Operating Joint Venture definition

Operating Joint Venture shall have the meaning set forth above in the recitals hereto.

Operating Joint Venture means a Person other than a Restricted Subsidiary of the Borrower (i) in which the Borrower and its wholly-owned Restricted Subsidiaries (other than any Excluded Subsidiary) own at least a ten (10%) of the Capital Stock, (ii) substantially all of the assets of such Person consist of Oil and Gas Properties, (iii) the Borrower or one of the Guarantor Subsidiaries is the operator of such Oil and Gas Properties or is the manager of such Person, (iv) such Person has no Indebtedness for borrowed money, (v) such Person is not bound by agreements, and does not have organizational document restrictions on, the ability of such Person to make dividends or other Distributions on its Capital Stock and the Capital Stock of such Person not owned by the Borrower and the Guarantor Subsidiaries has no preferential rights to dividends or other Distributions over the Capital Stock of such Person owned by the Borrower and the Guarantor Subsidiaries. Notwithstanding the foregoing, in no event shall (i) Aquasition LLC, a Delaware limited liability company, (ii) Aquasition Energy LLC, a Delaware limited liability company, (iii) Aquasition II LLC, a Delaware limited liability company or (iv) any other Person involved in the transactions associated with the Aquasition Transaction Documents that is not a Restricted Person constitute an “Operating Joint Venture” hereunder.

Operating Joint Venture means the Joint Venture as defined in the joint operating agreement dated April 28, 2006, between Avante Colombia Ltd. Sucursal en Colombia and Vetra Exploración y Producción S.A. (formerly known as Petrotesting Colombia S.A.), for the purpose of operating the Production Contracts.

Examples of Operating Joint Venture in a sentence

• Administrative Agent or any Issuer and their Affiliates may accept deposits from, lend money to, act as Trustee under indentures of, lend money to, own securities of, act as financial advisor to, and generally engage in any kind of business with the Borrower, any Restricted Subsidiary or Operating Joint Venture or their Affiliates, all as if it were not Administrative Agent or an Issuer hereunder and without any duty to account therefor to any other Lender.

• Lender Parties may waive or amend such provisions as they desire without any notice to or consent of Borrower or any Restricted Subsidiary or Operating Joint Venture.

• The provisions of this Article (other than the following Section 9.9 and Section 9.14) are intended solely for the benefit of the Administrative Agent Indemnitees and the Lender Parties, and none of the Borrower, any Restricted Subsidiary or Operating Joint Venture shall be entitled to rely on any such provision or assert any such provision in a claim or defense against any Lender Party.

More Definitions of Operating Joint Venture

Operating Joint Venture means the following Joint Ventures: Asia Container Terminals Limited, ATL Logistics Centre Hong Kong Limited, ATL Logistics Centre Yantian Limited, CSX Orient (Tianjin) Container Terminals Co., Ltd., ATL Logistics Centre Yantian (Shenzehen) Co. Limited, CSX World Terminals Yxx Xxx Company Ltd., Zxxx Xxxxxx Multimodal Caucedo, S.A., Caucedo Services, Inc., Pusan Newport Co., Limited and CSXWT Bxxxxxx Puerto Cxxxxxx, C.A.

Operating Joint Venture means the joint venture between the Borrower and Alon USA, Interests, LLC or any of its affiliates or subsidiaries organized for the purpose of operating certain aspects of the Asset Joint Venture."