Lateral Opportunity definition

Lateral Opportunity has the meaning given that term in Section 15.1.
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Lateral Opportunity means any natural gas source which is located in the Discovery Area of Interest and with respect to which the owner or its agent has requested proposals from any Person for the gathering, transportation, processing or fractionation of production from such source.
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Examples of Lateral Opportunity in a sentence

  • The Lateral Opportunity Notice shall also contain reasonably sufficient operational and financial information and other details to allow the Members to make a reasonably informed decision with respect to such Lateral Opportunity.

  • Except as set forth in this Section, the construction, acquisition, operation, maintenance and ownership of each such Rejected Lateral Opportunity project shall not be governed or affected by this Agreement.

  • No Member shall have any obligation or duty to Manta Ray or Nautilus, as applicable, or the other Members with respect to any Rejected Lateral Opportunity to the extent it is covered by definitive agreements entered into, or otherwise consummated, by such Member or its Affiliates after compliance with this Section 15.1 or with respect to any modification, renewal or extension of the terms of such definitive agreements with respect to any such Rejected Lateral Opportunity.

  • Any constituent of the Shell Gas Pipeline Companies, Marathon Gas Pipeline Companies, or Leviathan Gas Pipeline Companies may enter into an agreement, which may be amended from time to time, with their respective Affiliates involving a Lateral Opportunity and, if applicable, the terms and conditions of such agreement or agreements will be offered to Nautilus or Manta Ray as applicable pursuant to the terms and conditions of Section 15.1(b).

  • Except as otherwise provided in this Section 15.1(a) no constituent of the Shell Gas Pipeline Companies, Marathon Gas Pipeline Companies or Leviathan Gas Pipeline Companies, will, directly or indirectly, enter into any agreement to construct or otherwise consummate transactions involving construction of any Lateral in which such constituent would own an interest (a "Lateral Opportunity") until such Lateral Opportunity has been rejected or otherwise forfeited by Manta Ray or Nautilus, as applicable.

  • No Members shall have any obligation or duty to the Company or the other Members with respect to any Rejected Lateral Opportunity to the extent it is covered by definitive agreements entered into, or otherwise consummated, by such Members or their Affiliates after 52 compliance with this Section 15.01 or with respect to any modification, renewal or extension of the terms of such definitive agreements with respect to any such Rejected Lateral Opportunity.

  • No Party will, or will permit any of its Affiliates to, directly or indirectly, enter into any agreement to construct or otherwise consummate any transaction involving the construction of any Lateral (a “Lateral Opportunity”) until such Lateral Opportunity has been rejected or otherwise forfeited by the Company and the Partners, as applicable, in accordance with this Section 15.1.

  • The construction, operation, maintenance and ownership of each such Rejected Lateral Opportunity project shall not be governed or affected by this Agreement, but shall be governed by the contractual and other arrangements established by the Members participating in such project.

  • Notwithstanding anything to the contrary in this Section 2.7(a), no obligations under this Section 2.7(a)(i) (including the obligation of confidentiality) with regard to any specific natural gas source or Lateral Opportunity shall continue beyond two years from the date of first notification thereof to the Company.

  • Any Member may propose that Manta Ray or Nautilus, as applicable, undertake a Lateral Opportunity by delivering written notice (a "Lateral Opportunity Notice") to Manta Ray or Nautilus, as applicable, and each of the Members.

Related to Lateral Opportunity

  • Historically black college or university means an institution determined by the Secretary of Education to meet the requirements of 34 CFR 608.2.

  • Investment opportunity means anything, tangible or intangible, that is offered, offered for sale, sold, or traded based wholly or in part on representations, either express or implied, about past, present, or future income, profit, or appreciation.

  • Lottery or “state lottery” means the lottery created pursuant to this act and operated exclusively by or under the exclusive control of the bureau of state lottery.

  • CMR means the Convention on the Contract for the International Carriage of Goods by Road (Geneva, 19 May 1956), as amended;

  • Business Opportunity means any commercial, investment or other business opportunity relating to the Business.

  • Opportunity Cost means a component of the Market Seller Offer Cap calculated in accordance with Tariff, Attachment DD, section 6. OPSI Advisory Committee: