JV Participant definition

JV Participant means a Party to this JOA who also owns a Percentage Interest share of the Joint Venture. Apex Bengara, as Operator, is a Party to this JOA but is not a JV Participant; "JV Property" has the meaning ascribed to it in Article-1.1 of the JOA, subject expressly to the provisions for Pertamina ownership of same as per the Bengara-II PSC, Section-X; "Non-Capital Costs" has the meaning ascribed to in paragraph-19 of this JV Accounting Procedure;
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JV Participant and “JV Participants” means the Gibraltar Subsidiary, Cariboo and their respective successors or assigns.
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JV Participant has the meaning set forth in the Preamble.
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Examples of JV Participant in a sentence

  • In January 2011, Equal and JV Participant agreed that the farm-out agreement was terminated prior to JV Participant filing for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code.

  • Equal is also required to reimburse JV Participant for certain amounts received as fees for access to the facilities.

  • On March 18, 2011, Equal and JV Participant agreed to a 30 day stay of proceedings on the bankruptcy court’s conclusion.

  • In March 2011, the bankruptcy court concluded that Equal retains ownership and control of the salt water disposal infrastructure and that Equal has the right to charge JV Participant for all salt water processed from the inception of each facility.

  • In April 2010, a notice of default was sent to JV Participant which accelerated the capital recovery amortization payments such that the entire receivable amount is due and payable.

  • As a result of the bankruptcy court ruling in March 2011; at December 31, 2010, property, plant and equipment was increased by $30.3 million which was offset by the eliminations of the long-term receivable of $12.5 million and joint interest billing receivable from JV Participant of $5.9 million and the recognition of deferred revenues of $1.9 million and a payable of $10.0 million due to JV Participant.

  • In December 2009 Equal delivered a notice of termination for non-performance under the terms of the farm-out agreement with JV Participant.

  • JV Participant was required to maintain a certain pace of drilling to continue its right to drill on lands owned by Equal but ceased drilling in February 2009 and had not indicated that it will be able to continue drilling with any certainty.

  • Also, during 2010, property, plant and equipment was increased by $18.2 million as the result of the bankruptcy court ruling involving the JV Participant.

  • The Agreements were approved by the U.S. Bankruptcy Court in Delaware on May 17, 2011 and as a result, the amounts related to the joint interest billing receivable from JV Participant, deferred revenues and payable to JV Participant were reversed from the result of the court ruling in March 2011.


More Definitions of JV Participant

JV Participant means a Party to this JOA who also owns a Percentage Interest share of the Joint Venture. Apex Bengara, as Operator, is a Party to this JOA but is not a JV Participant; "JV Property" means the JV's Apex Bengara Shares; the Information; custody and control of all fixtures, machinery, equipment, constructions, physical assets, inventory and supplies acquired for the Joint Venture, subject to the provisions for Pertamina ownership of same as per the Bengara-II PSC, Section-X; and any other property or rights of any description, whether real or personal, acquired for the Joint Venture; "Indonesian Tax Laws", means all the current tax laws including all the appropriate regulations as amended and as currently in effect in the Republic of Indonesia which may affect the Joint Venture, the Operator, JV Activities, the Permit and Petroleum Operations within the Permit Area; "Majority Vote" means a resolution of the Committee having the affirmative vote of two or more unrelated Parties having aggregate Percentage Interests exceeding 65%;
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JV Participant means the Parties having a Participating Interest in the Joint Venture, and their respective heirs, successors and assigns.
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Related to JV Participant

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Participant has the meaning specified in Section 10.06(d).

  • Key participant means a sole proprietor, a partner in partnership, or a person with executive managerial control in a corporation. A person with executive managerial control includes persons such as a chief executive officer, chief operating officer and chief financial officer. This definition does not include non-executive managers such as farm, field, or shift managers.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Study Participant means a person recruited to participate in the Study.

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • Qualified Participant means an individual who is a participant of Tier 2 and who meets 1 of the following requirements:

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Other Participant means a cooperative project participant other than the United States.

  • Section 16 Participant means a participant under the Plan who is then subject to Section 16 of the Exchange Act.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Voting Participant has the meaning specified in Section 10.06(d).

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.