Review and Approval of Proposed Programs and Budgets Sample Clauses

Review and Approval of Proposed Programs and Budgets. Within 45 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: a) Notice that the Participant approves the proposed Program and Budget; or b) Proposed modifications of the proposed Program and Budget; or c) Notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Operator's proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to Section 9.4(b) or (c), then the Management Committee shall seek to develop a Program and Budget acceptable to the Participants.

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: notice that the Participant approves the proposed Program and Budget; or proposed modifications of the proposed Program and Budget; or notice that the Participant rejects the proposed Program and Budget.

Review and Approval of Proposed Programs and Budgets. Within 30 days of the submission of a proposed Program and Budget by the Operator to the other Participant, the Operator shall call a meeting of the Management Committee to consider the same. The Management Committee shall adopt the Program and Budget, with such modifications, if any, as it deems necessary, or reject the same and require a new submission from the Operator.

Review and Approval of Proposed Programs and Budgets. The Management Committee shall meet within 30 days after the submission of a proposed Program and Budget to review and propose modifications, if any, to the proposed Program and Budget. The Management Committee shall vote on the approval of any final Program and Budget.

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: (a) notice that the Participant approves the proposed Program and Budget; or (b) proposed modifications of the proposed Program and Budget; or (c) notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time the Operator shall give the party notice that reply is required and if response is not forthcoming within 15 days of delivery of such second notice the failure shall be deemed to be an approval by the Participant of the Operator's proposed Program and Budget and if, upon another 15 days of notice by the Operator to such Participant that the Program is approved and the said Participant must respond that it will consider providing its Proportionate Share, such Participant does not respond then it will be deemed to have elected not to participate. If a Participant makes a timely submission to the Management Committee pursuant to paragraph 9.3(b) or (c), then the Management Committee shall seek, in a bona fide attempt, to develop a Program and Budget acceptable to the Participants otherwise it shall initiate the provisions of subsection 7.5.

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: (a) notice that the Participant approves the proposed Program and Budget; or (b) proposed modifications of the proposed Program and Budget; or (c) notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Operator's proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to section 8.4(b) or (c), then the Management Committee shall meet to consider and develop a Program and Budget acceptable to the Participants. If the Management Committee does not unanimously approve a proposed Program and Budget within 30 days after the Operator's receipt of a notice pursuant to section 8.4(b) or (c), a proposed Program and Budget may be approved by a majority vote of the Management Committee.

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget consisting solely of Exploration Operations, or within 60 days after submission of a proposed Program and Budget that includes Development or Mining Operations, each Participant shall submit to the Management Committee: (a) Notice that the Participant approves the proposed Program and Budget; or (b) Proposed modifications of the proposed Program and Budget. (c) Notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give either of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Manager’s proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to Section 9.4(b), then the Management Committee shall seek, for a period of one month in the case of an Exploration Program and Budget and for a period of two months in the case of a Development or Mining Program and Budget, to develop a Program and Budget acceptable to the Participants. At the end of such period, the Management Committee shall vote on any revised Program and Budget developed pursuant to the preceding sentence or, failing agreement by the Participants on a revised Program and Budget, shall vote on the original Program and Budget submitted by the Manager.

Review and Approval of Proposed Programs and Budgets. Within thirty (30) days after submission of a proposed Program and Budget to the Management Committee, the Management Committee shall: (i) approve the proposed Program and Budget; or (ii) propose modifications of the proposed Program and Budget; or (iii) reject the proposed Program and Budget. If the Management Committee makes the elections pursuant to Section 9.4 (ii) or 9.4 (iii) then the Manager will review the modifications and/or any recommendations of the Management Committee and will resubmit a Program and Budget within thirty (30) days.

Review and Approval of Proposed Programs and Budgets. 9.5 Within forty-five (45) days after submission of a proposed Program and Budget and receipt of the detailed final report of the previous Program and Budget as required by paragraph (n) of Section 8.2, each Participant shall submit to the Management Committee:

Review and Approval of Proposed Programs and Budgets. Except as set forth in Section 5.3(b), within 15 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: (a) Notice that the Participant approves the proposed Program and Budget; or (b) Proposed modifications of the proposed Program and Budget; or (c) Notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Manager's proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to Section 9.4(b) or (c), then the Management Committee shall seek to develop a Program and Budget acceptable to the Participants; provided, however, that within 10 days of the Participant's submission under this Section 9.4, the Management Committee shall call for a vote on the proposed Program and Budget and make the final determination of the Program and Budget notwithstanding the inability to accommodate an individual Participant's objections. The Manager may propose amendments ("Amendments") to the currently Adopted Program and Budget from time to time prior to incurring costs under such Amendment. In such event, the Participants shall have 30 days after the proposal of an Amendment in which to submit to the Management Committee one of the responses set forth in Section 9.4(a), (b) or (c) above (substituting Amendment for "Program and Budget" in each case). If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Manager's proposed Amendment. If a Participant makes a timely submission to the Management Committee proposing modifications to or rejecting the proposed Amendment, then the Management Committee shall seek to develop an Amendment acceptable to both Participants. If the Participants have failed to agree on an Amendment within 45 days after its proposal by the Manager, then the Participants shall continue Operations under the currently Adopted Program and Budget.