Should the submission of a Development Plan be approved in accordance with clause 6.7, or should any Party propose (but not yet have the right to commence) a development in accordance with this clause 7 where neither the Development Plan nor the development proposal call for the conduct of additional appraisal drilling, and should any Party wish to drill an additional Appraisal Well prior to development, then the Party proposing the Appraisal Well as an Exclusive Operation shall be entitled to proceed first, but without the right (subject to the following sentence) to future reimbursement pursuant to clause 7.5. If such an Appraisal Well is produced, any Consenting Party shall own and have the right to take in kind and separately dispose of all of the Non-Consenting Party’s Entitlement from such Appraisal Well until the value received in sales to purchasers in arm-length transactions equals one hundred percent (100%) of such Non-Consenting Party’s Participating Interest shares of all liabilities and expenses that were incurred in any Exclusive Operations relating to the Appraisal Well. Following the completion of drilling such Appraisal Well as an Exclusive Operation, the Parties may proceed with the Development Plan approved pursuant to clause 5.10, or (if applicable) the Parties may complete the procedures to propose an Exclusive Operation to develop a Discovery. If, as the result of drilling such Appraisal Well as an Exclusive Operation, the Party or Parties proposing to develop the Discovery decide(s) not to do so, then each Non-Consenting Party who voted in favor of such Development Plan prior to the drilling of such Appraisal Well shall pay to the Consenting Party the amount such Non-Consenting Party would have paid had such Appraisal Well been drilled as a Joint Operation.

expressly agrees and acknowledges that Administrative Agent # does not make any representation or warranty as to the accuracy of any Report, appraisal or financial statement or # shall not be liable for any information contained in any Report, appraisal or financial statement;

“Inventory Appraisal” has the meaning specified in [Section 7.4(c)].

drilling and/or Testing of Exploration Wells and Appraisal Wells;

“Appraisal” has the meaning set forth in [Section 5.1.28] hereof.

Any disputes between the Parties with respect to the identification and analysis of causes for quality problems may be submitted to a third party acceptable to both Parties for appraisal, and the costs arising from such third-party appraisal shall be borne by the responsible party.

“Appraisal Notice” has the meaning given such term in Section 5.03(b).

If the Operating Committee determines that the Discovery merits appraisal, Operator within one hundred (100) Days, or earlier if necessary to meet any applicable deadline under the PSC. shall deliver to the Parties a proposed Work Program and Budget for the appraisal of the Discovery. Within thirty (30) Days of such delivery, or earlier if necessary to meet any applicable deadline under the PSC, the Operating Committee shall meet to consider, modify and then either approve or reject the appraisal Work Program and Budget.

Rolling Stock that has not been the subject of a Rolling Stock Appraisal;

·“Appraisal Rights” has the meaning provided for in [Section 262] of the DGCL.