16 risk transactions. Sole Risk Operation refers to the operation of the Schedule 1 type, which may be less than that of all participants to meet their risks, benefits, costs and liability alone. Third parties refer to a person who is not a party, a related business or a related entity of a related party or company participating in this agreement. Title Area: The total area within the Oil-colored securities in Schedule 2 on the Schedule 2 “title zone” map (if any), including the area within other additional securities or territories that are the subject of an application or acquisition for the purposes of this agreement. Year of the title: a 12-month period beginning from the start date of the oil stock in question. a fair transfer price for participation at the time of an offer to sell accepted on terms to be negotiated in good faith and agreed by participants; or in the case of a contract, as determined by an expert appointed pursuant to this agreement, net of all amounts accrued to the operator or other participants under this agreement, including interest at the agreed interest rate, and the total amount of liability of the assigning participant for the performance of the existing liabilities, reasonably set by the operator at the time of payment. Ultimate Holding Company means an ultimate holding company within the meaning of the Corporations Act. The unanimous vote refers to a resolution on the issues covered by Schedule 1 or otherwise specified in this agreement, which is voted on by all representatives entitled to vote at a meeting in accordance with this agreement, excluding the votes of a participant who fails to do so. Unpaid funds are funds signed under this agreement and include financial compensation and damages payable by a defaulting member that are agreed, allocated or determined as a result of an unsettled breach default event as long as it is not paid, as well as interest and fees to be paid or paid in accordance with this agreement. Dufault`s unpaid event is a participant`s failure to pay unpaid monies on the due date or before the due date.
Intentional misconduct means any act or not intended to cause the foreseeable consequences of such an act or inaction or to cause reckless contempt or wilful indifference. the year refers to the year indicated in Schedule`s interpretation in this agreement, unless the context does not require anything else: (e) the singular contains the plural and vice versa; Titles have no influence on the interpretation of this agreement; a reference to a party, a party to this agreement, as it appears on page 1 of this agreement, and includes the executors, directors, substitutes, successors and beneficiaries of the transfer of that part; References to a party, clause, schedule, exhibition and appendix relate to a party, clause, schedule, exhibition or appendix in or on the appendix; a reference to this agreement includes all schedules, parts and annexes to this operating agreement for the AMPLA Model Petroleum Joint, Approved Version 1, Sample Joint Venture Agreement March 2010, this joint venture agreement (jva) is concluded by and between the parties identified in the attached submission. International trade center trade law series itc contractual joint venture model agreements geneva 2004 ii abstract for trade information services 2004 f-03.10.02 itc international trade center unctad/wto itc contractual joint venture model… 11 that (or an affiliate) refers to a Breach Default event. The delivery point indicates where the operator provides a subscriber with the authorization he or she has obtained from the oil titles, as defined from time to time by the Works Council.