Common use of Percentage Interests of the Participants in an Extension Clause in Contracts

Percentage Interests of the Participants in an Extension. If less than all Parties participate in an application for an extension of the Licence in accordance with Article 5.3.2 and unless otherwise unanimously agreed by the participating Parties the Percentage Interest of each participating Party 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

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Percentage Interests of the Participants in an Extension. If less than all Parties participate in an application for an extension of the Licence in accordance with Article 5.3.2 Sections 6.3.1 or 6.3.2 and unless otherwise unanimously agreed by the participating Parties the Percentage Interest percentage interest of each participating Party 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

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