Common use of Second Opportunity to Participate Clause in Contracts

Second Opportunity to Participate. If fewer than all, but one (1) or more Parties have a combined Working Interest of twenty-five percent (25%) or more, elect to participate, the proposing Party shall inform the Parties of the elections made where upon any Party originally electing not to participate may then elect to participate by notifying the proposing Party within forty-eight (48) hours after receipt of such information.

Second Opportunity to Participate. If fewer than all, but one (1) or more Parties have having a combined Working Interest of twenty-five percent (25%) or more, elect to participate, the proposing Party shall inform the Parties of the elections made where upon made, whereupon any Party originally electing not to participate may then elect to participate Participate by notifying the proposing Proposing Party within forty-eight (48) hours after receipt of such information.

Second Opportunity to Participate. If fewer than all, all but one (1) or more Parties have having a combined Working Interest of twenty-five percent twenty (2520%) or more, more elect to participate, the proposing Party Operator shall inform the Parties of the elections made where upon made, whereupon any Party originally electing not to participate may then elect to participate by notifying the proposing Party Operator within forty-eight (48) hours hours, exclusive of Saturdays, Sundays, and federal holidays, after receipt of such information. This provision shall apply only in the event that there are three (3) or more Parties to this Agreement.