Common use of Administrative and Operating Expense Clause in Contracts

Administrative and Operating Expense. Approval of administrative and operating expense Budgets permits the Operator without prior approval of the Parties to issue AFE's covering the full Year and to record such expenditures in the Joint Account, except for major exceptional operating expenditures (e.g. workover of ▇▇▇▇▇) that shall require a separate approved AFE as stated in Section 2.4.1. above.

Administrative and Operating Expense. Approval of administrative and operating expense Budgets permits the Operator without prior approval of the Parties to issue AFE's covering the full Year and to record such expenditures in the Joint Account, except for major exceptional operating expenditures (e.g. workover of ▇▇▇▇▇) that shall require a separate approved AFE as stated in Section 2.4.12.3.1. above.