Common use of The Management Committee Clause in Contracts

The Management Committee. 1.1 Before the joint venture activities commence, a management committee shall be established. Each Party shall appoint one Member and one deputy Member and may at any time change such appointments. 1.2 The Member appointed by the Operator shall be chairman of the management committee. In his absence, his deputy shall act as chairman. 1.3 The management committee is the supreme body of the joint venture. Each Party shall contribute to the management and control of the joint venture activities. The management committee shall have a key role in the joint venture's strategy process focusing on goals, the choice of direction and the monitoring of the activities. The Management Committee shall ensure the balance between strategic organization, monitoring and control. The management committee shall establish guidelines for and exercise control over the Operator's activities. The management committee may issue general and specific directions for the Operator's performance of its duties. The management committee may demand that all matters concerning the joint venture activities be presented to it, and may make decisions concerning such matters. The management committee may establish sub-committees to deal with particular matters and may determine their terms of reference. Any such sub-committee shall be advisory, unless otherwise specified in this Agreement or specifically determined by the management committee. All Parties shall have the right to be represented in any sub-committee, unless otherwise specified in this Agreement. 1.4 The management committee itself shall deal with and decide matters pertaining to: a) Appointment of an auditor for the joint venture and for the Operator's activities; b) Such circumstances as referred to in Article 3.3 of the Special Provisions; c) All matters pertaining to co-operation with licensees of other licence areas; d) Claims for damages which are of importance as a matter of principle or which are of considerable economic importance; e) Any other matter being submitted for consideration by any of the Parties; f) Any other matter as specified in this Agreement; and g) Procurement and contract strategy, unless otherwise provided by this Agreement.

The Management Committee. 1.1 Before 4.1 Without undue delay after the joint venture activities commence, Agreement enters into force a management committee Management Committee shall be established. Each Party shall appoint one Member and one deputy Member and may at any time change such appointments. 1.2 4.2 The Member appointed by the Operator shall be chairman of the management committeeManagement Committee. In his absence, his deputy shall act as chairman. 1.3 4.3 The management committee Management Committee is the supreme body of the joint ventureUnit. Each Party shall contribute to the management and control of the joint venture activitiesUnit Operations. The management committee Management Committee shall have a key role in the joint venture's Unit strategy process focusing on goals, the choice of direction and the monitoring of the activities. The Management Committee shall ensure the balance between strategic organization, monitoring and control. The management committee Management Committee shall establish guidelines for and exercise control over the Operator's activities. The management committee Management Committee may issue general and specific directions for the Operator's performance of its duties. The management committee Management Committee may demand that all matters concerning the joint venture activities Unit Operations to be presented to it, and may make decisions concerning such matters. The management committee Management Committee may establish sub-committees to deal with particular matters and may determine their terms of reference. Any such sub-committee shall be advisory, unless otherwise specified in this Agreement or specifically determined by the management committeeManagement Committee. All Parties shall have the right to be represented in any sub-committee, unless otherwise specified in this Agreement. 1.4 4.4 The management committee Management Committee itself shall deal with and decide matters pertaining to: a) : Appointment of an auditor for the joint venture Joint Account and for the Operator's activities; b) ; [Such circumstances as referred to in Article 3.3 of the Special Provisions5.4; c) ] All matters pertaining to co-operation with licensees of other licence areas; d) licenses; Claims for damages which are of importance as a matter of principle or which are of considerable economic importance; e) ; Any other matter being submitted for consideration by any of the Parties; f) ; Any other matter as specified in this Agreement; and g) and Procurement and contract strategy, unless otherwise provided by this Agreement.

The Management Committee. 1.1 Before Without undue delay after the joint venture activities commence, Agreement enters into force a management committee Management Committee shall be established. Each Party shall appoint one Member and one deputy Member and may at any time change such appointments. 1.2 . The Member appointed by the Operator shall be chairman of the management committeeManagement Committee. In his absence, his deputy shall act as chairman. 1.3 . The management committee Management Committee is the supreme body of the joint ventureUnit. Each Party shall contribute to the management and control of the joint venture activitiesUnit Operations. The management committee Management Committee shall have a key role in the joint venture's Unit strategy process focusing on goals, the choice of direction and the monitoring of the activities. The Management Committee shall ensure the balance between strategic organization, monitoring and control. The management committee Management Committee shall establish guidelines for and exercise control over the Operator's activities. The management committee Management Committee may issue general and specific directions for the Operator's performance of its duties. The management committee Management Committee may demand that all matters concerning the joint venture activities Unit Operations to be presented to it, and may make decisions concerning such matters. The management committee Management Committee may establish sub-committees to deal with particular matters and may determine their terms of reference. Any such sub-committee shall be advisory, unless otherwise specified in this Agreement or specifically determined by the management committeeManagement Committee. All Parties shall have the right to be represented in any sub-committee, unless otherwise specified in this Agreement. 1.4 . The management committee Management Committee itself shall deal with and decide matters pertaining to: a) : Appointment of an auditor for the joint venture Joint Account and for the Operator's activities; b) ; [Such circumstances as referred to in Article 3.3 of the Special Provisions5.4; c) ] All matters pertaining to co-operation with licensees of other licence areas; d) licences; Claims for damages which are of importance as a matter of principle or which are of considerable economic importance; e) ; Any other matter being submitted for consideration by any of the Parties; f) ; Any other matter as specified in this Agreement; and g) and Procurement and contract strategy, unless otherwise provided by this Agreement. VOTING RULES Unless otherwise specified in this Agreement, each Member casts vote in accordance with the Unit Interest of his Party. Unless otherwise specified in this Agreement, a decision by the Management Committee is adopted when at least y of the Members representing at least x % of the Unit Interests have voted in favour of a proposal, [provided, however, that {one or more individualized company(ies)/public entity(ies)} do not constitute a quorum.] [The Manager shall not be party to information nor exercise any voting rights on decisions regarding sources of procurement to the activities. When calculating the individual Party's proportional voting right when voting over sources of procurement, the Manager's voting right shall be distributed among the other Parties in proportion to their Unit Interests so that the total voting rights in such cases are distributed as follows: X ……..% Y ……..% Z ……..% In such cases, a decision is adopted by the Management Committee when at least y' of these Parties representing at least x' % of the Unit Interest have voted in favour of the proposal.] The Management Committee shall make no decision which could render an unreasonable advantage to certain Parties or others to the detriment of other Parties or the Unit. [Special voting rule if necessary to accommodate specific needs for the individual units] [The State or the Manager may oppose a decision by the Management Committee which would not respect the conditions and requirements, specified in this Production Licence, regarding the State's depletion policies or the State's financial interests. If the Manager's Member in the Management Committee declares that an adopted decision is of a nature as described in paragraph one, such decision cannot be executed. If the matter is not brought before the Ministry within 4 weeks after the day of adoption, the decision may nevertheless be executed.] In case of changes to the Licence Interest and corresponding changes in the Unit Interest, be it a change in the number of Parties or Unit Interests, the Unit shall propose new voting rules. The voting rules are subject to the Ministry's approval. If the Unit does not submit any proposal, the Ministry may determine new voting rules for the Unit. The new voting rules shall be formulated so as to influence each Party's proportional voting right as little as possible.

The Management Committee. 1.1 Before 4.1 Without undue delay after the joint venture activities commence, Agreement enters into force a management committee Management Committee shall be established. Each Party shall appoint one Member and one deputy Member and may at any time change such appointments. 1.2 4.2 The Member appointed by the Operator shall be chairman of the management committeeManagement Committee. In his absence, his deputy shall act as chairman. 1.3 4.3 The management committee Management Committee is the supreme body of the joint ventureUnit. Each Party shall contribute to the management and control of the joint venture activitiesUnit Operations. The management committee Management Committee shall have a key role in the joint venture's Unit strategy process focusing on goals, the choice of direction and the monitoring of the activities. The Management Committee shall ensure the balance between strategic organization, monitoring and control. The management committee Management Committee shall establish guidelines for and exercise control over the Operator's activities. The management committee Management Committee may issue general and specific directions for the Operator's performance of its duties. The management committee Management Committee may demand that all matters concerning the joint venture activities Unit Operations to be presented to it, and may make decisions concerning such matters. The management committee Management Committee may establish sub-committees to deal with particular matters and may determine their terms of reference. Any such sub-sub- committee shall be advisory, unless otherwise specified in this Agreement or specifically determined by the management committeeManagement Committee. All Parties shall have the right to be represented in any sub-committee, unless otherwise specified in this Agreement. 1.4 4.4 The management committee Management Committee itself shall deal with and decide matters pertaining to: a) Appointment of an auditor for the joint venture Joint Account and for the Operator's activities; b) [Such circumstances as referred to in Article 3.3 of the Special Provisions5.4;] c) All matters pertaining to co-operation with licensees of other licence areaslicenses; d) Claims for damages which are of importance as a matter of principle or which are of considerable economic importance; e) Any other matter being submitted for consideration by any of the Parties; f) Any other matter as specified in this Agreement; and g) Procurement and contract strategy, unless otherwise provided by this Agreement.