Common use of Unit Operating Agreement Clause in Contracts

Unit Operating Agreement. 1. Each Executive Agency shall require its Licensees to enter into a Unit Operating Agreement for the Exploration or Exploitation of a Transboundary Unit In accordance with this Agreement. 2. The Executive Agencies shall require that the Licensees submit an executed Unit Operating Agreement prior to the approval of the unitization agreement. 3. In case of a conflict between the Unit Operating Agreement and the unitization agreement, the unitization agreement shall prevail, or between the unitization agreement and this Agreement, the provisions of this Agreement shall prevail.

Unit Operating Agreement. 1. Each Executive Agency shall require its Licensees to enter into a Unit Operating Agreement for the Exploration or Exploitation of a Transboundary Unit In in accordance with this Agreement. 2. The Executive Agencies shall require that the Licensees submit an executed Unit Operating Agreement prior to the approval of the unitization agreement. 3. In case of a conflict between the Unit Operating Agreement and the unitization agreement, the unitization agreement shall prevail, or between the unitization agreement and this Agreement, the provisions of this Agreement shall prevail.