Removal of the Operator Sample Clauses

The 'Removal of the Operator' clause establishes the conditions and procedures under which an operator can be removed from their role or responsibilities within an agreement. Typically, this clause outlines the specific grounds for removal, such as breach of contract, failure to perform duties, or misconduct, and may detail the process for notifying the operator and transitioning their responsibilities. Its core practical function is to provide a clear mechanism for replacing an operator when necessary, thereby protecting the interests of the other party and ensuring the continued smooth operation of the underlying project or service.
Removal of the Operator. 3.2.1 The Operator shall be removed when it resigns, or when it is relieved of its function or when it ceases to hold any Percentage Interest or further when a Joint Operating Company is constituted in accordance with provisions of paragraph 3.2.6. of this Contract. 3.2.2 The Operator may at any time resign as Operator by giving notice in writing to ONHYM of such resignation. Such resignation shall be effective one hundred and eighty (180) days after the date of notice thereof or during such notice period, provided that a new operator has been appointed by the Parties and agrees to assume the obligations of the Operator in accordance with all the provisions of the Petroleum Agreement and this Contract. 3.2.3 The Operator shall be relieved of its duties if it can no longer perform them. It also can be relieved of its duties by a justifiable decision of the Management Committee. 3.2.4 Should the Operator so resign or be removed, it will be replaced by a successor Operator immediately appointed by the Management Committee provided, however, that any Operator having been removed as Operator may not be reappointed as Operator. 3.2.5 Removal or resignation of an Operator shall not in any way affect its right, title or interest in the Exploration Permits or Exploitation Concessions, nor any of its rights or obligations as a Party under this Contract. On the effective date of removal or resignation, the Operator shall deliver to the successor Operator any and all funds, equipment, materials, books, records, and rights acquired by it and in its custody for the Joint Account (including Available Hydrocarbons not delivered to the Parties) and shall account to the Parties for such items mentioned herein not delivered. 3.2.6 Two (2) years after commencement of commercial production from the first Exploitation Concession obtained in the Area of Interest, a jointly owned operating company shall be formed to replace the Operator. PETCO and its affiliates shall provide such Joint Operating Company such personnel and technical assistance as may be reasonably required, subject to the same reimbursement terms as provided for in paragraph 3.1.2.(i) of this Contract.
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Removal of the Operator. The parties may establish criteria for removal of the Operator, including how a new Operator would be selected and how the transition from one Operator to another would be managed.
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Removal of the Operator. During the Initial Term of this Agreement, the Operator may be removed only for "good cause" by the affirmative vote of the Management Committee (after excluding the voting interest of the Operator). For purposes hereof, "good cause" shall mean any of the following (a) repeated negligence; (b) unremedied negligence; (c) willful misconduct; (d) material breach of the standards of operation contained in Section 5; or (e) material failure to perform its obligations under this Agreement. For purposes hereof, "repeated negligence" shall occur if (i) the Operator is negligent in performing its obligations under this Agreement; (ii) the Operator receives a notice in writing from the Management Committee specifying that the Management Committee has reasonably determined that the Operator has been negligent in the performance of its duties as the Operator and the basis for such determination by the Management Committee; and (iii) the Operator receives such written notices more than three times in any six month period. For purposes hereof, "unremedied negligence" shall occur if (i) the Operator is negligent in performing its obligations under this Agreement; (ii) the Operator receives a notice in writing from the Management Committee specifying that the Management Committee has reasonably determined that the Operator has been negligent in the performance of its duties as the Operator and the basis for such determination by the Management Committee; and (iii) the Operator has not remedied, or commenced diligent efforts to cure within such period, its negligence within 14 calendar days and continues to pursue such diligent efforts until such matters are cured after its receipt of the Management Committee's notice.
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Removal of the Operator. (A) Subject to Article 4.11, the Operator shall be removed if: (1) An order is made by a court or an effective resolution is passed for the winding up of the Operator; (2) The Operator makes a petition to a court for an arrangement with its creditors; (3) The Operator files for the declaration of its bankruptcy by a court; or is declared bankrupt; or (4) A receiver is appointed for a substantial part of the Operator’s assets in accordance with the provisions of the Code of Civil Procedure. The removal shall be effective upon the delivery of notice from Non-Operator, unless the Non-Operator’s notice provides otherwise. (B) Subject to Article 4.11, the Operator may be removed if it is in material breach of this Agreement and has failed to take reasonable steps to commence to cure that breach within thirty (30) Days of receipt of a notice from the Non-Operator detailing the alleged breach or has failed to diligently pursue the cure to completion. If there is more than one Non-Operator, any decision of the Non-Operator to remove the Operator under this Article 4.10(B) shall be made by an affirmative vote of two or more Non-Operators holding a majority of the Interest held by all Non-Operators. The removal shall be effective upon the delivery of the notice to the Operator, unless the Non-Operator’s notice provides otherwise. (C) If the Operator (including its Affiliates) becomes the holder of an Interest of less than fifteen percent (15%), then the Operating Committee shall then vote within sixty (60) Days of the arising of such circumstances on whether or not a successor Operator should be named pursuant to Article 4.11.
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Removal of the Operator. The Operator shall be removed upon receipt of notice from the Management Committee if: (a) 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 the Operator-, (b) the Operator dissolves, liquidates, is wound up, or otherwise terminates its existence; (c) the Operator becomes insolvent, bankrupt or makes an assignment for the benefit of creditors; or (d) a receiver is appointed for a substantial part of the Operator's assets.
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Removal of the Operator. (a) Subject to Article 5.3, the Operator shall be removed upon receipt of notice from any Non-Operator if: (i) an order is made by a court or an effective resolution is passed for the dissolution, liquidation, winding up, or reorganization of the Operator; (ii) the Operator dissolves, liquidates or terminates its corporate existence; (iii) the Operator becomes insolvent, bankrupt or makes an assignment for the benefit of creditors; (iv) a receiver is appointed for a substantial part of the Operator's assets; (v) the Operator commits a substantial breach of a material provision of this Agreement and fails to cure the breach within thirty (30) Days after notice of the breach; or (vi) the Operator or has its rights suspended pursuant to Section 15.1 of the Joint Venture Agreement. (b) If the Operator together with any Affiliate of the Operator ceases to be a holder of a Participating Interest, then the Operator shall be required to promptly notify the other Parties. The Operating Committee shall then vote within fourteen (14) Days of such notification on whether or not a successor Operator should be named pursuant to Article 5.4.
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Removal of the Operator. The Operator may only be removed by the affirmative vote of the Owners having voting interests totalling ninety-five (95%) percent or more of the voting interests determined by excluding the voting interest of the Operator and its Affiliates, but for the purposes hereof, paragraph (e) of this Clause shall not. apply.
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Related to Removal of the Operator

  • Removal of Manager Upon an Event of Default (and so long as the Private Owner is then the Manager), the Initial Member may remove the Private Owner as the Manager and appoint a successor Manager in the sole discretion of the Initial Member in accordance with Section 12.4, whereupon such successor Manager shall immediately succeed to all, or such portion as the Initial Member and successor Manager agree, of the rights, powers, duties and obligations of the “Manager” hereunder, and the predecessor Manager shall promptly take such actions as may be reasonably requested by the Initial Member to facilitate the transition to such successor Manager.

  • Removal of Equipment Subject, always, to the other terms and provisions of this Fee Agreement, the Company and any Sponsor Affiliates shall be entitled to remove and dispose of components of the Project from the Project in its sole discretion with the result that said components shall no longer be considered a part of the Project and, to the extent such constitute Economic Development Property, shall no longer be subject to the terms of this Fee Agreement. Economic Development Property is disposed of only when it is scrapped or sold or removed from the Project. If it is removed from the Project, it is subject to ad valorem property taxes to the extent the Property remains in the State and is otherwise subject to ad valorem property taxes.

  • Removal of Tenant’s Property Upon the expiration or earlier termination of this Lease or the termination of Tenant's right of possession of the Premises only, Tenant shall have the right, at its sole cost and expense, for a period of fifteen (15) days thereafter to remove Tenant's Property, Distinctive Property and the Financed Personalty, respectively, from the Premises, provided that Tenant shall pay to Landlord Rent due under Article 3 hereof for the actual number of days which elapse during such fifteen (15) day period until the Tenant's Property, Distinctive Property and the Financed Personalty, as applicable, are removed from the Premises. If and to the extent that Tenant fails to remove any of such property by the expiration of said fifteen (15) day period, Landlord agrees that Tenant Lender, TE Lender and Franchisor each shall have the right for a period of forty (45) days thereafter to remove the same from the Premises, provided, that Tenant shall pay to Landlord Rent due hereunder for the actual number of days which elapse until Tenant Lender, TE Lender or Franchisor remove the same from the Premises during such forty five (45) day period. If and to the extent that any such property remains on the Premises on the sixtieth (60th) day after such termination, the same shall be deemed abandoned, and at Landlord's option shall become the property of Landlord and may be sold or disposed of as Landlord may determine; provided, however, that Landlord shall not use, suffer or permit the use of any Distinctive Property unless the attributes or features thereof associated with Tenant or Franchisor are removed or obliterated. Any and all damage to the Building caused by or resulting from the removal of Tenant's Property, Distinctive Property or Financed Personalty shall promptly be repaired at no cost or expense to Landlord and Tenant shall be liable for such cost and expense unless such repairs are made by Tenant, Franchisor or TE Lender, as the case may be.

  • Removal of Improvements All alterations, additions and other improvements by Tenant shall become the property of Landlord and shall not be removed from the Premises, unless request is made by Landlord to Tenant to remove those alterations, additions and other improvements which were made without Landlord's approval where such approval was required under this Lease. All moveable trade fixtures, furniture, furnishings and signs installed in the Premises by Tenant and paid for by Tenant, shall remain the property of Tenant and may be removed upon the expiration of the term of this Lease; provided that any of such items as are affixed to the Premises and require severance may be removed only if Tenant repairs any damage caused by such removal and that Tenant shall otherwise comply with all of the terms, conditions and covenants to be performed by Tenant under this Lease with respect to such removal. If Tenant fails to remove such items from the Premises by the expiration of the Lease Term or earlier termination of this Lease, all such trade fixtures, furniture, furnishings and signs shall become the property of Landlord, unless Landlord elects to require their removal, in which case Tenant shall, at its sole cost and expense, promptly remove the same and restore the Premises to its condition on the date of this Lease. The covenants contained in this Section shall survive the expiration of the Lease Term or earlier termination hereof.

  • Removal of General Partner (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, the General Partner, the General Partner shall be deemed to be removed automatically; provided, however, that if the General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of the General Partner is continued by the remaining partner or partners. The Limited Partners may not remove the General Partner, with or without cause. (b) If the General Partner has been removed pursuant to this Section 7.04 and the Partnership is continued pursuant to Section 7.03, the General Partner shall promptly transfer and assign its General Partnership Interest in the Partnership to the substitute General Partner approved by a Majority in Interest in accordance with Section 7.03(b) and otherwise be admitted to the Partnership in accordance with Section 7.02. At the time of assignment, the removed General Partner shall be entitled to receive from the substitute General Partner the fair market value of the General Partnership Interest of such removed General Partner as reduced by any damages caused to the Partnership by such General Partner. Such fair market value shall be determined by an appraiser mutually agreed upon by the General Partner and a Majority in Interest (excluding the General Partner and any Subsidiary of the General Partner) within ten days following the removal of the General Partner. In the event that the parties are unable to agree upon an appraiser, the removed General Partner and a Majority in Interest (excluding the General Partner and any Subsidiary of the General Partner) each shall select an appraiser. Each such appraiser shall complete an appraisal of the fair market value of the removed General Partner’s General Partnership Interest within 30 days of the General Partner’s removal, and the fair market value of the removed General Partner’s General Partnership Interest shall be the average of the two appraisals; provided, however, that if the higher appraisal exceeds the lower appraisal by more than 20% of the amount of the lower appraisal, the two appraisers, no later than 40 days after the removal of the General Partner, shall select a third appraiser who shall complete an appraisal of the fair market value of the removed General Partner’s General Partnership Interest no later than 60 days after the removal of the General Partner. In such case, the fair market value of the removed General Partner’s General Partnership Interest shall be the average of the two appraisals closest in value. (c) The General Partnership Interest of a removed General Partner, during the time after default until transfer under Section 7.04(b), shall be converted to that of a special Limited Partner; provided, however, such removed General Partner shall not have any rights to participate in the management and affairs of the Partnership, and shall not be entitled to any portion of the income, expense, profit, gain or loss allocations or cash distributions allocable or payable, as the case may be, to the Limited Partners. Instead, such removed General Partner shall receive and be entitled only to retain distributions or allocations of such items that it would have been entitled to receive in its capacity as General Partner, until the transfer is effective pursuant to Section 7.04(b). (d) All Partners shall have given and hereby do give such consents, shall take such actions and shall execute such documents as shall be legally necessary and sufficient to effect all the foregoing provisions of this Section 7.04.