Common use of Selection of Successor Operator Clause in Contracts

Selection of Successor Operator. Upon the resignations or removal of Operator, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of two (2) of more parties owning a majority interest based on ownership as shown on Exhibit “A”; provided, however, if an Operator which has been removed falls to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of two (2) ore more parties owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of the Operator that was removed.

Selection of Successor Operator. Upon On the resignations resignation or removal of Operator, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such the successor Operator is selected. The successor Operator shall be selected by the affirmative vote of two (2) of or more parties owning a majority interest based on the ownership as shown on Exhibit “A”; provided, however, if an Operator which has been removed falls fails to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of two (2) ore or more parties owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of the Operator that was removed.

Selection of Successor Operator. Upon the resignations resignation or removal of Operator, a successor Operator shall be selected by the parties. The successor Operator shall be selected from the parties owning an interest in the Contract Area at the time such successor Operator is selected. The successor Operator shall be selected by the affirmative vote of two (2) of or more parties owning a majority interest based on ownership as shown on Exhibit “A”; provided, however, if an Operator which has been removed falls fails to vote or votes only to succeed itself, the successor Operator shall be selected by the affirmative vote of two (2) ore or more parties owning a majority interest based on ownership as shown on Exhibit “A” remaining after excluding the voting interest of the Operator that was removed.