Common use of Effective Date of Appointment Clause in Contracts

Effective Date of Appointment. The appointment of a successor Operator shall take effect in accordance with the following provisions: (a) in the case of the deemed removal of an Operator pursuant to Clause 4.2, the appointment of a successor Operator pursuant to Clause 4.6(a) or Operator for the time being pursuant to Clause 4.7 shall take effect forthwith upon such appointment; (b) in the case of the replacement of an Operator pursuant to Clause 4.4, the appointment of the outgoing Operator shall cease at a time to be agreed upon by the Operating Committee and the outgoing Operator or in the absence of agreement at 8.00 am on the first Business Day of the month following the month in which it is resolved to replace the Operator pursuant to Clause 4.4, and the appointment of a successor Operator pursuant to Clause 4.6(b) or Operator for the time being under Clause 4.7 shall take effect in each case at such time; and (c) in the case of the resignation of an Operator pursuant to Clause 4.5, the appointment of a successor Operator pursuant to Clause 4.6(c) or Operator for the time being under Clause 4.7 shall take effect at 8.00 am on the first day following the expiration of ninety (90) Business Days (or such lesser period of notice as is accepted by the Operating Committee) after the date upon which notice of resignation was given pursuant to Clause 4.5.

Effective Date of Appointment. The appointment of a successor Operator shall take effect in accordance with the following provisions: : (a) in the case of the deemed removal of an Operator pursuant to Clause 4.2, the appointment of a successor Operator pursuant to Clause 4.6(a) or Operator for the time being pursuant to Clause 4.7 shall take effect forthwith upon such appointment; ; (b) in the case of the replacement of an Operator pursuant to Clause 4.4, the appointment of the outgoing Operator shall cease at a time to be agreed upon by the Operating Committee and the outgoing Operator or in the absence of agreement at 8.00 am on the first Business Day of the month following the month in which it is resolved to replace the Operator pursuant to Clause 4.4, and the appointment of a successor Operator pursuant to Clause 4.6(b) or Operator for the time being under Clause 4.7 shall take effect in each case at such time; and and (c) in the case of the resignation of an Operator pursuant to Clause 4.5, the appointment of a successor Operator pursuant to Clause 4.6(c) or Operator for the time being under Clause 4.7 shall take effect at 8.00 am on the first day following the expiration of ninety (90) Business Days (or such lesser period of notice as is accepted by the Operating Committee) after the date upon which notice of resignation was given pursuant to Clause 4.5.