State Participation. 8.1 The State, either through the National Petroleum Agency or any other state entity designated by the State, shall have as of the Effective Date a carried twelve and a half percent (12.5%) of the Contractor’s rights and interest under this Contract. The Contractor shall fund, bear and pay all costs, expenses and amounts due in respect of Petroleum Operations conducted pursuant to this Contract.
8.2 The entity designated by the State shall become a party to the Joint Operating Agreement in respect of its carried interest referred to in Clause 8.1.
8.3 Upon the commencement of commercial Production the Contractor shall be entitled to receive one hundred percent (100%) of Cost Oil in order to recover all costs, expenses and amounts paid in respect of Petroleum Operations pursuant to Clause 8.1 and incurred on behalf of the National Petroleum Agency or other entity designed by the State.
8.4 For the avoidance of doubt, as regarding the rights referred to in clause 8.1 the National Petroleum Agency or other entity designated by the State shall be entitled to receive twelve and a half percent (12.5%) of the Contractor's entitlement to Profit Oil as provided for in Clause 10.1(d).
8.5 The National Petroleum Agency, or other entity designated by the State, shall be entitled at any time, upon advance written notice to the Contractor, to convert its carried interest into a full working participating interest, whereupon the National Petroleum Agency, or other entity designated by the State, shall be entitled to twelve and a half percent (12.5%) of all Available Crude Oil to which the Contractor is entitled under the terms of this Contract. Upon such conversion of the carried interest, the State and the Contractor shall agree a schedule for the State to reimburse any costs, expenses and any amount incurred by the Contractor on behalf of the National Petroleum Agency or any other entity designated by the State, which terms shall not be materially more burdensome than the terms agreed for the carried period.
8.6 The terms under which the State will convert the carried interest into a full working participating interest, referred to in clause 8.5, will be defined in a separate conversion agreement.
State Participation. Each Party shall provide, on its territory, with respect to participation in privatization to the persons of the other Party, a treatment no less "favorable" than the treatment accorded to its own persons.
State Participation. The State has the right to be present for all pre-installation testing. Contractor must give the State at least fifteen (15) calendar days’ prior notice of all such testing.
State Participation. 10.1 Government or its Nominee may elect to enter into a Joint Venture Agreement with Licensee thereby allowing for State Participation for no more than twenty percent (20%) and Government shall inform Licensee of its decision in writing within 120 days of the receipt of the application for a Petroleum Production Licence. The Licensee agrees to carry the costs of Government or its Nominee through Development to Production. These costs are recoverable and will be repaid out of the Government’s or Government Nominee’s share of Cost Petroleum.
(a) For purposes of this provision the Venture Assets attributable to a Contract Area (hereinafter called the "Joint Venture Assets") are:
(i) In case of the first Petroleum Production Licence granted, the Petroleum Production Licence and any movable or immovable, tangible or intangible property wherever the same may be situated, acquired for the purpose of carrying on Joint Activities in the Contract Area subject thereto or acquired for the purpose of carrying on Petroleum Activities in the Contract Area where such property was acquired before the grant of the first Petroleum Production Licence;
(ii) In the case of a second or subsequent Petroleum Production Licence granted, that Petroleum Production Licence and any movable or immovable, tangible or intangible property acquired for the purpose of carrying on Joint Activities in that Contract Area or acquired for the purpose of carrying on Petroleum Activities or Joint Activities in the Contract Area where such property was acquired after the date on which a Production Licence was last granted and before the grant of the second or, as the case maybe the next subsequent Petroleum Production Licence.
(b) Immediately following the grant of each Petroleum Production Licence, the Licensee, or each entity comprising the Licensee at that time, will promptly take such action as may be necessary to assign to the Government or its Nominee, an undivided proportionate share in the Venture Assets equal to the Government or its Nominee's Participating Percentage Interest with effect that thereafter, the Licensee, or each such entity, shall have an interest in the Joint Venture Assets (hereinafter referred to as its "Joint Venture Interest") equal to its Participating Interest in those Assets immediately before the grant of such Petroleum Production Licence reduced by the product of that interest and the Joint Venture Interest acquired by the Nominee of the Government.
State Participation. Level of Degree: Master College Participating: College of Textiles Other Participating College(s), if applicable: N/A Full Title of Degree Conferred (Include concentration title if applicable.): Name and contact information for the primary developer of Agreement:
State Participation. 19.1 MOGE shall have the right to demand from CONTRACTOR a fifteen percent (15%) undivided interest in the total rights and obligations under this Contract and MOGE may extend up to 25% at its own discretion.
19.2 The right referred to in Section 19.1 shall lapse unless exercised by MOGE not later than three (3) months after CONTRACTOR’S notification by registered letter to MOGE of its first Discovery of Petroleum in the Contract Area, which in the judgment of CONTRACTOR after consultation with MOGE can be produced commercially. MOGE shall make its demand known to CONTRACTOR by registered letter.
19.3 CONTRACTOR shall make its offer by registered letter to MOGE within one (1) month after receipt of MOGE’s registered letter referred to in Section 19.2. CONTRACTOR’s letter shall be accompanied by a copy of this Contract and a draft operating agreement embodying the manner in which CONTRACTOR and the MOGE shall cooperate. The main principles of the draft operating agreement are contained in Annexure “F” to this Contract.
19.4 The offer by CONTRACTOR to MOGE shall be effective for a period of six (6) months. If MOGE has not accepted this offer by registered letter to CONTRACTOR within the said period, CONTRACTOR shall be released from the obligation referred to in this Section.
19.5 In the event of acceptance by MOGE of CONTRACTOR’s offer, MOGE shall be deemed to have acquired the undivided interest on the date of CONTRACTOR’s notification to MOGE referred to in Section 19.2.
19.6 For the assignment of the undivided interest in the total of the rights and obligations arising out of this Contract, the MOGE shall reimburse CONTRACTOR an amount equal to the same percentage of the sum of Operating Costs which CONTRACTOR has incurred for and on behalf of its activities in the Contract Area up to the date of CONTRACTOR’s notification to MOGE mentioned in Section 19.2, the same percentage of the Signature Bonus paid to MOGE referred to in Section 11.1 of this Contract.
19.7 At the option of MOGE the said amount shall be reimbursed:
(a) either by transfer of the said amount by MOGE within three (3) months after the date of its acceptance of CONTRACTOR’s offer referred to in Section 19.3, to CONTRACTOR’s account with the banking institution to be designated by it, in the currency in which the relevant costs have been financed; or
(b) by way of “Payment out of Production” of fifty percent (50%) of MOGE’S production entitlement under this Contract valued in the manner as...
State Participation. 8.1 The State, either through the National Petroleum Agency or any other entity designated by the State, shall have as of the Effective Date a carried fifteen percent (15%) of the Contractor's rights and interest under this Contract. The Contractor shall fund, bear and pay all costs, expenses and amounts due in respect of Petroleum Operations conducted pursuant to this Contract.
8.2 The National Petroleum Agency or other entity designated by the State shall become a party to the Joint Operating Agreement in respect of its carried interest referred to in Clause 8.1.
8.3 Upon the commencement of commercial Production the Contractor shall be entitled receive one hundred percent (100%) of Cost Oil in order to recover all costs, expenses and amounts paid in respect of Petroleum Operations pursuant to Clause 8.1 and incurred on behalf of the National Petroleum Agency or other entity designed by the State.
8.4 The National Petroleum Agency or other entity designated by the State shall be entitled to receive fifteen percent (15%) of the Contractor's entitlement to Profit Oil as provided for in Clause 10.1(d).
8.5 The National Petroleum Agency or other entity designated by the State shall be entitled, at any time, upon advance written notice to the Contractor to convert its carried interest into a full working participating interest, whereupon the National Petroleum Agency or other entity designated by the State shall be entitled to fifteen percent (15%) of all Available Crude Oil to which the Contractor is entitled under the terms of this Contract.
State Participation. In return for offerors submitted the following purchasing jurisdictions may purchase their requirements from the successful Offeror(s): Executive Department/Agencies City & County of Honolulu Department of Education (DOE) Hawaii Health Systems Corporation (HHSC) Honolulu City Council Honolulu Board of Water Supply University of Hawaii Public Charter School Commission and Schools Office of Hawaiian Affairs Honolulu Authority for Rapid Transportation County of Hawaii Hawaii County Council House of Representatives County of Hawaii-Hawaii Department of Water Supply Senate County of Maui Judiciary Maui County Council County of Maui-Department of Water Supply County of Kauai Kauai County Council County of Kauai-Department of Water
State Participation. The State, through NOCAL, shall have the right to receive a ten percent (10%) transfer of the Contractor’s interest in the Contract from the Persons then participating in the Contractor that are not wholly State-owned Persons (such NOCAL interest referred to as the “State Carried Participation” and such Persons, including their successors in interest, “Non-State Parties”). In order to exercise this right, NOCAL must give Notice of its decision to exercise such right to the Non-State Parties during the three (3) month period ending on the date on which Commercial Production begins within the Delimited Area. The Contractor shall keep NOCAL fully informed of the date on which Commercial Production from the Delimited Area is expected to begin such that NOCAL shall have at least one hundred and eighty (180) days’ Notice of such anticipated date. If NOCAL elects to receive the State Carried Participation, NOCAL and any subsequent holder thereof shall be, with respect to the State Carried Participation, a Person participating in the Contractor for all purposes of the Contract.
State Participation. (a) The Participants propose to apply to the State for the issue of a petroleum processing facilities licence under the Act under which the Joint Venture will construct and operate the Plant.
(b) The Project will be a “petroleum project” or a “gas project” as defined in the Act. Accordingly on the grant of the Licence the State will be entitled under section 165 of the Act, either directly or through a nominee, to acquire a participating interest not exceeding 22.5% in the Project (State Interest).
(c) Upon the State exercising its right to acquire the State Interest:
(i) the Participants and the State will enter into a Petroleum Agreement or Gas Agreement under the Act;
(ii) the State or its nominee must execute a Deed of Accession; and
(iii) the Participating Interests of the Participants immediately prior to the acquisition of the State’s Interest will dilute equally.
