Common use of Removal of Operator Clause in Contracts

Removal of Operator. (A) Subject to Article 4.11, AEMG or GGG may be removed upon receipt of notice from the other Party or Title Holder if: (1) An order is made by a court or an effective resolution is passed for the reorganization under any bankruptcy law, dissolution, liquidation, or winding up of Operator, (2) Operator dissolves, liquidates, is wound up, or otherwise terminates its existence, (3) Operator becomes insolvent, bankrupt or makes an assignment for the benefit of creditors, or (4) A receiver is appointed for a substantial part of Operator assets. (B) Subject to Article 4.11, Operator may be removed by the decision of the other Party or Title Holder if Operator has committed a material breach of this Agreement and has either failed to commence to cure that breach within thirty (30) Days of receipt of a notice from the other Party or Title Holder detailing the alleged breach or failed to diligently pursue the cure to completion. Any decision of the other Party or Title Holder to give notice of breach to Operator or to remove Operator under this Article 4.10(B) shall be made by an affirmative vote of the other Party and Title Holder.

Removal of Operator. (A) Subject to Article 4.11, AEMG or GGG GGGL may be removed upon receipt of notice from the other Party or Title Holder DCL if: (1) An order is made by a court court, or an effective resolution is passed for the reorganization under any bankruptcy law, dissolution, liquidation, or winding up of Operator, (2) Operator dissolves, liquidates, is wound up, or otherwise terminates its existence, (3) Operator becomes insolvent, bankrupt or makes an assignment for the benefit of creditors, or (4) A receiver is appointed for a substantial part of Operator assets. (B) Subject to Article 4.11, Operator may be removed by the decision of the other Party or Title Holder if Operator has committed a material breach of this Agreement and has either failed to commence to cure that breach within thirty (30) Days of receipt of a notice from the other Party or Title Holder detailing the alleged breach or failed to diligently pursue the cure to completion. Any decision of the other Party or Title Holder to give notice of breach to Operator or to remove Operator under this Article 4.10(B) shall be made by an affirmative vote of the other Party and Title Holder.

Removal of Operator. (A) Subject to Article 4.11, AEMG or GGG GGGL may be removed upon receipt of notice from the other Party or Title Holder EGCL if: (1) An order is made by a court court, or an effective resolution is passed for the reorganization under any bankruptcy law, dissolution, liquidation, or winding up of Operator, (2) Operator dissolves, liquidates, is wound up, or otherwise terminates its existence, (3) Operator becomes insolvent, bankrupt or makes an assignment for the benefit of creditors, or (4) A receiver is appointed for a substantial part of Operator assets. (B) Subject to Article 4.11, Operator may be removed by the decision of the other Party or Title Holder if Operator has committed a material breach of this Agreement and has either failed to commence to cure that breach within thirty (30) Days of receipt of a notice from the other Party or Title Holder detailing the alleged breach or failed to diligently pursue the cure to completion. Any decision of the other Party or Title Holder to give notice of breach to Operator or to remove Operator under this Article 4.10(B) shall be made by an affirmative vote of the other Party and Title Holder.