Common use of Sale and return of Material Clause in Contracts

Sale and return of Material. The Operator shall have the right to dispose of surplus Material, but shall obtain the approval of the management committee for all dispositions of Material with an aggregate original purchase cost of NOK 5,000,000 or more. The amount may be changed by the management committee. The Operator shall be under no obligation to purchase the share of the Non-operators in new or used surplus Material.

Sale and return of Material. The Operator shall have the right to dispose of surplus Material, but shall obtain the approval of the management committee for all dispositions of Material sales with an aggregate original a total purchase cost of NOK 5,000,000 or more. The amount may be changed by the management committee. The Operator shall be under no obligation to purchase the share of the Non-operators operators' shares in new or used surplus Material.

Sale and return of Material. The Operator shall have the right to dispose of surplus Material, but shall obtain the approval of the management committee for all dispositions of Material with an aggregate original purchase cost of NOK 5,000,000 or more. The amount may be changed by the management committee. The Operator shall be under no obligation to purchase the share of the Non-operators in new or used surplus Material. When Material is returned to the Operator or Affiliated companies, the Joint Account shall be credited with the current average purchase price of new Material or the agreed price, cf.

Sale and return of Material. The Operator shall have the right to dispose of surplus Material, but shall obtain the approval of the management committee for all dispositions of Material with an aggregate original purchase cost of NOK 5,000,000 EUR 0,5 million or more. The amount may be changed by the management committee. The Operator shall be under no obligation to purchase the share of the Non-operators in new or used surplus Material.