Designated Operator definition
Examples of Designated Operator in a sentence
When the Designated Operator decides to resign, THE CONTRACTOR must inform ▇▇▇ with no less than ninety (90) calendar day’s previous notice.
Paragraph: Whenever ▇▇▇ becomes aware that the Operator or Designated Operator has engaged in negligent practices or practices contrary to Good Oil Industry Practices in relation with the compliance of the obligations under this Agreement, it will so advise THE CONTRACTOR, who will have 90 calendar Days counted from the date of the requirement to adopt corrective measures.
Such redetermined Operating Fee shall take into account the amount of said fee that was previously in effect, as well as current costs associated with the operation and maintenance of the Facilities (including the marine terminal and port facilities), the prevailing and forecasted regional market conditions respecting the Petroleum production and transportation industries, and the desire to maintain the relative economic positions of the MEP Participants and the Designated Operator.
Propco shall be permitted to share with the Designated Operator customary due diligence and other information regarding the ROFR Property that Eldorado and its Affiliates provided to Propco and its Affiliates prior to or in connection with the Propco Sale ROFR Discussion Period, which information shall be subject to the non-disclosure agreement previously executed between Eldorado and/or its Affiliates and the Designated Operator.
Immediately following their execution of this Agreement, all Parties shall execute the forms required by governmental authorities having jurisdiction to effectuate designation of Tarpon Operating & Development, L.L.C. as BOEM "Designated Operator" of the Lease.