Sole Risk Development. (a) If a Sole Funding Party wishes to proceed with a Sole Risk Development pursuant to clause 8.3, the Sole Funding Party must pay in accordance with the Funding and Distribution Policy an amount equal to the other Owner’s Participating Share of the fair market value of the scheduled reserves and resources referred to in paragraph (b). A Sole Funding Party may not proceed with a Sole Risk Development until such time as the relevant payment has been made.
Sole Risk Development. If the Board of Directors does not approve of the implementation of Mining Operations, then either Party which is willing to undertake Mining Operations shall be permitted to do so and the Non-contributing Party shall be subject to dilution in accordance with the terms of Article 10.
Sole Risk Development. 7.5.1 In the event that a proposal is made to the Operating Committee that a development Programme and Budget should be prepared for a particular Discovery pursuant to Article 5.5 and such proposal is rejected then, provided that any appraisal programme approved by the Operating Committee and relating to that Discovery has been completed (but excluding any appraisal work included in an appraisal programme if an AFE therefore has been submitted to the Parties under Article 5.10 and the Operating Committee has voted against or failed to vote in favour of the same within the period specified by the Operator for consideration of the AFE pursuant to Article 5), any Party may give notice to the other Parties that it intends to prepare a development Programme and Budget for that Discovery. Such Party, together with such of the other Parties as within twenty-eight (28) days of such notice give counter- notice of their wish to participate therein, shall be entitled to proceed with the preparation thereof and to submit the same for approval by the Operating Committee in accordance with Article 5.
Sole Risk Development. (a) A Joint Venturer electing to undertake and contribute to the Sole Risk Proposal (Sole Risk Development Joint Venturer) is referred as undertaking a Sole Risk Development.
Sole Risk Development. 34 11.4 Required Authorizations and Parameters for Mining Operation....................................... 34 11.4.1 GEC-FGEB's Obligation to Obtain all Required Authorizations............................ 34 11.4.2 Parameters of Mining Operations........................................................ 34 11.5 Marketing of Minerals from the Joint Venture...................................................... 35 11.5.1 Marketing Policy....................................................................... 35 11.5.2 Exporting Rights....................................................................... 35 12.0 LABOUR, TRAINING OF JOINT VENTURE PERSONNEL AND TECHNOLOGY TRANSFERS ....................................................................................... 35 12.1 Labour Policy of the Joint Venture ............................................................... 35
Sole Risk Development. (A) In the event that a proposal is made to the Operating Committee that a Development Plan and budget should be prepared for a particular Discovery pursuant to Article VI and such proposal is rejected then, provided that any appraisal program approved by the Operating Committee and relating to that Discovery has been completed (but excluding any appraisal work included in an appraisal program if an AFE therefor has been submitted to the Parties and has not been approved by the Parties within fourteen (14) days after submission), any Party may give notice to the other Parties that it intends to prepare a Development Plan and budget for that Discovery. Such Party, together with such of the other Parties as within twenty-eight (28) days of such notice give counter-notice of their wish to participate therein, shall be entitled to proceed with the preparation thereof and to submit the same for approval by the Operating Committee in accordance with Article 6.1 (B) and (C).
Sole Risk Development. 8.5.1 In the event that a proposal is made to the Management Committee that a Development Programme and Budget should be prepared for a particular Discovery, and such proposal does not receive the approval of all the Parties, then, provided that any appraisal Programme approved by the Management Committee and relating to that Discovery has been completed any Party may give notice to the other Parties that it intends to prepare a Development Programme and Budget for that Discovery. Such Party together with such other Parties as within thirty (30) days of receipt of such notice give counter-notice of their wish to participate therein, shall be entitled to proceed with the preparation thereof and to submit the same for approval by the Management Committee.
Sole Risk Development. 12.5.1 In the event that a proposal is made to the Joint Operating Committee that a development Programme and Budget should be prepared for a particular Discovery, pursuant to Clause 10.1.1 and such proposal is rejected then, provided that any appraisal Programme approved by a Determination relating to that Discovery has been completed (but excluding any appraisal work included in an appraisal Programme if an AFE therefor has been submitted to the Participants under Clause 9.2 and the Joint Operating Committee has voted against or failed to vote in favour of the same within twenty-eight (28) days after submission), any Participant may give notice to the other Participants that it intends to prepare a development Programme and Budget for that Discovery. Such Participant, together with such of the other Participants as within twenty-eight (28) days of such notice give counter-notice of their wish to participate therein, shall be entitled to proceed with the preparation thereof and to submit the same for approval by a Determination in accordance with Clause 10.1.2.
