Abandonment Obligations. As additional consideration for the sale of the Assets, Assignee shall assume and timely and fully satisfy Assignor's share of the Abandonment Obligations (as defined below) associated with the Wells. As used herein, the term "Xxxxxonment Obligations" shall mean and include those obligations, defined by regulation as of the Effective Date, associated with and liability for (i) the plugging and abandonment of the Wells, (ii) the removal of pipelixxx used in connection with the Assets, and (iii) the clearance, restoration and remediation of the surface and cleanup and complete reclamation of the Leases associated with the Wells.
Abandonment Obligations. Buyer assumes and shall timely and fully satisfy Seller’s Abandonment Obligations (as defined below) associated with the Assets as set forth in Schedule 4.1. As used herein, the term “Abandonment Obligations” shall mean and include those obligations of Seller associated with and liability for (i) the plugging and abandonment of the Wxxxx, (ii) the removal of caissons and pipelines used in connection with the Wxxxx, and (iii) the clearance, restoration and remediation of the surface and cleanup and complete reclamation of the portion of the Leases associated with the Wxxxx.
Abandonment Obligations. As additional consideration for the purchase of the Assets by Buyer, Buyer shall assume and timely and fully satisfy Seller’s share of the Abandonment Obligations (as defined below) associated with the Assets. As used herein, the term “Abandonment Obligations” shall mean and include those obligations, defined by regulation as of the Effective Date, associated with and liability for (i) the plugging and abandonment of the Xxxxx, (ii) the removal of caissons and pipelines used in connection with the Xxxxx, and (iii) the clearance, restoration and remediation of the surface and cleanup and complete reclamation of the sea floor portion of the Leases associated with the Xxxxx.
Abandonment Obligations. Those obligations defined in SECTION 9.06(a).
Abandonment Obligations. Except as set forth on Schedule 4.1, to Seller’s knowledge, there are no Abandonment Obligations with respect to the Leases.
Abandonment Obligations. 7 4.2 Contract Obligations.................................................7 4.3 Buyer's General Indemnification......................................8 4.4 Seller's General Indemnification.....................................8 4.5 Assumption and Indemnification of Environmental Risk and Environmental Liabilities by Buyer...................................9 4.6
Abandonment Obligations. Buyer assumes and shall timely and fully satisfy Seller's share of the Abandonment Obligations (as defined below) associated with the Assets. As used herein, the term "Abandonment Obligations" shall mean and include those obligations, defined by regulation as of the Effective Date, associated with and liability for (i) the plugging and abandonment of the Wells, (ii) the removal of pipelixxx xsed in connection with the Wells, and (iii) the clearance, rexxxxxtion and remediation of the surface and cleanup and complete reclamation of the Leases associated with the Wells.
Abandonment Obligations. Seller shall continue to operate the Assets on behalf of Buyer after Closing pursuant to an industry standard operating agreement and shall continue to be responsible for timely and fully satisfying all Abandonment Obligations (as defined below) associated with the Assets. As used herein, the term “Abandonment Obligations” shall mean and include all obligations associated with and liability for (i) the plugging and abandonment of the Xxxxx, (ii) the removal of structures, facilities, foundations, wellheads, tanks, pipelines, flowlines, pumps, compressors, separators, heater treaters, valves, fittings and equipment and machinery of any nature located on or used in connection with the Assets, and (iii) the clearance, restoration and remediation of the surface and cleanup of the lands covered by the Leases associated with the Assets.
Abandonment Obligations. Defined in Section 10.7(a).
Abandonment Obligations. Defined in SECTION 11.09(A).
