Election to Participate by Venturers Sample Clauses

Election to Participate by Venturers. Venturers may elect to be Participating Venturers with respect to any particular Subsequent Operation for which the notice was sent by sending to the Managing Venturer, within seven business days (or such other period of time not less than seven business days as the Managing Venturer may specify) (48 hours if the rig is on location) after the mailing of such notice, payment in the amount of such Participating Venturer’s proportionate share of the expenditure estimated by the Managing Venturer to be necessary to finance the Subsequent Operation. Any Venturer shall be a Non-Participating Venturer if his or her payment is either: (a) postmarked later than seven business days (or such other period of time not less than seven business days as the Managing Venturer may specify) (48 hours if the rig is on location) after the mailing of the notice of such Subsequent Operation; or (b) received by the Managing Venturer later than 20 days after the date of such notice. It is further provided that the check in payment of the Additional Assessment must “clear” the bank on which it is drawn on the first attempt to present such check for payment. Failure of the check to “clear” or “be honored by” the bank on which it is drawn will result in the maker of such check being a Non-Participating Venturer.
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Election to Participate by Venturers. Venturers may elect to be Participating Venturers with respect to any particular Subsequent Operation. This election can be made by either of the following means; (a) mailing a check in payment of the Additional Assessment to the Managing Venturer by United States certified mail, return receipt requested, postmarked no later than fifteen (15) business days (48 hours if the rig is on location) after the date on which notice of the Additional Assessment was sent by the Managing Venturer (provided (i) that the envelope in which such check is mailed bears the correct address of the Managing Venturer as provided in this Agreement, and (ii) that such envelope bears the proper amount of postage to effect timely delivery); or (b) actual delivery of a check in payment of the Additional Assessment to the office of the Managing Venturer no later than 4:00 p.m. on the twentieth (20) day after the date on which notice of the Additional Assessment was sent by the Managing Venturer. It is further provided that the check in payment of the Additional Assessment must "clear" the bank on which it is drawn on the first attempt to present such check for payment. Failure of the check to 'clear" or "be honored by" the bank on which it is drawn will result in the maker of such check being a Non-Participating Venturer.
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Related to Election to Participate by Venturers

  • Emergency Escalation initiated by Registrars Registry Operator will maintain an emergency operations department prepared to handle emergency requests from registrars. In the event that a registrar is unable to conduct EPP transactions with the registry for the TLD because of a fault with the Registry Service and is unable to either contact (through ICANN mandated methods of communication) the Registry Operator, or the Registry Operator is unable or unwilling to address the fault, the registrar may initiate an emergency escalation to the emergency operations department of ICANN. ICANN then may initiate an emergency escalation with the Registry Operator as explained above.

  • NO EXPECTATION OF CONTINUED EMPLOYMENT BEYOND TERM OF CONTRACT Neither this contract nor any Board Policy, rule or evaluation procedure shall confer upon the Employee continued employment beyond the term provided in this contract.

  • File Management and Record Retention relating to CRF Eligible Persons or Households Grantee must maintain a separate file for every applicant, Eligible Person, or Household, regardless of whether the request was approved or denied. a. Contents of File: Each file must contain sufficient and legible documentation. Documents must be secured within the file and must be organized systematically.

  • No Physical Presence of Quorum and Participation by Audio or Video; Disaster Declaration The ability of the Board to meet in person with a quorum physically present at its meeting location may be affected by the Governor or the Director of the Ill. Dept. of Public Health issuing a disaster declaration related to a public health emergency. The Board President or, if the office is vacant or the President is absent or unable to perform the office’s duties, the Vice President determines that an in- person meeting or a meeting conducted under the Quorum and Participation by Audio or Video Means subhead above, is not practical or prudent because of the disaster declaration; if neither the President nor Vice President are present or able to perform this determination, the Superintendent shall serve as the duly authorized designee for purposes of making this determination. The individual who makes this determination for the Board shall put it in writing, include it on the Board’s published notice and agenda for the audio or video meeting and in the meeting minutes, and ensure that the Board meets every OMA requirement for the Board to meet by video or audio conference without the physical presence of a quorum.

  • Payment for Working Overtime on a Holiday Where an employee is required to work authorized overtime in excess of his regularly scheduled hours on a paid holiday, such employee shall receive twice (2x) his regular straight time hourly rate for such authorized overtime.