Resignation or Removal of Operator. Operator may resign at any time by giving one hundred eighty (180) days written notice thereof to Non-Operators. If Operator terminates its legal existence or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by Non-Operators, except the selection of a successor. Operator may be removed only for good cause. In the case of gross negligence, the Operator may be removed upon notice from either AE or VEE, regardless of the ownership interest held by the party giving notice. In all other cases, the Operator may be removed by the affirmative vote of one or more Non-Operators owning a majority interest based on ownership as shown on Exhibit “A”; such vote shall not be deemed effective until a written notice has been delivered to the Operator by a Non-Operator detailing the alleged default and Operator has failed to cure the default within thirty (30) days from its receipt of the notice or, if the default concerns an operation then being conducted, within forty-eight (48) hours of its receipt of the notice. For purposes hereof, “good cause” shall mean not only gross negligence or willful misconduct, but also the material breach of or inability to meet the standards of operation contained in Article V.A. or material failure or inability to perform its obligations under this Agreement. If VEE should sell its interest in the AMI Interests, upon such sale, AE shall have the right, in its sole discretion, to remove the Operator and to appoint a successor Operator of its choosing. Subject to Article VII.D.1., the resignation or removal of the Operator shall not become effective until 7:00 o’clock A.M. on the first day of the calendar month following the expiration of one hundred eighty (180) days after the giving of notice of resignation by Operator or action by the Non-Operators to remove Operator, unless a successor Operator has been selected and assumes the duties of Operator at an earlier date. A change of a corporate name or structure of Operator or transfer of Operator’s interest to any single subsidiary, parent or successor corporation shall not be the basis for removal of Operator.
Resignation or Removal of Operator. Operator may resign at any time by giving written notice thereof to Non-Operators. If Operator terminates its legal existence, no longer owns its interest hereunder in the Contract Area, or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any actions by Non-Operators, except the selection of a successor. Operator may be removed if it fails or refuses to carry out its duties hereunder, or becomes insolvent, bankrupt or is placed in receivership, by this affirmative vote of two (2) or more Non-Operators owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of Operator. Such resignation or removal shall not become effective until 7:00 o’clock a.m. on the first day of the calendar month following the expiration of ninety (90) days after the giving notice of resignation by Operator at an earlier date. Operator, after effective date of resignation or removal, shall be bound by the terms hereof as a Non-Operator. A change of corporate name or structure of Operator or transfer of Operator’s interest to any single subsidiary, parent or successor corporation shall not be the basis for removal of Operator.
Resignation or Removal of Operator. Operator may resign as operator and cancel this O&M Agreement at any time by giving written notice thereof to Owner on ninety (90) days prior written notice. Owner may remove Operator on thirty (30) days written notice to Operator. Upon any such removal or resignation prior to the expiration of the Term, this Agreement shall be terminated as set forth in Section 4.3.
Resignation or Removal of Operator. Operator may resign at any time by giving written notice thereof to Non-Operators. If Operator terminates its legal existence, no longer owns an interest hereunder in the Contract Area, or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by Non-Operators, except the selection of a successor. Operator may be removed only for good cause by the affirmative vote of Non-Operators owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of Operator; such vote shall not be deemed effective until a written notice has been delivered to the Operator by a Non-Operator detailing the alleged default and Operator has failed to cure the default within thirty (30) days from its receipt of the notice or, if the default concerns an operation then being conducted, within forty-eight (48) hours of its receipt of the notice. For purposes hereof, “good cause” shall mean not only gross negligence or willful misconduct but also the material breach of or inability to meet the standards of operation contained in Article V.A. or material failure or inability to perform its obligations under this agreement.
A. A.P.L. FORM 610 - MODEL FORM OPERATING AGREEMENT – 1989
Resignation or Removal of Operator. Operator may resign at any time by giving written notice thereof to the Partnership. If Operator terminates its legal existence, is no longer a Partner hereunder, or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by the Partnership, except the selection of a successor. Operator may be removed by the other Partner if Operator commits repeated and continuing acts of material breaches of material obligations of Operator hereunder and is unable or unwilling to cure such breaches following notice thereof, becomes insolvent, bankrupt or is placed in receivership. Such resignation or removal shall not become effective until 7 A.M. on the first day of the calendar month following the expiration of ninety (90) days after the giving of notice of resignation by Operator or action by such other Partner to remove Operator, unless a successor Operator has been selected and assumes the duties of Operator at an earlier date. A change of a corporate name or structure of Operator or transfer of Operator's interest to any single subsidiary, parent or successor corporation of Operator shall not be the basis for removal of Operator.
Resignation or Removal of Operator a. Operator may resign as Operator hereunder, and under the rules of the Oklahoma Corporation Commission, any time upon thirty (30) days written notice to Owner.
b. Owner may terminate Operator upon 30 days written notice at any time; provided that in the event Owner notifies Operator of termination, Operator shall not be removed until such time as a substitute Operator has filed the mandatory forms with the proper regulatory authorities to become qualified as the Operator and to remove Operator from any and all liabilities including, but not limited to, any plugging liability.
Resignation or Removal of Operator. (a) Operator may resign its duties and obligations under this Agreement at any time by giving Hesed written notice of not less than ninety (90) days. Upon resignation or termination, Operator shall immediately deliver to the new Operator (as selected by Hesed) copies of all records and information necessary for the new Operator to discharge its duties and obligations. Operator, after the effective date of removal or resignation, shall be bound by the terms hereof as a Non-Operator.
(b) Hesed shall have the right to remove the Operator and terminate this Agreement for cause (as hereinafter defined) after giving the Operator written notice of not less than ninety (90) days. For purposes of this Section 4.2(b), the term "cause" shall mean:
Resignation or Removal of Operator. Operator may resign at any time by giving one hundred eighty (180) days written notice thereof to Non-Operators. If Operator terminates its legal existence or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by Non-Operators, except the selection of a successor. Operator may be removed only for good cause. In the case of gross negligence, the Operator may be removed upon notice from Owner, such notice shall not be deemed effective until a written notice has been delivered to the Operator by Owner detailing the alleged default and Operator has failed to cure the default within thirty (30) days from its receipt of the notice or, if the default concerns an operation then being conducted, within forty-eight (48) hours of its receipt of the notice. For purposes hereof, "good cause" shall mean not only gross negligence or willful misconduct, but also the material breach of or inability to meet the standards of operation contained in this agreement or material failure or inability to perform its obligations under this Agreement.
Resignation or Removal of Operator. Operator may resign at any time by giving written notice thereof to the Non-Operator(s). If Operator terminates its legal existence, no longer owns an interest hereunder in the Contract Area, or is no longer capable of serving as Operator, Operator shall be deemed to have resigned without any action by Non-Operator(s), except the selection of a successor. Operator may be removed if it becomes insolvent, bankrupt or is placed in receivership. Such resignation or removal shall not become effective until 7:00 o’clock A.M. on the first day of the calendar month following the expiration of ninety (90) days after the giving of notice of resignation by Operator, unless a successor Operator has been selected and assumes the duties of Operator at an earlier date. Operator, after the effective date of resignation or removal, shall be bound by the terms hereof as a Non-Operator. A change of a corporate name or structure of Operator or transfer of Operator’s interest to any subsidiary, parent or successor corporation shall not be the basis for removal of Operator.
Resignation or Removal of Operator
