Joint Operating Company definition

Joint Operating Company or “JOC” means the company to be established in the Republic of Iraq pursuant to Article 9 for taking over the conduct of Petroleum Operations in accordance with Addendum Three.
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Examples of Joint Operating Company in a sentence

  • In accordance with Article 9.7 of the Contract, when the Joint Operating Company becomes the Operator, the former Operator shall transfer to the Joint Operating Company all the accounting records relating to the Operating Account.

  • The Operator appointed in accordance with the Contract, shall have exclusive management and control of Petroleum Operations prior to the formation of the Joint Operating Company.

  • The main objective of the problem is to calculate the total circulating current in the brick.

  • PETCO and its affiliates shall provide such Joint Operating Company such personnel and technical assistance as may be reasonably required, subject to the same reimbursement terms as provided for in paragraph 3.1.2.(i) of this Contract.

  • Terms defined in the Contract shall have the same meanings for the purposes of this Heads of Charter of Joint Operating Company Agreement “Charter”).

  • The responsibilities of the Joint Operating Company shall be the management, co-ordination, implementation and conduct on behalf of Contractor of the day to day Petroleum Operations, and such other functions, as may be delegated to it from time to time by Contractor.

  • All Azerbaijani citizens hired by Contractor, the Joint Operating Company and any Sub-contractors shall be hired pursuant to a written employment contract which shall specify the hours of work required of the employee, the compensation and benefits to be paid or furnished by the employer and all other terms of employment.

  • The books and accounts of the Joint Operating Company (and any other entity as referred to above) will record all financial flows or other transactions as passing through to and being incurred by the Contractor Parties and SOCAR to the extent of its percentage participating interest under Article XXVIII in accordance with this Contract as though the Joint Operating Company (and any other such entity as referred to above) did not exist and for all purposes the amount of its Taxable Profit shall be zero (0).

  • MED Songhai owns 2.5% in AGM Gibraltar, the parent company of AGM Petroleum Ghana which has a participating interest of 68% in the Joint Operating Company.

  • Contractor shall as soon as practicable after the Effective Date form a Joint Operating Company, which may be incorporated or created outside of Azerbaijan but shall be registered in Azerbaijan in accordance with Azerbaijan law.

Related to Joint Operating Company

  • joint operation means 2 or more joint holders must authorise any withdrawal, payment or transfer from the account (including a direct debit)

  • Joint Operations means all operations necessary or proper for the development, operation, protection and maintenance of the Joint Property.

  • Joint Operating Agreement (JOA) means the operating and participating agreement between the Parties constituting the Contractor that governs their operational activities, obligations and responsibilities under this Contract,

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • independent operator means undertakings other than authorised dealers and repairers which are directly or indirectly involved in the repair and maintenance of vehicles, in particular repairers, manufacturers or distributors of repair equipment, tools or spare parts, publishers of technical information, automobile clubs, roadside assistance operators, operators offering inspection and testing services, operators offering training for installers, manufacturers and repairers of equipment for alternative fuel vehicles;

  • Operating Companies shall have the meaning specified in the recitals to this Agreement.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Development Operations means operations conducted in accordance with the Development Plan and shall include, but not be limited to the purchase, shipment or storage of equipment and materials used in developing Petroleum accumulations, the drilling, completion and testing of Development Xxxxx, the drilling and completion of Xxxxx for Gas or water injection, the laying of gathering lines, the installation of offshore platforms and installations, the installation of separators, tankages, pumps, artificial lift and other producing and injection facilities required to produce, process and transport Petroleum into main Oil storage or Gas processing facilities, either onshore or offshore, including the laying of pipelines within or outside the Contract Area, storage at Delivery Point(s), the installation of said storage or Gas processing facilities, the installation of export and loading facilities and other facilities required for the development and production of the said Petroleum accumulations and for the delivery of Crude Oil and/or Gas at the Delivery Point and also including incidental operations not specifically referred to herein but required for the most efficient and economic development and production of the said Petroleum accumulations in accordance with modern oilfield and petroleum industry practices.

  • market operator means a person or persons who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself;

  • airport operator A natural or legal person authorized to manage or operate an airport. “Airport Tax” It is the amount charged to a Passenger for the use of the airport facilities that can be collected by THE CARRIER with prior authorization, either on the ticket or at each airport, and must be paid by the Passenger. “Airway Ticket or Ticket” (GENERAL DEFINITION). It is the document issued by THE CARRIER or its Authorized Agent as written proof of the transportation agreement. The term that will be used in this Agreement is ticket.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Unit operating hour or "hour of unit operation" means an hour in which a unit combusts any fuel.

  • co-operative means a co-operative registered in terms of section 7 of Cooperatives Act, 2005 (Act No. 14 of 2005)

  • Network Operating Committee means a group made up of representatives from the Network Customer(s) and the Transmission Provider established to coordinate operating criteria and other technical considerations required for implementation of Network Integration Transmission Service under Tariff, Part III.

  • Joint Venture Company means any Subsidiary of the Company or any other Person of which 50% or less than 50% of the outstanding Voting Stock or participation is held by the Company or its Subsidiaries, whose Equity Interest is held directly or indirectly by the Company and one or more third parties that are not Affiliates of the Company for the purpose of directly or indirectly bidding new projects, including such Subsidiaries or Persons of the Company whose activities are governed by a joint venture agreement with one or more third parties that are not Affiliates of the Company.

  • economic operators means the manufacturer, the authorised representative, the importer and the distributor;

  • Market Operations Center means the equipment, facilities and personnel used by or on behalf of a Market Participant to communicate and coordinate with the Office of the Interconnection in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.

  • economic operator means any natural or legal person or public entity or group of such persons and/or entities, including any temporary association of undertakings, which offers the execution of works and/or a work, the supply of products or the provision of services on the market;

  • Farming operation means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.

  • Interconnected Entity means either the Interconnection Customer or the Interconnected Transmission Owner; Interconnected Entities shall mean both of them.

  • Account Operator means a bank or other party duly authorised to operate as an account operator pursuant to the Financial Instruments Accounts Act and through which a Bondholder has opened a Securities Account in respect of its Bonds.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Partnership Group Member means any member of the Partnership Group.

  • Pipeline means any pipe, pipes, or pipelines used for the intrastate transportation or transmission of any solid, liquid, or gaseous substance, except water.

  • Condominium Corporation means a condominium or strata corporation established under Provincial Legislation.

  • Operator means the operator of an internet website, online service, online application, or mobile application with actual knowledge that the site, service, or application is used for K–12 school purposes. Any entity that operates an internet website, online service, online application, or mobile application that has entered into a signed, written agreement with an LEA to provide a service to that LEA shall be considered an “operator” for the purposes of this section.