Participating Party. A Party who, having the contractual right to do so, participates in the sharing of: (a) the Costs, risks, and benefits (including rights to Hydrocarbons) of an approved activity or operation; or, (b) if applicable, the interests to be assigned to the Parties. The term includes a Party who does not Vote to participate in a proposed activity or operation, but is nonetheless bound to participate in that proposed activity or operation if it is approved by Vote.
Appears in 2 contracts
Sources: Ratification and Joinder of Operating Agreement (Anadarko Petroleum Corp), Operating Agreement (Anadarko Petroleum Corp)