Common use of The Operator Clause in Contracts

The Operator. 8.1 Optionee as initial Operator. Subject to the determination of the Management Committee in accordance with Article "9" hereinbelow, and subject to the terms of any completed assignment or transfer of any Holding (as hereinafter determined) of the Optionee in accordance with Article "10" hereinbelow, prior to the due and complete exercise of the Option the Optionee or, at the Optionee's option and in the Optionee's sole and absolute discretion, the Optionee's respective associate, nominee or such other unrelated entity as the Optionee may determine, will act as the Operator of the Assets under this Agreement. The Operator may resign as the Operator at any time by giving 30 calendar days' prior written notice to the Parties hereto and, within such 30-day period, the Management Committee may appoint another party who covenants to act as the Operator of the Assets upon such terms as the Management Committee shall agree.