Common use of RESIGNATION OR REMOVAL OF UNIT OPERATOR Clause in Contracts

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator shall have the right to resign at any time but such resignation shall not become effective until a successor unit operator has been selected and approved in the manner provided for in Section 5 ofthis agreement. The resignation ofthe unit operator shall not release the unit operator from any liability or any default by it hereunder occurring prior to the effective date of its resignation. Unit operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a new unit operator. Such removal shall be effective upon notice thereofto the Commissioner and the Division. The resignation or removal ofthe unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking interest or other interest in unitized substances, but upon the resignation or removal ofunit operator becoming effective, such unit operator shall deliver possession ofall equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno such new unit operator is elected, to be used for the purpose ofconducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and appurtenances needed for the preservation of xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator Operator shall have the right to resign at any time prior to the establishment of unitized production or areas hereunder, but such resignation shall not become effective so as to release Unit Operator from the duties and obligations of Unit Operator and terminate Unit Operator’s rights as such for a period of six (6) months after notice of intention to resign has been served by Unit Operator on all working interest owners and the AO and the Land Commissioner and the Division, and until all xxxxx then drilled hereunder are placed in a successor unit operator has satisfactory condition for suspension or abandonment, whichever is required by the AO as to Federal lands and the Division as to State and fee lands, unless a new Unit Operator shall have been selected and approved and shall have taken over and assumed the duties and obligations of Unit Operator prior to the expiration of said period. Unit Operator shall have the right to resign in like manner and subject to like limitations as above provided at any time after a producing unit area established hereunder is in existence, but in all instances of resignation or removal, until a successor Unit Operator is selected and approved as hereinafter provided, the manner provided working interest owners shall be jointly responsible for performance of the duties of Unit Operator, and shall not later than thirty (30) days before such resignation or removal becomes effective appoint a common agent to represent them in Section 5 ofthis agreementany action to be taken hereunder. The resignation ofthe unit operator of Unit Operator shall not release the unit operator Unit Operator from any liability or for any default by it hereunder occurring prior to the effective date of its resignation. The Unit operator Operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a new unit operatorUnit Operator. Such removal shall be effective upon notice thereofto thereof to the Commissioner AO and the DivisionLand Commissioner. The resignation or removal ofthe unit operator of Unit Operator under this agreement shall not terminate his its right, title title, or interest as the owner ofa walking of a working interest or other interest in unitized substances, but upon the resignation or removal ofunit operator of Unit Operator becoming effective, such unit operator Unit Operator shall deliver possession ofall of all xxxxx, equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly newly qualified successor unit operator, Unit Operator or to the owners thereof ifno common agent, if no such new unit operator Unit Operator is selected, elected, to be used for the purpose ofconducting of conducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and equipment, or appurtenances needed for the preservation of any xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator Operator shall have the liave (he right to resign at any time dine prior to Ihe establishment of uuitized production or areas hereunder, but such resignation lesignation shall not become effective so as to release Unit Operator from die duties and obligations of Unit Operator and temiinate Unit Operator's rights as such for a period ofsix (6) months niter notice of iutention to resign lias been served by Unit Operator on all working interest ownennnd the AO. and until all xxxxx then drilled hereunder are placed iu n satisfnctoiy condition for suspension or abandonment, whichever is required by die AO ns to Federal aud Indian trust lands and unless a successor unit operator has new Unit Operator sliall have been selected and approved and shall have taken over and assumed the duties mid obligations of Unit Operator prior to the expiration of said period. Unit Operator sliall liave the right to resign iu like maimer and subject to like limitations as above provided at any time after a producing unit area established hereunder is in existeuce, but in all instances ofresignation or removal, until a successor Unit Operator is selected mid approved as hereinafter provided, the manner provided for woikiug interest owners shall be jointly responsible forperfomiance of the duties of Unit Operator, aud shall not later than thirty (30) days before such resignation or removal becomes effective appoint a common agent to represent them in Section 5 ofthis agreementany action to be taken hereunder. The resignation ofthe unit operator of Unit Operator shall not release the unit operator Unit Operator from any liability or fix any default by it hereunder occurring prior to the effective date of its resignation. The Unit operator Operator may, upon default or failure in the performance of its ofits duties or obligations hereunder, be subject to removal by the same saute percentage vote of the owners of working interests determined in like manner as herein hereiu provided for the selection of a new unit operatorUnit Operator. Such removal shall be effective upon notice thereofto the Commissioner and the DivisionAO. The resignation or removal ofthe unit operator of Unit Operator under this agreement shall not sliall uot terminate his its right, title title, or interest as the owner ofa walking owner- of a woiking interest or other interest in unitized substances, but upon the tire resignation or removal ofunit operator of Unit Operator becoming effective, such unit operator Unit Operator shall deliver possession ofall of all xxxxx, equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly tire newly qualified successor unit operator, Unit Operator or to the owners thereof ifno common agent, if no such new unit operator Unit Operator is selected, elected, to be used for the purpose ofconducting of conducting unit operations hereunder. Nothing Notlriug herein shall be construed as authorizing removal of any material, equipment and equipment, or appurtenances needed for the preservation of ofmiy xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator shall have the right to resign at any time but such resignation shall not become effective until a successor unit operator has been selected and approved in the manner provided for in Section 5 ofthis of this agreement. The resignation ofthe of the unit operator shall not release the unit operator from any liability or any default by it hereunder occurring prior to the effective date of its resignation. Unit operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a new unit operator. Such removal shall be effective upon notice thereofto thereof to the Commissioner and the Division. The resignation or removal ofthe of the unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking of a working interest or other interest in unitized substances, but upon the resignation or removal ofunit of unit operator becoming effective, such unit operator shall deliver possession ofall of all equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno if no such new unit operator is elected, to be used for the purpose ofconducting of conducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and appurtenances needed for the preservation of xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator Operator shall have the right to resign at any time pritr to the establishment of unitized production or areas hereunder, but such resignation shall not become effective so as to release Unit Operator ftren the duties and obligations of Unit Operator and laminate Unit Opoatoris rights as such for a period of six (6) mouths after notice of intention to resign has beat served by Unit Opaator on all working interest owners and the AO, and the Land Commissioner and the Division, and until all xxxxx then drilled hereunder are placed in a successor unit operator has satisfactory condition for suspension or abandonmatt, whichever is required by the AO as to Federal and Indian trust lands, and the Division as to State lands unless a new Unit Opaator shall have been selected and approved and shall have taken over and assumed the duties and obligations of Unit Operator prior to the expiration ofsaid period. Unit Operator shall have the right to resign io like manna and subject to like limitations as above provided at anytime after a producing unit area established hoeunder is in existence, but in all instances of resignation or ronoval, until a successor Unit Opaator is selected and approved as . hereinafter provided, the manner provided working interest owners shalt be jointly responsible for poforraaace of the duties of Unit Operator, and shall Dot lata than thirty (30) days before such resignation or removal becomes effective appoint a cotnmoo agojt to represent than in Section 5 ofthis agreementany action to betaken hereunder. The resignation ofthe unit operator of Unit Operator shall not release the unit operator Unit Operator from any liability or for any default by it hereunder occurring prior to the effective date xxxx of its resignation. Unit operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a new unit operator. Such removal shall be effective upon notice thereofto the Commissioner and the Division. The resignation or removal ofthe unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking interest or other interest in unitized substances, but upon the resignation or removal ofunit operator becoming effective, such unit operator shall deliver possession ofall equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno such new unit operator is elected, to be used for the purpose ofconducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and appurtenances needed for the preservation of xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator shall have the right to Operator --------------------------------------- may resign at any time by giving notice thereof to the other Parties. If Unit Operator terminates its legal existence or is no longer capable of serving as Unit Operator, Unit Operator shall be deemed to have resigned without any action by the other Parties, except the selection of a successor. Unit Operator may be removed only for good cause by the affirmative vote of Parties owning a majority interest based on ownership as shown on Exhibit "1.5" remaining after excluding the voting interest of Unit Operator and its affiliates, if any; such vote shall not be deemed effective until a written notice has been delivered to the Unit Operator by the other Parties detailing the alleged default and Unit 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 such also the material breach of or inability to meet the standards of operation contained herein or material failure or inability to perform its obligations under this agreement. 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 Unit Operator or action by the other Parties to remove Unit Operator, unless a successor unit operator Unit Operator has been selected and approved in assumes the manner provided for in Section 5 ofthis agreementduties of Unit Operator at an earlier date. The resignation ofthe unit operator A change of a corporate name or structure of Unit Operator shall not release be the unit operator from any liability or any default by it hereunder occurring prior to the effective date of its resignation. Unit operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided basis for the selection of a new unit operator. Such removal shall be effective upon notice thereofto the Commissioner and the Division. The resignation or removal ofthe unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking interest or other interest in unitized substances, but upon the resignation or removal ofunit operator becoming effective, such unit operator shall deliver possession ofall equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno such new unit operator is elected, to be used for the purpose ofconducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and appurtenances needed for the preservation of xxxxxUnit Operator.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator Operator shall have the right to resign at any time prior to the establishment of a participating area or areas hereunder, but such resignation shall not become effective so as to release Unit Operator from the duties and obligations of Unit Operator and terminate Unit Operator’s rights as such for a period of six months after notice of intention to resign has been served by Unit Operator on all working interest owners, the AO, the Land Commissioner, and until all xxxxx then drilled hereunder are placed in a successor unit operator has satisfactory condition for suspension or abandonment, whichever is required by the AO, as to Federal lands, and the Land Commissioner, as to State, unless a new Unit Operator shall have been selected and approved and shall have taken over and assumed the duties and obligations of Unit Operator prior to the expiration of said period. Unit Operator shall have the right to resign in like manner and subject to like limitations as above provided at any time after a participating area established hereunder is in existence, but in all instances of resignation or removal, until a successor Unit Operator is selected and approved as hereinafter provided, the manner provided working interest owners shall be jointly responsible for performance of the duties of unit Operator, and shall not later than 30 days before such resignation or removal becomes effective appoint a common agent to represent them in Section 5 ofthis agreementany action to be taken hereunder. The resignation ofthe unit operator of Unit Operator shall not release the unit operator Unit Operator from any liability or for any default by it hereunder occurring prior to the effective date of its resignation. The Unit operator Operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a new unit operatorUnit Operator. Such removal shall be effective upon notice thereofto thereof to the Commissioner AO and the DivisionLand Commissioner. The resignation or removal ofthe unit operator of Unit Operator under this agreement shall not terminate his its right, title title, or interest as the owner ofa walking of working interest or other interest in unitized substances, but upon the resignation or removal ofunit operator of Unit Operator becoming effective, such unit operator Unit Operator shall deliver possession ofall of all xxxxx, equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, Unit Operator or to the owners thereof ifno common agent, if no such new unit operator Unit Operator is elected, selected to be used for the purpose ofconducting of conducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any material, equipment and equipment, or appurtenances needed for the preservation of any xxxxx.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator shall have the right to resign at any time but such resignation shall not become effective until a successor unit operator has been selected and approved in the manner provided for in Section 5 S ofthis agreement. The resignation ofthe unit operator shall not release the unit operator from any liability or any default by it hereunder occurring prior to the effective date of its ofits resignation. Unit operator may, upon default or failure in the performance of its ofits duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a ofa new unit operator. Such removal shall be effective upon notice thereofto the Commissioner and the Division. The resignation or removal ofthe of the unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking working interest or other interest in unitized substances, but upon the resignation or removal ofunit operator becoming effectivebecomingeffective, such unit operator shall deliver possession ofall equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno thereofifno such new unit operator is elected, to be used for the purpose ofconducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any ofany material, equipment and appurtenances needed for the preservation of xxxxxofwells.

RESIGNATION OR REMOVAL OF UNIT OPERATOR. Unit operator shall have the right to resign at any time but such resignation shall not become effective until a successor unit operator has been selected and approved in the manner provided for in Section 5 ofthis of this agreement. The resignation ofthe of the unit operator shall not release the unit operator from any liability or any default by it hereunder occurring prior to the effective date of its resignation. Unit operator may, upon default or failure in the performance of its duties or obligations hereunder, be subject to removal by the same percentage vote of the owners of working interests determined in like manner as herein provided for the selection of a ofa new unit operator. Such removal shall be effective upon notice thereofto the Commissioner and the Division. The resignation or removal ofthe of the unit operator under this agreement shall not terminate his right, title or interest as the owner ofa walking of a working interest or other interest in unitized substances, but upon the resignation or removal ofunit of unit operator becoming effective, such unit operator shall deliver possession ofall of all equipment, materials, and appurtenances used in conducting the unit operations and owned by the working interest owners to the new duly qualified successor unit operator, or to the owners thereof ifno such new unit operator is elected, to be used for the purpose ofconducting unit operations hereunder. Nothing herein shall be construed as authorizing removal of any ofany material, equipment and appurtenances needed for the preservation of xxxxx.