Rights of Paying Parties Sample Clauses

Rights of Paying Parties. A Non-Defaulting Party (including without limitation the Operator in its capacity as a Party) which pays to the Operator or bears any amount payable by it under Clause 15.5 is herein called a "Paying Party" and is deemed to have advanced such amount to the Defaulting Party on the terms that it is immediately repayable and may sux xhe Defaulting Party to recover the same but without prejudice to any other rights and remedies. The amount owing by a Defaulting Party to a Paying Party shall bear interest at the Default Interest Rate from the date the Paying Party made the payment under Clause 15.5 to the date it has recovered such amount in full.
Sample 1
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Rights of Paying Parties. A Non-Defaulting Party (including without limitation the Operator in its capacity as a Party) which pays to the Operator or bears any amount payable by it under Clause 15.5 is herein called a "Paying Party" and is deemed to have advanced such amount to the Defaulting Party on the terms that it is immediately repayable and may sux xhe Defaulting Party to recover the same but without prejudice to any other rights and remedies. The amount owing by a Defaulting Party to a Paying Party shall bear interest at the Default Interest Rate from the date the Paying Party made the payment under Clause 15.5 to the date it has recovered such amount in full. 15.7 Defaulting Party's Petroleum For so long as any Unpaid Amount is not paid in full the Defaulting Party forfeits its rights to take any Petroleum produced from the Area and the Operator shall be entitled to take and receive all of the Defaulting Party's share of Petroleum produced from the Area and to sell and dispose of the same until such time as the net proceeds of sale of such Petroleum exceeds the Unpaid Amount plus interest on the Unpaid Amount at the Default Interest Rate. Such net proceeds of sale shall be distributed to the Paying Parties in proportion to the amounts paid by them pursuant to Clause 15.5 until all amounts owing by the Defaulting Party to the Paying Parties plus interest thereon at the Default Interest Rate has been paid in full and any remaining surplus of such net proceeds of sale will be distributed to the Defaulting Party. The receipt of any amounts by the Non-Defaulting Parties under this Clause 15.7 shall be without prejudice to any other rights or remedies of such Non- Defaulting Parties.
Sample 1

Related to Rights of Paying Parties

  • Rights of Parties (a) Notwithstanding any provision of this Lease to the contrary, Tenant will not, either voluntarily or by operation of law, assign, sublet, encumber, or otherwise transfer all or any part of Tenant's interest in this lease, or permit the Premises to be occupied by anyone other than Tenant, without Landlord's prior written consent, which consent shall not unreasonably be withheld in accordance with the provisions of Section 9.1. (b) No assignment (whether voluntary, involuntary or by operation of law) and no subletting shall be valid or effective without Landlord's prior written consent and, at Landlord's election, any such assignment or subletting or attempted assignment or subletting shall constitute a material default of this Lease. Landlord shall not be deemed to have given its consent to any assignment or subletting by any other course of action, including its acceptance of any name for listing in the Building directory. To the extent not prohibited by provisions of the Bankruptcy Code, 11 U.S.C. Section 101 et seq. (the "Bankruptcy Code"), including Section 365(f)(1), Tenant on behalf of itself and its creditors, administrators and assigns waives the applicability of Section 365(e) of the Bankruptcy Code unless the proposed assignee of the Trustee for the estate of the bankrupt meets Landlord's standard for consent as set forth in Section 9.1(b) of this Lease. If this Lease is assigned to any person or entity pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations to be delivered in connection with the assignment shall be delivered to Landlord, shall be and remain the exclusive property of Landlord and shall not constitute property of Tenant or of the estate of Tenant within the meaning of the Bankruptcy Code. Any person or entity to which this Lease is assigned pursuant to the provisions of the Bankruptcy Code shall be deemed to have assumed all of the obligations arising under this Lease on and after the date of the assignment, and shall upon demand execute and deliver to Landlord an instrument confirming that assumption.

  • Rights of the Holders to Receive Payment Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

  • Rights of Collection Exercise on behalf of the Lenders all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Borrower's Obligations.

  • Registration Rights of Third Parties Except as set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus, no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the Company have the right to require the Company to register any such securities of the Company under the Securities Act or to include any such securities in a registration statement to be filed by the Company.

  • Benefits of Agreement; No Third-Party Rights The provisions of this Agreement are intended solely to benefit the Member and, to the fullest extent permitted by applicable law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor shall be a third-party beneficiary of this Agreement), and the Member shall have no duty or obligation to any creditor of the Company to make any contributions or payments to the Company.

  • Rights of Third Parties A person who is not a Party to this Agreement has no right under the Contracts (Rights of Third Parties) Xxx 0000 to enforce any term of this Agreement. This clause shall not affect any right or remedy of a third party which exists or is available apart from that Act.

  • Limitations on Rights of Third Parties The provisions of this Agreement are solely for the benefit of the Seller, the Issuer, the Indenture Trustee (for the benefit of the Secured Parties) and the other Persons expressly referred to herein, and such Persons shall have the right to enforce the relevant provisions of this Agreement. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Recovery Property or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

  • CONTRACT (RIGHTS OF THIRD PARTIES ACT 1999

  • Benefits of Indenture; Third-Party Beneficiaries This Indenture and the Notes are for the benefit of and will be binding on the parties and their permitted successors and assigns. The Secured Parties, each Person with rights to payments or distributions under this Indenture and the holder of the Residual Interest will be third-party beneficiaries of this Indenture and may enforce this Indenture according to its terms. No other Person will have any right or obligation under this Indenture or the Notes.

  • Rights of Set-Off With respect to any amount that HHSC in good faith determines should be reimbursed to it or is otherwise payable to it by the MA Dual SNP pursuant to this Agreement, HHSC may deduct the entire amount owed against the charges otherwise payable or expenses owed to it under this Agreement until such time as the entire amount determined to be owed has been paid. HHSC will provide the MA Dual SNP with written notice of and supporting information concerning such offsets, and will be relieved of its obligation to make any payments to the MA Dual SNP until such time as all such amounts have been paid to HHSC.

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