Common use of Participating Interest Clause in Contracts

Participating Interest. Each Participant shall have the undivided percentage interest determined under this Contract and/or as agreed by the Participants ("Participating Interest"), provided that each Participant's Participating Interest shall not be less than three point seven five percent (3.75%). The Companies shall participate in proportion to their respective Participating Interest in all costs, expenses and liabilities incurred pursuant to this Contract or JOA and shall own, in the same proportion, the Contractor's rights under this Contract and the Participants' rights under the JOA.

Participating Interest. Each Subject to Article 27 of the Contract, each Participant shall have the undivided percentage interest determined under this the Contract and/or as agreed by the Participants ("“Participating Interest"”), provided that each Participant's Participating Interest shall not be less than three seven point seven five percent (3.757.5%). The Companies Each Participant shall participate in proportion to their its respective Participating Interest in all costs, expenses and liabilities incurred pursuant to this the Contract or JOA and shall own, in the same proportion, the Contractor's rights under this the Contract and the Participants' rights under the JOA.