Common use of Percentage Interest in Sole Risk Development Clause in Contracts

Percentage Interest in Sole Risk Development. (a) In the event that less than all the Parties participate in the development of a Poten- tial Storage Site in which no sole risk drilling has been carried out, then, unless all the Parties participating in such development unanimously agree otherwise, the Per- centage Interest of each Party in such development shall be the proportion that its Percentage Interest bears to the total of the Percentage Interests of all participating Parties. (b) In the event that less than all Parties participate in a development of a Potential Storage Site in respect of which sole risk drilling has been carried out then, unless the Parties participating in such development unanimously agree otherwise: (i) if the original Sole Risk Participant in the first such sole risk drilling (or if more than one such participant, all such participants) participates in the development, then the Percentage Interest in such development of each Party which was not an original Sole Risk Party shall equal its Percentage In- terest in the Licence, and the remaining Percentage Interest in the devel- opment shall be held by the original Sole Risk Participant (if more than one, in proportion to their Percentage Interest in the Licence or in such other proportions as they may have agreed), (ii) if less than all such original Sole Risk Participants participate in the devel- opment, then the calculation under (i) above shall first be performed as though all such original Sole Risk Participants were participating. The Per- centage Interest in such development of those original Sole Risk Partici- pants who do not participate shall then be allocated to all the participating Parties, in proportion to the percentage interest obtained in such prelimi- nary calculation. Notwithstanding the above, Nordsøfonden is, however, entitled to choose to participate with the interest derived from such calculation or an interest of only twenty per cent (20%).

Percentage Interest in Sole Risk Development. (a) In the event that less than all the Parties participate in the development of a Poten- tial Potential Storage Site in which no sole risk drilling has been carried out, then, unless all the Parties participating in such development unanimously agree otherwise, the Per- centage Percentage Interest of each Party in such development shall be the proportion that its Percentage Interest bears to the total of the Percentage Interests of all participating Parties. (b) In the event that less than all Parties participate in a development of a Potential Storage Site in respect of which sole risk drilling has been carried out then, unless the Parties participating in such development unanimously agree otherwise: (i) if the original Sole Risk Participant in the first such sole risk drilling (or if more than one such participant, all such participants) participates in the development, then the Percentage Interest in such development of each Party which was not an original Sole Risk Party shall equal its Percentage In- terest Interest in the Licence, and the remaining Percentage Interest in the devel- opment development shall be held by the original Sole Risk Participant (if more than one, in proportion to their Percentage Interest in the Licence or in such other proportions as they may have agreed), (ii) if less than all such original Sole Risk Participants participate in the devel- opmentdevelopment, then the calculation under (i) above shall first be performed as though all such original Sole Risk Participants were participating. The Per- centage Percentage Interest in such development of those original Sole Risk Partici- pants Participants who do not participate shall then be allocated to all the participating Parties, in proportion to the percentage interest obtained in such prelimi- nary preliminary calculation. Notwithstanding the above, Nordsøfonden is, however, entitled to choose to participate with the interest derived from such calculation or an interest of only twenty per cent (20%)the Original State Participation Share in the area in which the development is carried out.

Percentage Interest in Sole Risk Development. (a) In the event that less than all the Parties participate in the development of a Poten- tial Potential Storage Site in which no sole risk drilling has been carried out, then, unless all the Parties participating in such development unanimously agree otherwise, the Per- centage Percentage Interest of each Party in such development shall be the proportion that its Percentage Interest bears to the total of the Percentage Interests of all participating Parties. (b) . In the event that less than all Parties participate in a development of a Potential Storage Site in respect of which sole risk drilling has been carried out then, unless the Parties participating in such development unanimously agree otherwise: (i) : if the original Sole Risk Participant in the first such sole risk drilling (or if more than one such participant, all such participants) participates in the development, then the Percentage Interest in such development of each Party which was not an original Sole Risk Party shall equal its Percentage In- terest Interest in the Licence, and the remaining Percentage Interest in the devel- opment development shall be held by the original Sole Risk Participant (if more than one, in proportion to their Percentage Interest in the Licence or in such other proportions as they may have agreed), (ii) , if less than all such original Sole Risk Participants participate in the devel- opmentdevelopment, then the calculation under (i) above shall first be performed as though all such original Sole Risk Participants were participating. The Per- centage Percentage Interest in such development of those original Sole Risk Partici- pants Participants who do not participate shall then be allocated to all the participating Parties, in proportion to the percentage interest obtained in such prelimi- nary preliminary calculation. Notwithstanding the above, Nordsøfonden is, however, entitled to choose to participate with the interest derived from such calculation or an interest of only twenty per cent (20%)the Original State Participation Share in the area in which the development is carried out.

Percentage Interest in Sole Risk Development. (a) In the event that less than all the Parties participate in the development of a Poten- tial Storage Site Discovery in which no sole risk drilling has been carried out, then, unless all the Parties participating in such development unanimously agree otherwiseother­wise, the Per- centage Percentage Interest of each Party in such development de­velopment shall be the proportion that its Percentage Interest bears to the total of the Percentage Interests of all participating Parties. (b) In the event that less than all Parties participate in a development of a Potential Storage Site Discovery in respect of which sole risk drilling has been carried out then, unless the Parties participating in such development unanimously agree otherwise: (i) if the original Sole Risk Participant in the first such sole risk drilling (or if more than one such participant, all such participants) participates in the development, then the Percentage Interest in such development of each Party which was not an original Sole Risk Party shall equal its Percentage In- terest Interest in the Licence, and the remaining Percentage Interest in the devel- opment development shall be held by the original Sole Risk Participant (if more than one, in proportion to their Percentage Interest in the Licence or in such other proportions as they may have agreed), (ii) if less than all such original Sole Risk Participants participate in the devel- opmentdevelopment, then the calculation under (i) above shall first be performed as though all such original Sole Risk Participants were participating. The Per- centage Percentage Interest in such development of those original Sole Risk Partici- pants Participants who do not participate shall then be allocated to all the participating Parties, in proportion to the percentage interest obtained in such prelimi- nary preliminary calculation. Notwithstanding the above, Nordsøfonden is, however, entitled to choose to participate with the interest derived from such calculation or an interest of only twenty per cent (20%).