Common use of Transfer of Operator's Rights and Responsibilities Clause in Contracts

Transfer of Operator's Rights and Responsibilities. (a) The outgoing Operator and any successor Operator shall co- operate fully to ensure a timely and appropriate assignment and transfer of all rights and responsibilities of the Operator and all records and material pertaining thereto. This and the following Subsection shall apply mutatis mutandis in the event of the appointment of a temporary Operator to the extent necessary to ensure the continuation of the Joint Operations until the appointment of a successor Operator. (b) As soon as practicable but in any event no later than the effective date of resignation or removal of the Operator under Section 4.17, the outgoing Operator shall hand or deliver to, or relinquish custody in favour of, the successor Operator which shall be the Non- Operator selected pursuant to Section 4.17.3 above as the successor Operator or, if no such selection shall be made by such date, the Party with the largest remaining Percentage Interest, all funds relating to the Joint Account, all Joint Property, All Joint Storage Capacity and all books, records and inventories relating to the Joint Operations other than those books, records and inventories maintained by the outgoing Operator as the owner of a Percentage Interest. Upon such delivery the outgoing Operator shall be discharged from all rights and obligations as Operator but without prejudice to any rights, obligations or liabilities which accrued or which subsequently accrue in respect of the period when it acted as Operator. The outgoing Operator shall further use its reasonable endeavours to transfer to the successor Operator, effective as of the effective date of such resignation or removal, its rights as the Operator under all contracts exclusively relating to the Joint Operations and the successor Operator shall assume all obligations of the Operator thereunder. Pending such transfer and in relation to all other contracts relating to the Joint Operations (to the extent such so relate) the outgoing Operator shall hold its rights and interests as the Operator from such effective date for the account and to the order of the successor Operator and (without prejudice to any liability of the outgoing Operator arising pursuant to Section 4.3.3) the Parties shall, from such effective date, indemnify and hold harmless the outgoing Operator from all obligations thereunder. (c) As soon as practicable after the date on which the outgoing Operator is required to transfer its responsibilities as provided in Section 4.17.4 (b), the Parties shall audit the Joint Account and conduct an inventory of all Joint Property and Material charged to the Joint Account and all Joint Storage Capacity and such inventory shall be used in the return of and the accounting for the said Joint Property and Material and Joint Storage Capacity by the outgoing Operator for the purposes of the transfer of responsibilities under this Section 4.17.4. All costs and expenses incurred in connection with such audit and inventory shall be for the Joint Account.

Transfer of Operator's Rights and Responsibilities. (a) The outgoing Operator and any successor Operator shall co- co-operate fully to ensure a timely and appropriate assignment and transfer of all rights and responsibilities of the Operator and all records and material pertaining thereto. This and the following Subsection subsection shall apply mutatis mutandis in the event of the appointment of a temporary tempo- rary Operator to the extent necessary to ensure the continuation of the Joint Operations Opera- tions until the appointment of a successor Operator. (b) As soon as practicable but in any event no later than the effective date of resignation or removal of the Operator under Section 4.173.17, the outgoing Operator shall hand or deliver to, or relinquish custody in favour of, the successor Operator which shall be the Non- Non-Operator selected pursuant to Section 4.17.3 3.17.3 above as the successor Operator Opera- tor or, if no such selection shall be made by such date, the Party with the largest remaining re- maining Percentage Interest, all funds relating to the Joint Account, all Joint Property, All Joint Storage Capacity and all books, records and inventories relating to the Joint Operations other than those books, records and inventories maintained by the outgoing out- going Operator as the owner of a Percentage Interest. Upon such delivery the outgoing out- going Operator shall be discharged from all rights and obligations as Operator but without prejudice to any rights, obligations or liabilities which accrued or which subsequently sub- sequently accrue in respect of the period when it acted as Operator. The outgoing Operator shall further use its reasonable endeavours to transfer to the successor OperatorOp- erator, effective as of the effective date of such resignation or removal, its rights as the Operator under all contracts exclusively relating to the Joint Operations and the successor Operator shall assume all obligations of the Operator thereunder. Pending such transfer and in relation to all other contracts relating to the Joint Operations (to the extent such so relate) the outgoing Operator shall hold its rights and interests as the Operator from such effective date for the account and to the order of the successor succes- sor Operator and (without prejudice to any liability of the outgoing Operator arising pursuant to Section 4.3.33.3.3) the Parties shall, from such effective date, indemnify and hold harmless the outgoing Operator from all obligations thereunder. (c) As soon as practicable after the date on which the outgoing Operator is required to transfer its responsibilities as provided in Section 4.17.4 3.17.4 (b), the Parties shall audit the Joint Account and conduct an inventory of all Joint Property and Material charged to the Joint Account and all Joint Storage Capacity and Capacityand such inventory shall be used in the return of and the accounting for the said Joint Property and Material and Joint Storage Capacity by the outgoing Operator for the purposes of the transfer of responsibilities under this Section 4.17.43.17.4. All costs and expenses incurred in connection con- nection with such audit and inventory shall be for the Joint Account.

Transfer of Operator's Rights and Responsibilities. (a) The outgoing Operator and any successor Operator shall co- operate cooperate fully to ensure a timely and appropriate assignment and transfer of all rights and responsibilities of the Operator and all records and material pertaining thereto. This and the following Subsection shall apply mutatis mutandis in the event of the appointment of a temporary Operator to the extent necessary to ensure the continuation of the Joint Operations until the appointment of a successor Operator. (b) As soon as practicable but in any event no later than the effective date of resignation or removal of the Operator under Section 4.17Article 3.17, the outgoing Operator shall hand or deliver to, or relinquish custody in favour of, the successor Operator which shall be the Non- Operator selected pursuant to Section 4.17.3 above as the successor Operator or, if no such selection shall be made by such date, the Party with the largest remaining Percentage Interest, all funds relating to the Joint Account, all Joint Property, All all Joint Storage Capacity Hydrocarbons and all books, records and inventories relating to the Joint Operations other than those books, records and inventories maintained by the outgoing Operator as the owner of a Percentage Interest. Upon such delivery the outgoing Operator shall be discharged from all rights and obligations as Operator but without prejudice to any rights, obligations or liabilities which accrued or which subsequently accrue in respect of the period when it acted as Operator. The outgoing Operator shall further use its reasonable endeavours to transfer to the successor Operator, effective as of the effective date of such resignation or removal, its rights as the Operator under all contracts exclusively relating to the Joint Operations and the successor Operator shall assume all obligations of the Operator thereunderthere under. Pending such transfer and in relation to all other contracts relating to the Joint Operations (to the extent such so relate) the outgoing Operator shall hold its rights and interests as the Operator from such effective date for the account and to the order of the successor Operator and (without prejudice to any liability of the outgoing Operator arising pursuant to Section 4.3.3) the Parties shall, from such effective date, indemnify and hold harmless the outgoing Operator from all obligations thereunderArticle 3. (c) As soon as practicable after the date on which the outgoing Operator is required to transfer its responsibilities as provided in Section 4.17.4 (b), the Parties shall audit the Joint Account and conduct an inventory of all Joint Property and Material charged to the Joint Account and all Joint Storage Capacity and such inventory shall be used in the return of and the accounting for the said Joint Property and Material and Joint Storage Capacity by the outgoing Operator for the purposes of the transfer of responsibilities under this Section 4.17.4. All costs and expenses incurred in connection with such audit and inventory shall be for the Joint Account.

Transfer of Operator's Rights and Responsibilities. (a) The outgoing Operator and any successor Operator shall co- co-operate fully to ensure a timely and appropriate assignment and transfer of all rights and responsibilities of the Operator and all records and material pertaining thereto. This and the following Subsection shall apply mutatis mutandis in the event of the appointment of a temporary Operator to the extent necessary to ensure the continuation of the Joint Operations until the appointment of a successor Operator. (b) As soon as practicable but in any event no later than the effective date of resignation or removal of the Operator under Section 4.17, the outgoing Operator shall hand or deliver to, or relinquish custody in favour of, the successor Operator which shall be the Non- Non-Operator selected pursuant to Section 4.17.3 above as the successor Operator or, if no such selection shall be made by such date, the Party with the largest remaining Percentage Interest, all funds relating to the Joint Account, all Joint Property, All Joint Storage Capacity and all books, records and inventories relating to the Joint Operations other than those books, records and inventories maintained by the outgoing Operator as the owner of a Percentage Interest. Upon such delivery the outgoing Operator shall be discharged from all rights and obligations as Operator but without prejudice to any rights, obligations or liabilities which accrued or which subsequently accrue in respect of the period when it acted as Operator. The outgoing Operator shall further use its reasonable endeavours to transfer to the successor Operator, effective as of the effective date of such resignation or removal, its rights as the Operator under all contracts exclusively relating to the Joint Operations and the successor Operator shall assume all obligations of the Operator thereunder. Pending such transfer and in relation to all other contracts relating to the Joint Operations (to the extent such so relate) the outgoing Operator shall hold its rights and interests as the Operator from such effective date for the account and to the order of the successor Operator and (without prejudice to any liability of the outgoing Operator arising pursuant to Section 4.3.3) the Parties shall, from such effective date, indemnify and hold harmless the outgoing Operator from all obligations thereunder. (c) As soon as practicable after the date on which the outgoing Operator is required to transfer its responsibilities as provided in Section 4.17.4 (b), the Parties shall audit the Joint Account and conduct an inventory of all Joint Property and Material charged to the Joint Account and all Joint Storage Capacity and such inventory shall be used in the return of and the accounting for the said Joint Property and Material and Joint Storage Capacity by the outgoing Operator for the purposes of the transfer of responsibilities under this Section 4.17.4. All costs and expenses incurred in connection with such audit and inventory shall be for the Joint Account.