT NAME OF STATE ENTERPRISE]) of each Party will not acquire by implication or otherwise any right in title to or licence in respect of certain Joint any such data that may be supplied by [INSERT NAME OF STATE ENTERPRISE] to the Parties for the purpose of Petroleum Operations may not be held hereunder. [INSERT NAME OF STATE ENTERPRISE] shall retain the unfettered right to sell, trade or borne by each Party in accordance with its Participating Interestdisclose such data to such persons as it deems fit.

Ownership, Obligations and Liabilities. (aA) Unless otherwise provided in this Agreement, all the rights and interests in and under this Agreement and the PermitsLicence, all Joint Property, and any Hydrocarbons Petroleum produced from the Permit Contract Area shall, subject to the terms of the PermitsLicence, be held owned by the Parties in proportion to their respective Participating Interests. (bB) Unless otherwise provided in this Agreement, the obligations of the Parties under the Permits Licence and all costs liabilities and liabilities expenses incurred by Operator (or by any Party on behalf of all Parties, as set out in this Agreement) in connection with Joint Operations shall be charged to the Joint Account and all credits to the Joint Account shall be shared by the Parties, Parties in proportion to their respective Participating Interests. (cC) Subject to the provisions of the Farmin Unless otherwise provided in this Agreement, each Party shall pay when due, in accordance with the Accounting Procedure, its Participating Interest share of Joint Account chargesexpenses, including Cash Calls and interest, accrued under pursuant to this Agreement. A Party’s payment of any charge under this Agreement shall not be without prejudice to its right to later contest the charge. Amending Deed – Joint Operating Agreement (Beetaloo JV) 30. (dD) For clarification purposes all xxxxx, facilities, equipment, materials and information which are part of the Carried Obligations, shall be considered Joint Property and owned by the Parties in accordance with those Participating Interest shares as set out in Article 3.2(A). (E) Unless otherwise provided in this Agreement, third party liabilities incurred in connection with Joint Operations each Party shall be borne by maintain a guarantee from its parent company or a corporate guarantee from an Affiliate or a financial institution acceptable to Minister, for such Party’s performance of its obligations under the Parties in accordance with their respective Participating InterestsLicence as required under Clause 5 of the Licence. (eF) For clarification purposes in relation to Joint Property, data existing and owned by State Entity prior to the avoidance of doubt it is acknowledged that clauses 10 Effective Date shall remain [ ] property and 11 of this Agreement provides for circumstances where the rights, Entitlements, obligations Parties (including third party obligationsother than State Entity) of each Party will not acquire by implication or otherwise any right in title to or licence in respect of certain Joint any such data that may be supplied by [ ] to the Parties for the purpose of Petroleum Operations may not be held hereunder. [ ] shall retain the unfettered right to sell, trade or borne by each Party in accordance with its Participating Interestdisclose such data to such persons as it deems fit.

Ownership, Obligations and Liabilities. (a) Unless otherwise provided in this Agreement, all the rights and interests in and under the PermitsPSC, all Joint Property, and any Hydrocarbons produced from the Permit Area Contract Area, shall, subject to the terms of the PermitsPSC, be held owned by the Parties in proportion to their respective Participating Interests. (b) Unless otherwise provided in this Agreement, the obligations of the Parties under the Permits PSC and all costs liabilities and liabilities expenses incurred by Operator (or by any Party on behalf of all Parties, as set out in this Agreement) in connection with Joint Operations shall be charged to the Joint Account and all credits to the Joint Account shall be shared by the Parties, in proportion to their respective Participating Interests. (c) Subject to the provisions of the Farmin Agreement, each Each Party shall pay when due, in accordance with the Accounting Procedure, its Participating Interest share of Joint Account chargesexpenses, including Cash Calls cash advances and interest, accrued under pursuant to this Agreement. A Party’s payment of any charge under this Agreement shall not be without prejudice to its right to later contest the charge. Amending Deed – Joint Operating Agreement (Beetaloo JV) 30. (d) Unless otherwise provided Each Party shall obtain and maintain Security in this Agreement, third party liabilities incurred in connection with Joint Operations favor of the Government as required under the terms of the PSC. The amount of each Party’s Security shall be borne that Party’s Participating Interest share of the total amount required under the PSC. If the Government requires that the Parties provide a single Security instrument covering one hundred percent (100%) of the secured amount under the PSC, the costs and expenses of, and any losses arising out of providing and maintaining, said Security instrument (including all costs and expenses arising out of such Security instrument and any liability that may arise thereunder or in relation thereto) will be charged to the Joint Account and shared by the Parties in accordance with based on their respective Participating Interests; and the Party providing the Security instrument on behalf of the Parties will be reimbursed out of the Joint Account as soon as reasonably practicable for the other Parties’ respective Participating Interest shares of such costs, expenses and/or losses. (e) For the avoidance of doubt it is acknowledged that clauses 10 and 11 of this Agreement provides for circumstances where the rights, Entitlements, obligations (including third party obligations) of each Party in respect of certain Joint Operations may not be held or borne by each Party in accordance with its Participating Interest.