Use of Joint Property Sample Clauses

Use of Joint Property. Sole Risk Participants carrying out sole risk operations shall be entitled to use Joint Property for such sole risk operations unless the Operating Committee otherwise decides. The Operat- ing Committee shall also decide the terms and conditions upon which any Joint Property may be used, it being understood that the use of Joint Property shall not be unreasonably withheld and that the charges for such use shall be on a reasonable and equitable basis.
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Use of Joint Property. (a) The Sole Risk Parties may use Joint Property in connection with Petroleum produced as a result of a Sole Risk Operation, to the extent of such of the capacity of such Joint Property from time to time as is not required for Joint Operations for the Joint Account. (b) Any costs and expenses incurred by reason of such use of Joint Property shall be paid by the Sole Risk Parties. 12.27
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Use of Joint Property. (a) Subject to clause 7.2 and 7.3, the Operator may, with the approval of the Operating Committee and in accordance with Good Oilfield Practice, develop, operate, maintain, overhaul, expand and utilise JV Infrastructure for the provision of services to:
Sample 1

Related to Use of Joint Property

  • Records and Schedules of Equipment Each Borrower shall keep accurate and complete records of its Equipment, including kind, quality, quantity, cost, acquisitions and dispositions thereof, and shall submit to Agent, on such periodic basis as Agent may request, a current schedule thereof, in form satisfactory to Agent. Promptly upon request, Borrowers shall deliver to Agent evidence of their ownership or interests in any Equipment.

  • Use of Equipment mechanical failure of the equipment; negligent design or manufacture of the equipment; the provision of or the failure by the Organization to provide any warnings, directions, instructions or guidance as to the use of the equipment; failure to use or operate the equipment within my own ability.

  • Use of Words and Phrases Herein," "hereby," "hereunder," "hereof," "hereinbefore," "hereinafter" and other equivalent words refer to the Pooling and Servicing Agreement as a whole. All references herein to Articles, Sections or Subsections shall mean the corresponding Articles, Sections and Subsections in the Pooling and Servicing Agreement. The definitions set forth herein include both the singular and the plural.

  • Condition of Personal Property All tangible personal property, equipment, fixtures and inventories included within the assets of the Company or required to be used in the ordinary course of business are in good, merchantable, or in reasonable repairable condition and are suitable for the purposes for which they are used. No value in excess of applicable reserves has been given to any inventory with respect to obsolete or discontinued products. All of the inventories and equipment, including equipment leased to others, are well maintained and in good operating condition.

  • Use of Leased Premises The Lessor is leasing the Premises to the Lessee and the Lessee is hereby agreeing to lease the Premises for the following use and purpose: . Any change in use or purpose the Premises other than as described above shall be upon prior written consent of Lessor only.

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