Common use of Partial or Complete Withdrawal Clause in Contracts

Partial or Complete Withdrawal. Within thirty (30) Days of receipt each withdrawing Party's notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the Contract. Should all Parties give notice of withdrawal, the Parties shall proceed to abandon the Contract Area and terminate the Contract and this Agreement. If less than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract and this Agreement on the earliest possible date and execute and deliver all necessary instruments, and documents to assign their Participating Interest to the Parties which are not withdrawing, without any compensation whatsoever, in accordance with the provisions of Article 13.6.

Appears in 1 contract

Samples: International Joint Venture Operating Agreement (Abacan Resource Corp)

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Partial or Complete Withdrawal. Within thirty (30) Days of receipt of each withdrawing Party's ’s notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the Contract. Should all Parties give notice of withdrawal, the Parties shall proceed to abandon the Contract Area and terminate the Contract and this Agreement. If less than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract and this Agreement on the earliest possible date and execute and deliver all necessary instruments, instruments and documents to assign their Participating Interest to the Parties which are not withdrawing, without any compensation whatsoever, in accordance with the provisions of Article 13.6.

Appears in 1 contract

Samples: Joint Operating Agreement

Partial or Complete Withdrawal. A Within thirty (30) Days of receipt of each withdrawing Party's ’s notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the ContractLicence. Should If all Parties give notice of withdrawal, the Parties shall proceed to abandon the Contract Area and terminate the Contract Licence and this Agreement. If less fewer than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract Licence and this Agreement on the earliest possible date and execute sign and deliver all necessary instruments, instruments and documents to assign their Participating Interest to the Parties which that are not withdrawing, without any compensation whatsoever, in accordance with the provisions of under Article 13.6.

Appears in 1 contract

Samples: Joint Operating Agreement (Discovery Energy Corp.)

Partial or Complete Withdrawal. (A) Within thirty (30) Days of receipt of each withdrawing Party's notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the Contract. Should all Parties give notice of withdrawal, the Parties shall proceed to abandon the Contract Area and terminate the Contract and this Agreement. If less than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract and this Agreement on the earliest possible date and execute and deliver all necessary instruments, instruments and documents to assign their Participating Interest to the Parties which are not withdrawing, without any compensation whatsoever, in accordance with the provisions of Article 13.6.

Appears in 1 contract

Samples: International Operating Agreement (Seven Seas Petroleum Inc)

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Partial or Complete Withdrawal. Within A Subject to the provisions of this Article 13 and the Contract, within thirty (30) Days of receipt of each withdrawing Party's ’s notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the Contract. Should If all Parties give notice of withdrawal, the Parties shall proceed to abandon the Contract Area and terminate the Contract and this Agreement. If less fewer than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract and this Agreement on the earliest possible date and execute sign and deliver all necessary instruments, instruments and documents to assign their Participating Working Interest to the Parties which that are not withdrawing, without any compensation whatsoever, in accordance with the provisions of under Article 13.6.

Appears in 1 contract

Samples: Joint Operating Agreement (CAMAC Energy Inc.)

Partial or Complete Withdrawal. Within thirty (30) Days of receipt of each withdrawing Party's ’s notification, each of the other Parties may also give notice that it desires to withdraw from this Agreement and the ContractLease Agreement. Should all Parties give notice of withdrawal, the Parties shall proceed to abandon surrender the Contract Lease Area and terminate the Contract Lease Agreement and this Operating Agreement. If less than all of the Parties give such notice of withdrawal, then the withdrawing Parties shall take all steps to withdraw from the Contract Lease Agreement and this Operating Agreement on the earliest possible date and execute and deliver all necessary instruments, instruments and documents to assign their Participating Interest to the Parties which are not withdrawing, without any compensation whatsoever, in accordance with the provisions of Article 13.612.6.

Appears in 1 contract

Samples: Joint Venture & Partnership Agreement (Guskin Gold Corp.)

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