Venture Assets definition

Venture Assets means the property whether real or personal owned or acquired by Licensee in connection with Petroleum Operations hereunder and includes the Exploration Licence and any Production Licences granted hereunder.
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Venture Assets means all assets and property, whether tangible or intangible and whether real, personal or mixed including, but not limited to the Properties, at any time owned by or held for the benefit of the Venture. The Venture Assets shall include all assets of Owners or any other Subsidiary.
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Venture Assets means the Subject Interests, the Data and all other real and personal property, tangible and intangible, held by or for the benefit of the Participants hereunder, including any and all facilities existing in, on or under the lands covered by the Subject Interests.
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Examples of Venture Assets in a sentence

  • The Operator shall pay the net proceeds received in respect of such Joint Venture Assets, if any, to the Parties in proportion to their respective Joint Venture Interests.

  • The Operator shall apply, to the extent determined by the Operator, any insurance proceeds received by the Operator in respect of any loss or damage to Joint Venture Assets towards the repair or replacement of the lost or damaged Joint Venture Assets.

  • The Operator shall pay the remaining proceeds received in respect of such Joint Venture Assets, if any, to the Parties in proportion to their respective Joint Venture Interests.

  • Any Joint Venture Assets that the Operator may sell or otherwise dispose of to an Affiliate shall be sold or otherwise disposed of at fair market value.

  • Any Joint Venture Assets that the Operator may purchase, lease or rent from an Affiliate shall be purchased, leased or rented at fair market value.

  • If such surplus Joint Venture Assets are used by the Operator, outside the scope of the Joint Venture, or are used by an Affiliate of the Operator, outside the scope of the Joint Venture, then the net proceeds in respect of such use shall be deemed to be an amount equal to what could be obtained from an arms-length third party.

  • All costs, charges and expenses of winding up the Joint Venture (including in respect of any reclamation) shall be for the account of the Joint Venture and the Parties shall divide the net Joint Venture Assets in proportion to their Joint Venture Interests, although any loans advanced to the Joint Venture by a Party shall be satisfied before any other distribution of assets is made to the Parties.

  • No Member shall file for, pursue or seek any partition of any Venture Assets.

  • No statute, regulation or law providing for partition, or partition and sale, shall apply to any of the Joint Venture Assets.

  • Once the said costs, charges and expenses have been paid in full, the Operator may sell the Joint Venture Assets (with the prior approval of the non-Operator, where Joint Venture Assets are sold for a total amount of in excess of $100,000) or distribute the Joint Venture Assets to the Parties in kind.


More Definitions of Venture Assets

Venture Assets means all properties and assets of the Venture or Marigold (held on behalf of the Venture) of every kind and description whether real, personal, mixed, tangible or intangible, wherever located and includes any interest therein.
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