Abandonment Obligation Sample Clauses

Abandonment Obligation. The CONTRACTOR shall have the obligation to comply with the requirements of the Environmental Law. The CONTRACTOR shall be liable for the costs and expenses of abandoning the Facilities and restoring the site locations of such Facilities (Abandonment) in accordance, with the Abandonment Plan.
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Abandonment Obligation. Should Farmoutor elect not to take over a well, Farmoutee shall, at the cost and risk of the participating parties to the extent of that participation by each, proceed to temporarily abandon any well it reentered but shall permanently abandon any new drill, unless Farmoutor advises Farmoutee to temporarily abandon such new drill well.
Abandonment Obligation. (ii) The Borrower may grant a security interest and assignment of the production proceeds from the West Cote Xxxxxxx Xxx property purchased from Texaco in favor of Texaco to secure an aggregate amount of up to $15,000,000 incurred in connection with the Texaco Plugging and Abandonment Obligation and the Escrow Obligation."

Related to Abandonment Obligation

  • Assignment Obligation Each Party shall cause all Persons who perform activities for such Party under this Agreement to be under an obligation to assign their rights in any Inventions resulting therefrom to such Party.

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • Client Obligations 3.1 The Client shall:

  • Joint Obligation If there be more than one Tenant, the obligations hereunder imposed shall be joint and several.

  • Development Obligations 1. The College supports the development, production, and dissemination of copyrightable, trademarkable, patentable, and other intellectual properties by its employees.

  • Independent Obligation The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor or the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other Guarantor or the Borrower and whether or not any other Guarantor or the Borrower is joined in any such action or actions.

  • Payment Obligation (a) The Subscriber shall bear the obligation to pay the Service Fee to SORACOM from the day when SORACOM starts to provide the Subscriber with the telecommunication channel pursuant to this Agreement.

  • Indemnity for Government Obligations The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations.

  • Payment Obligations Absolute The Company’s obligation during and after the Employment Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or anyone else. Except as provided in Section 15, all amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or from whomsoever may be entitled thereto, for any reason whatsoever.

  • Unpaid Reimbursement Obligation Any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Banks on the date specified in, and in accordance with, Section 4.2.

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