Participating Interest definition

Participating Interest is defined in Section 1.2(d) hereof.

Participating Interest is defined in Section 1.3(e) hereof.

Participating Interest means, in respect of each Party constituting the Contractor, the undivided share expressed as a percentage of such Party’s participation in the rights and obligations under this Contract.

Examples of Participating Interest in a sentence

• Each Participant shall take in kind or separately dispose of its share of all Products in proportion to its Participating Interest.

• Upon such withdrawal, the Business and this Agreement shall terminate, and the withdrawing Participant shall be deemed to have transferred to the remaining Participant all of its Participating Interest, including all of its interest in the Assets, without cost and free and clear of all Encumbrances arising by, through or under such withdrawing Participant, except those exceptions to title described in Part 1 of Exhibit A and those to which both Participants have given their written consent.

• Each Participant's share of such liabilities shall be equal to its Participating Interest at the time such liability was incurred, after first taking into account any reduction, readjustment or restoration of Participating Interests under Sections 6.3, 9.4, 9.5 or 10.5 (or, as to liabilities arising prior to the Effective Date, its initial Participating Interest).

• If a Participant fails to so notify the Management Committee of the extent to which it elects to participate, the Participant shall be deemed to have elected to contribute to such Program and Budget in proportion to its respective Participating Interest as of the beginning of the Program Period.

• A Participant shall have the right to Transfer to any other Person all or any part of its Participating Interest, including any interest in this Agreement or the Assets, solely as provided in this Article 15.

More Definitions of Participating Interest

Participating Interest is defined in Section 2.3(e).

Participating Interest means the percentage interest representing the operating ownership interest of a Participant in Assets, and all other rights and obligations arising under this Agreement, as such interest may from time to time be adjusted hereunder. Participating Interests shall be calculated to three decimal places and rounded to two (e.g., 1.519% rounded to 1.52%). Decimals of .005 or more shall be rounded up to .01, decimals of less than .005 shall be rounded down. The initial Participating Interests of the Participants are set forth in Section 6.1.

Participating Interest means as to any Party, the undivided interest of such Party (expressed as a percentage of the total interests of all Parties) in the rights and obligations derived from the Parties’ interest in the Contract and this Agreement.

Participating Interest means a Party’s percentage of participation, as it may exist at any given time, in the rights and obligations under the PSC, in respect of the RJ Block, which is currently at 35%, 35% and 30% for Vedanta, CEHL and ONGC respectively

Participating Interest with respect to any Letter of Credit (a) in the case of the Issuing Lender, its interest in such Letter of Credit and any Letter of Credit Application relating thereto after giving effect to the granting of any participating interests therein pursuant hereto and (b) in the case of each Participating Lender, its undivided participating interest in such Letter of Credit and any Letter of Credit Application relating thereto.

Participating Interest means rights in the capital of other under­ takings, whether or not represented by certificates, which, by creating a durable link with those undertakings, are intended to contribute to the activities of the undertaking which holds those rights. The holding of part of the capital of another undertaking is presumed to constitute a participating interest where it exceeds a percentage threshold fixed by the Member States which is lower than or equal to 20 %;

Participating Interest means the respective undivided interest of each of the parties as it may exist at any given time in the participation area and under this Participation Agreement;