Participant Interest definition
Examples of Participant Interest in a sentence
Participant agrees to pay for its Participant Interest share of the drilling, completion and equipping, or the plugging and abandonment, of the Obligation ▇▇▇▇▇.
For purposes of this Agreement, all of the Options set forth as such on the signature page hereto shall be designated “Time Options.” For each Participant Interest purchased in accordance with the terms of this Agreement, the Plan and the Operating Agreement, Optionee shall pay to the Company the price set forth on the signature page hereto (the “Exercise Price”).
For each Participant Interest purchased in accordance with the terms of this Agreement, the Plan and the Operating Agreement, Optionee shall pay to the Company the price set forth on the signature page hereto (the “Exercise Price”).
After drilling and completion of the Obligation ▇▇▇▇▇, all subsequent ▇▇▇▇▇ ("Subsequent ▇▇▇▇▇") and subsequent operations with respect to the Obligation ▇▇▇▇▇ shall be proposed in accordance with the Operating Agreement and the provisions of this Agreement with Participant being responsible for its Participant Interest, subject to any elections to not participate in the Operating Agreement.
To the extent such appraised fair market value differs from the Purchase Price, the Lender or the Participant, as applicable, shall promptly make such payment as may be necessary so that the total purchase price for the Participant Interest received by Lender is equal to such appraised fair market value.
In the event the Re-instated Letter of Credit is drawn upon, the LC Beneficiary will transfer its Owner Participant Interest to the LC Issuer.
After drilling and completion of the Obligation ▇▇▇▇▇, all subsequent ▇▇▇▇▇ (“Subsequent ▇▇▇▇▇”) and subsequent operations with respect to the Obligation ▇▇▇▇▇ shall be proposed in accordance with the Operating Agreement and the provisions of this Agreement with Participant being responsible for its Participant Interest, subject to any elections to not participate in the Operating Agreement.
No grant of LTIP Units shall be effective, if the Participant Interest Holder is legally married as of the Grant Date, until his or her spouse has validly executed the Spousal Consent portion of this Award Agreement set forth in Annex C hereto.
For the avoidance of doubt, for purposes of this Section 9.3, a Contractor shall include an Affiliate of an MEP Participant, Interest Holder, Operating Company or Shipper in its role as a Contractor.
Nothing in this Award Agreement shall confer upon the Participant Interest Holder any right to continue in the service (or other employment) in respect of the Partnership or any Affiliate thereof or shall interfere with or restrict in any way the rights that any member of the Partnership Group may have, which are hereby expressly reserved, to remove, terminate or discharge the Participant Interest Holder as a service provider (or as an employee) at any time for any reason whatsoever, with or without Cause.