SUCCESSOR UNIT OPERATOR. Whenever the Unit Operator shall tender his or its resignation as Unit Operator or shall be removed as hereinabove provided, or a change of Unit Operator as negotiated by the working interest owners, the owners of the working interests according to their respective acreage interest in all unitized land shall, pursuant to the approval of the parties requirements of the unit operating agreement, select a successor Unit Operator. Such selection shall not become effective until:
SUCCESSOR UNIT OPERATOR. 8.1 If, prior to the establishment of a Participating Area hereunder, the Unit Operator shall resign as Operator, or shall be removed as provided in Article VII, a successor Unit Operator may be selected by vote of the more than one-half of the owners of the Working Interests in Unitized Substances, based on their respective shares, on an acreage basis, in the Unitized Land.
SUCCESSOR UNIT OPERATOR. Whenever the unit operator shatl resign as unit operator or shall be removed as hereinabove provided, (he owners ofthe working interests according to their respective acreage interests in all unitized land shall by a majority vote select a successor unit operator; provided that, ifa majority but less than seventy-five percent (75%) ofthe working interestsqualified to vote is owned . by oneparty to this agreement, a concurring vote ofsufficient additional parties, so as to constitute in the aggregate not less than seventy-five percent (75%) ofthe total working interests, shall be required to select a new operator. Such selection shall not become effective until (a) a unit operaior so selected shall accept in writing the duties and responsibilities ofunit operator, and (b) the selection shall have been approved by the Commissioner. Ifno successor unit operator is selected and qualified as herein provided, the Commissioner at his election, with notice to the Division, may declare this unit agreement terminated.
SUCCESSOR UNIT OPERATOR. 6.1 Whenever the Unit Operator tenders its resignation as Unit Operator or is removed as provided in Article V, a successor Unit Operator may be designated by (a) an affirmative vote of the owner(s) of a majority of the working interests, based on (1) their respective shares of the acreage subject to this Agreement; (2) their respective estimated volumes of oil or gas, or both, originally in place; or (3) their decision pursuant to the Unit Operating Agreements, and (b) the successor Unit Operator’s acceptance in writing of the rights and obligations of the Unit Operator. The successor Unit Operator shall file with the Regional Supervisor two executed copies of the designation of successor. However, the designation shall not become effective until approved by the Regional Supervisor.
SUCCESSOR UNIT OPERATOR. 6.1. Whenever the Unit Operator tenders its resignation as Unit Operator or is removed as provided in Article 5 of this Agreement, a successor Unit Operator may be designated as provided in the Unit Operating Agreement. The successor Unit Operator shall accept the rights and obligations of a Unit Operator in writing. The successor Unit Operator will file an executed copy of the designation of successor with the Commissioner. The designation of successor Unit Operator will not become effective until approved by the Commissioner.
SUCCESSOR UNIT OPERATOR. Whenever Unit Operator shall tender its resignation as Unit Operator or shall be removed as hereinabove provided, the Working Interest Owners, voting in the manner provided in the Unit Operating Agreement, shall select a successor Unit Operator; provided, however, that the voting interest of the outgoing Unit Operator shall not be considered for any purpose if such outgoing Unit Operator fails to vote or votes only to succeed itself. Such selection of a successor Unit Operator shall not become effective until: (a) a Unit Operator so selected shall accept in writing the duties and responsibilities of Unit Operator, and (b) the selection shall have been approved by the Commissioner and Division. If no successor Unit Operator is selected as herein provided, the Commissioner may declare this agreement terminated.
SUCCESSOR UNIT OPERATOR. Whatever the Unit Operator shall tender his or its resignation as Unit Operator or shall be removed as hereinabove provided, or a change of Unit Opoator as negotiated by the working interest owners, the owners of the working interests according to their respective acreage interest in all unitized land dial!, pursuant to the approval of the parties requirements of the unit operating agreement, select a successor Unit Operator. Such selection shall nor become effective until:
(a) a Unit Operator so selected shall accept in writing the duties and responsibilities ofUnit Operator, and
(b) tlie selection have been approved by the AO and approved by the Land Commissioner If no successor Unit Opoator is selected and qualified as herein provided, the AO and the Land Coinmissiono at their election may declare this unit agreement terminated.
SUCCESSOR UNIT OPERATOR. 7.1. A proposed successor Unit Operator will accept all rights, duties, and obligations of a Unit Operator in writing before it will be considered for approval by DNR.
SUCCESSOR UNIT OPERATOR. Whenever the Unit Operator shall tender his or its resignation as Unit Operator or shall be removed as hereinabove provided, or a change of Unit Operator is negotiated by Working Interest Owners, a successor Unit Operator shall be selected by Working Interest Owners voting according to their respective tract participation in all unitized land by a majority vote; provided, that, if a majority but less than seventy-five percent (75%) of the Working Interests qualified to vote are owned by one party to this Agreement, a concurring vote of one or more additional Working Interest Owners shall be required to select a New Operator. Such selection shall not become effective until:
SUCCESSOR UNIT OPERATOR. Whenever the Unit Operator shall tender its resignation as Unit Operator or shall be removed as hereinabove provided, the Working Interest Owners shall select a successor Unit Operator as herein provided. Such selection shall not become effective until (a) a Unit Operator so selected shall accept in writing the duties and responsibilities of Unit Operator, and (b) the selection shall have been approved by the Land Commissioner and the A.O. If no successor Unit Operator or Unit Manager is selected and qualified as herein provided, the Land Commissioner and/or the A.O., at their election, may declare this Agreement terminated. In selecting a successor Unit Operator, the affirmative vote of three or more Working Interest Owners having a total of sixty-five percent (65%) or more of the total Unit Participation shall prevail; provided that if any one Working Interest Owner has a Unit Participation of more than thirty- five percent (35%), its negative vote or failure to vote shall not be regarded as sufficient unless supported by the vote of one or more other Working Interest Owners having a total Unit Participation of at least five percent (5%). If the Unit Operator who is removed votes only to succeed itself or fails to vote, the successor Unit Operator may be selected by the affirmative vote of the owners of at least seventy-five percent (75%) of the Unit Participation remaining after excluding the Unit Participation of Unit Operator so removed.
