Reversion To Pre-Pooled Interests Following Termination. Upon termination of this Agreement with respect to the Pooled Lands in accordance with Clause 9.1 or Clause 9.2 of this Head Agreement or Clause 1.14 of the Operating Procedure, and, insofar as the Title Documents remain in effect for the Pooled Lands at that time, the applicable Parties shall thereupon hold the applicable former Pooled Lands in the proportions of their respective Pre-Pooled Interests under any relevant agreement that consequently applies between them for those rights. Insofar as the Parties or their interests are different with respect to the original Pre-Pooled Interests, the distribution shall be to the applicable successors in interest with respect to the applicable Pre-Pooled Interests. Following any such termination of this Agreement, each Party shall have the right to conduct any further operations with respect to its Title Documents, subject to any such agreement that applies with respect to the applicable rights and Title Documents.
Appears in 3 contracts
Samples: Pooling Agreement, Pooling Agreement, Pooling Agreement
Reversion To Pre-Pooled Interests Following Termination. Upon termination of this Agreement with respect to the Pooled Lands in accordance with Clause 9.1 or Clause 9.2 of this Head Agreement or Clause 1.14 of the Operating Procedure, and, insofar as the Title Documents remain in effect for the Pooled Lands at that time, the applicable Parties shall thereupon hold the applicable former Pooled Lands in the proportions of their respective Pre-Pooled Interests under any relevant agreement that consequently applies between them for those rights. Insofar as the Parties or their interests are different with respect to the original Pre-Pooled Interests, the distribution shall be to the applicable successors in interest with respect to the applicable Pre-Pooled Interests. Following any such termination of this Agreement, each Party shall have the right to conduct any further operations with respect to its Title Documents, subject to any such agreement that applies with respect to the applicable rights and Title Documents.
Appears in 3 contracts
Samples: Pooling Agreement, Pooling Agreement, Pooling Agreement
