69 the management committee shall complete the

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6.9 The Management Committee shall complete the process of providing any decision or undertaking any monitoring required (including approvals required under Article 6.5 above) within a maximum period of one hundred and twenty (120) days, including seeking any clarifications that it may require from the Contractor(s). The decisions of the Management Committee shall be sought to be taken, in the first instance, unanimously. In case, unanimity is not achieved in the Management Committee within the stipulated one hundred and twenty (120) days, the decision of the Management Committee shall be the decision taken by the positive vote of: (i) the representative of the Contractor or the representatives of the Members having an aggregate Participating Interest of seventy percent (70%) or more (as applicable); and (ii) the representative of the Government. Where the decision could not be arrived in the Management Committee, the matter shall be referred by the Management Committee to the Government for decision, which decision shall be binding on all Parties to the Contract. 6.10 The Chairman or the Deputy Chairman, as may be the case, shall preside over the meetings of the Management Committee and, in their absence, any other member representing Government and present shall preside over the meetings. Secretary to the Management Committee shall be responsible, inter alia, for preparation of the minutes of every meeting in
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24 the English language and provision to every member of the Management Committee with two (2) copies of the minutes approved by the Chairman within three (3) Business Days of the meeting. 6.11 The meetings of the Management Committee shall be held in India. All expenses of the members of the Management Committee attending meetings shall be borne by the respective Party. 6.12 The Management Committee, if it considers necessary, may appoint legal, financial or technical subcommittees comprised of such representatives as may be agreed by the Management Committee to consider any matter requiring approval or decision of the Government. Such sub-committee expenses shall be borne by the Contractor. ARTICLE 7 OPERATORSHIP, JOINT OPERATING AGREEMENT AND OPERATING COMMITTEE 7.1 If the Contractor is a single entity then the Contractor shall be the Operator for the purpose of carrying out Petroleum Operations pursuant to this Contract during the term of the Contract and the provisions of Article 7.4 and 7.4.1 below shall not be applicable. 7.1.1 If the Contractor comprises of more than one Memberthen the Members comprising the Contractor shall appoint any one among them as the Operator in accordance with Article 7.4 below. Provided that , in the event an assignment of Participating Interest in accordance with Article 27 results in increase in the number of constituents of the Contractor, then the provisions of Article 7.4 and 7.4.1 shall apply from the date of such increase.
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  • Winter '14
  • Bijay K Behra
  • Government, Petroleum Operations, Contract Area

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