Percentage Interests of the Participants in an Extension. If less than all Parties participate in an application for an extension of the Licence in accord- ance with Section 5.3.2 and unless otherwise unanimously agreed by the participating Parties the percentage interest of each participating Party shall be the proportion that its Percentage Interest bears to the total of the Percentage Interests of all participating Parties. However, in the event Nordsøfonden decides to participate in an application for an extension of the Li- cence in accordance with Section 5.3.2 Nordsøfonden may elect to participate either with a percentage interest calculated as herein described or with its Original State Participation Share.
Appears in 2 contracts
Sources: Joint Operating Agreement, Joint Operating Agreement