(Settlement of Underinvestments). If a Non-Participating Party in a Selection AFE takes, or is deemed to have taken, the steps set forth in Article 16.9 (Settlement of Underinvestments), that Party is an Underinvested Party in an amount equal to _______ percent (___%) of the amount that it would have paid had it participated in that AFE until the Underinvestment is eliminated under Article 16.9 (
(Settlement of Underinvestments). 16.5.4Non-Consent Development Operations The Hydrocarbon Recoupment amount for all Development Operations conducted as Non-Consent Operations is the Non-Participating Interest Share of the Costs of the Development Operation multiplied by _______ percent (___%).
(Settlement of Underinvestments). A Non-Participating Party shall become an Underinvested Party and become liable for settling an Underinvestment if it (a) makes a revised Election or Vote to become a Participating Party in an AFE, activity, or operation in which it originally Elected or Voted not to participate, (b) Elects to participate (i) in the Sidetracking or Deepening of a wellbore in which it did not participate to Objective Depth or (ii) in a Sidetracking or Deepening thereafter, (c) Elects to participate in a Development Plan after a Major Modification of that plan has been approved, or (d) Elects to participate in Development Operations from a subsequent Development System in which it did not participate. A Non-Participating Party in a Selection AFE, who elects to participate in the Define AFE, which follows it, shall automatically be deemed to have submitted to the Operator a written statement memorializing its subsequent Election to (a) participate in that Selection AFE, in which it originally Elected not to participate, and (b) become an Underinvested Party in regard to that AFE. A Non-Participating Party in a Define AFE, who elects to participate in the Execution AFE, which follows it, shall automatically be deemed to have submitted to the Operator a written statement memorializing its subsequent Election to (a) participate in the Define AFE in which it originally Elected not to participate and (b) become an Underinvested Party in regard to that AFE. A Non-Participating Party in a Long Lead Development System AFE, who elects to participate in the activity or operation for which the long lead item in the Long Lead Development System AFE was
(Settlement of Underinvestments). A Non-Participating Party shall become an Underinvested Party and become liable for settling an Underinvestment if it (a) makes a revised Election or Vote to become a Participating Party in an AFE, activity, or operation in which it originally 117
(Settlement of Underinvestments). Upon making a revised Election, a Non-Participating Party shall settle any underinvestment for its share of the Costs in a Non-Consent Operation by either; (a) making a Disproportionate Spending Settlement by bearing all Costs of all future operations until the underinvestment is eliminated, (i.e. one hundred percent (100%) of the Non-Participating Party's share of the Costs of the original operation) or, (b) making an immediate cash settlement to the original Participating Parties in the full amount of the underinvestment. The original Participating Parties in the Non-Consent Operation shall select the manner of eliminating the under- investment at their sole discretion as a General Matter.
