Common use of Sole Risk Administration Clause in Contracts

Sole Risk Administration. In connection with any sole risk operations: (a) the sole risk operation will be carried out under the overall supervision and control of the Sole Risk Participant in lieu of the Operating Committee; (b) the computation of costs and expenses of the sole risk operation incurred by the Sole Risk Participant shall be made in accordance with the principles set out in the Ac- counting Procedure; (c) the Operator or the Sole Risk participant carrying out the sole risk operation shall maintain separate books, records and accounts (including bank accounts) for the sole risk operations which shall be subject to the same right of examination and audit by the Sole Risk Participants and, so long as they are entitled to elect to participate in the sole risk operations, the Non-Sole Risk Participant, as those relating to the Joint Operations; (d) the costs and expenses of the sole risk operation shall not be reflected in the state- ments and xxxxxxxx rendered by the Operator for the Joint Operations; and (e) if the Operator is carrying out a sole risk operation on behalf of a Sole Risk Partici- pant, the Operator shall be entitled to make cash calls on the Sole Risk Participants in connection with the sole risk operation and shall not use Joint Account funds or be required to use its own funds for the purpose of paying the costs and expenses of the sole risk operations; furthermore the Operator shall not be obliged to commence or, having commenced, to continue the sole risk operations unless and until the relevant Advances have been received from the Sole Risk Participants.

Sole Risk Administration. In connection with any sole risk operations: (a) the sole risk operation will be carried out under the overall supervision and control of the Sole Risk Participant in lieu of the Operating Committee; (b) the computation of costs and expenses of the sole risk operation incurred by the Sole Risk Participant shall be made in accordance with the principles set out in the Ac- counting Accounting Procedure; (c) the Operator or the Sole Risk participant carrying out the sole risk operation shall maintain separate books, records and accounts (including bank accounts) for the sole risk operations which shall be subject to the same right of examination and audit by the Sole Risk Participants and, so long as they are entitled to elect to participate in the sole risk operations, the Non-Non Sole Risk Participant, as those relating to the Joint Operations; (d) the costs and expenses of the sole risk operation shall not be reflected in the state- ments statements and xxxxxxxx rendered by the Operator for the Joint Operations; and (e) if the Operator is carrying out a sole risk operation on behalf of a Sole Risk Partici- pantParticipant, the Operator shall be entitled to make cash calls on the Sole Risk Participants in connection with the sole risk operation and shall not use Joint Account funds or be required to use its own funds for the purpose of paying the costs and expenses of the sole risk operations; furthermore the Operator shall not be obliged to commence or, having commenced, to continue the sole risk operations unless and until the relevant Advances have been received from the Sole Risk Participants.

Sole Risk Administration. In connection with any sole risk operations: (a) : the sole risk operation will be carried out under the overall supervision and control of the Sole Risk Participant in lieu of the Operating Committee; (b) ; the computation of costs and expenses of the sole risk operation incurred by the Sole Risk Participant shall be made in accordance with the principles set out in the Ac- counting Accounting Procedure; (c) ; the Operator or the Sole Risk participant carrying out the sole risk operation shall maintain separate books, records and accounts (including bank accounts) for the sole risk operations which shall be subject to the same right of examination and audit by the Sole Risk Participants and, so long as they are entitled to elect to participate in the sole risk operations, the Non-Non Sole Risk Participant, as those relating to the Joint Operations; (d) ; the costs and expenses of the sole risk operation shall not be reflected in the state- ments statements and xxxxxxxx rendered by the Operator for the Joint Operations; and (e) and if the Operator is carrying out a sole risk operation on behalf of a Sole Risk Partici- pantParticipant, the Operator shall be entitled to make cash calls on the Sole Risk Participants in connection with the sole risk operation and shall not use Joint Account funds or be required to use its own funds for the purpose of paying the costs and expenses of the sole risk operations; furthermore the Operator shall not be obliged to commence or, having commenced, to continue the sole risk operations unless and until the relevant Advances have been received from the Sole Risk Participants.

Sole Risk Administration. In connection with any sole risk operations: (a) the sole risk operation will be carried out under the overall supervision and control of the Sole Risk Participant in lieu of the Operating Committee; (b) the computation of costs and expenses of the sole risk operation incurred by the Sole Risk Participant shall be made in accordance with the principles set out in the Ac- counting Accounting Procedure; (c) the Operator or the Sole Risk participant carrying out the sole risk operation shall maintain separate books, records and accounts (including bank accounts) for the sole risk operations which shall be subject to the same right of examination and audit by the Sole Risk Participants and, so long as they are entitled to elect to participate in the sole risk operations, the Non-Sole Risk Participant, as those relating to the Joint Operations; (d) the costs and expenses of the sole risk operation shall not be reflected in the state- ments statements and xxxxxxxx rendered by the Operator for the Joint Operations; and (e) if the Operator is carrying out a sole risk operation on behalf of a Sole Risk Partici- pantParticipant, the Operator shall be entitled to make cash calls on the Sole Risk Participants in connection with the sole risk operation and shall not use Joint Account funds or be required to use its own funds for the purpose of paying the costs and expenses of the sole risk operations; furthermore the Operator shall not be obliged to commence or, having commenced, to continue the sole risk operations unless and until the relevant Advances have been received from the Sole Risk Participants.