Common use of Sole Risk Preparation of a Development Clause in Contracts

Sole Risk Preparation of a Development. Programme In the event the Operating Committee rejects a proposal to prepare a development Pro- gramme and Budget for a particular Storage Site and provided that any appraisal Programme approved by the Operating Committee in relation to that Storage Site has been completed or any AFE in respect of appraisal work included in an appraisal work included in an appraisal Programme has been rejected by the Operating Committee, any Party may prepare and submit a proposed development Programme and Budget for such Storage Site to the Parties and the Operating Committee shall meet and consider it as soon as practicable after its proposal.

Sole Risk Preparation of a Development. Programme In the event the Operating Committee rejects a proposal to prepare a development Pro- gramme Programme and Budget for a particular Storage Site par­ticular Deposit and provided that any appraisal Programme approved by the Operating Committee in relation to that Storage Site Deposit has been completed or any AFE in respect of appraisal work included in an appraisal work included in an appraisal Programme has been rejected by the Operating Committee, any Party may prepare and submit a proposed development Programme and Budget for such Storage Site Deposit to the Parties and the Operating Committee shall meet and consider it as soon as practicable after its proposal.

Sole Risk Preparation of a Development. Programme In the event the Operating Committee rejects a proposal to prepare a development Pro- gramme Programme and Budget for a particular Storage Site and provided that any appraisal Programme approved by the Operating Committee in relation to that Storage Site has been completed or any AFE in respect of appraisal work included in an appraisal work included in an appraisal Programme has been rejected by the Operating Committee, any Party may prepare and submit a proposed development Programme and Budget for such Storage Site to the Parties and the Operating Committee shall meet and consider it as soon as practicable after its proposal.