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.
Appears in 2 contracts
Samples: Joint Operating Agreement, Joint Operating Agreement
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.
Appears in 1 contract
Samples: Model Joint Operating Agreement
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.
Appears in 1 contract
Samples: Joint Operating Agreement