VARIOUS DUTIES OF OPERATOR Sample Clauses

VARIOUS DUTIES OF OPERATOR. Subject to the direction and control of the Operating Committee, the Operator shall, except as herein elsewhere specifically provided; for the Joint Account do all things necessary for the purpose of implementing programmes and budgets approved by the Operating Committee including but not limited to:- (a) pay when due all costs and expenses authorised and chargeable hereunder and all fixed payments, charges, levies, expenses and other payments required by law or incurred or arising out of Work and keep the Concession and the Joint Facilities free from liens and encumbrances in respect thereof created by or likely to be created by actions of the Operator while acting as such; (b) promptly commence and diligently prosecute all Work and make all payments necessary to keep the Concession and the Joint Facilities free from forfeiture or cancellation under the Petroleum Act or otherwise; (c) do all other acts and things necessary or advisable in the Operator's judgment to comply with the terms and conditions of the Concession in order to protect it from default and forfeiture; (d) provide, hire, direct and discharge all contractors, consultants, staff and employees and furnish all materials, supplies and equipment for Work, all the staff and employees to be and remain the separate staff and employees of the Operator and to be carried on its payroll and subject to its sole direction; (e) comply with all applicable laws and regulations of any governmental authority having jurisdiction concerning the Concession and with the terms of the CLC Agreement insofar as it relates to the duties of Operator hereunder; (f) keep an accurate record of all Work including a log of all ▇▇▇▇▇ drilled hereunder and accurate and itemised records of all Petroleum produced from the Concession; (g) keep the Joint Facilities in a safe and operable condition or some better condition approved by the Operating Committee; and (h) maintain the insurances to be taken out by the Operator in accordance with this Agreement.
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Related to VARIOUS DUTIES OF OPERATOR

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and incorporated herein by this reference.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Statement of Operations Statement of Changes in Net Assets.

  • CONTINUITY OF OPERATIONS Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.