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Abandonment of Wellx Sample Clauses

Abandonment of Wellx. Xx the best of the information, knowledge and belief of the Vendor, each well located on the Lands which has been abandoned has been plugged and abandoned, and the wellsite therefore properly restored, in accordance with generally accepted industry practices and in full compliance with existing Regulations;
Abandonment of Wellx. If a well has produced, excluding the interest of any Non-Consenting Party, it shall not be plugged and abandoned without the consent of all Parties. If all Parties consent to the plugging and abandonment, such action shall be at the cost, risk and expense of all the Parties. Should Operator, after diligent effort, be unable to contact any party, or should any party fail to reply within forty-eight (48) hours after receipt of notice of the proposal to plug and abandon such well, such party shall be deemed to have consented to the proposed abandonment. If a well has produced, excluding the interest of any Non-Consenting Party, shall not be plugged and abandoned without the consent of all Parties. If all Parties consent the plugging shall be at the cost, risk and expense of all the Parties. If, within thirty (30) days, after receipt of the notice to plug and abandon, any party elects not to consent to the plugging of the well, then said party shall assume operation of the well and pay the Parties consenting to the plugging and abandonment the estimated salvage value less the estimated cost to plug and abandon the well. Each abandoning party shall assign, without warranty, express or implied, of any kind or nature, all its interest in the well. Thereafter the abandoning Parties shall have no further responsibility, liability, or interest in the operation of or production from the well. All wellx xxxll be plugged and abandoned in accordance with all governmental rules and regulations.
Abandonment of Wellx. (a) Until the termination of the Overriding Royalty, Grantors shall not, without first obtaining the written consent of Grantee, abandon any well heretofore or hereafter completed for production of Hydrocarbons on any of the lands covered by or attributable to the Subject Interests or surrender, abandon or release any Lease or Subject Interest or any part thereof; provided, without the consent of Grantee: (i) If and when, in Grantors' reasonable judgment, exercised in good faith and as would a prudent operator not burdened by the Overriding Royalty, a well becomes no longer capable of producing Hydrocarbons in paying quantities (without regard to the burden of the Overriding Royalty) and it would not be economically feasible (without regard to the burden of the Overriding Royalty) to restore the productivity of such well by reworking, reconditioning, deepening, plugging back or otherwise, Grantors shall have the right to abandon such well, subject to the provisions of Section 12(c). (ii) Subject to the provisions of Section 12(c), Grantors shall have the right to surrender and release any Subject Interest or part thereof when, in the reasonable judgment of Grantors exercised in good faith and as would a prudent operator not burdened by the Overriding Royalty, there is no well located thereon which is capable of producing Hydrocarbons in paying quantities and the drilling of an additional well thereon would not, in Grantors' reasonable opinion, be economically feasible (without regard to the burden of the Overriding Royalty). (iii) Subject to the provisions of Section 12(c), Grantors shall have the right to abandon or release any Subject Interest or well related thereto that has a discounted net present value (as determined by the most recent reserve report delivered by Grantors to Grantee hereunder) of no more than $50,000; provided, however, that Grantors shall not 63 release or abandon Subject Interests or wellx xxxated thereto that have an aggregate discounted net present value (as determined by the most recent reserve report delivered by Grantors to Grantee hereunder) in excess of $500,000 during any calendar year. (b) For all purposes of this Agreement, (i) a well shall be deemed to be capable of producing Hydrocarbons "in paying quantities" unless and until there arises a condition which reasonably appears to be permanent, such that the aggregate value of the Hydrocarbons which are being produced or which it reasonably appears will be produced from s...
Abandonment of Wellx xx respect of those portions of the Assets where Vendor is Operator and in respect of other portions of the Assets to the best of Vendor's knowledge, all Wellx xxxated on the Lands or lands with which the Lands have been pooled or unitized which have been abandoned have been properly plugged and abandoned and the wellsite therefore properly restored in accordance with good oilfield practice and in material compliance with the Regulations;
Abandonment of Wellx. Until the termination of the Production Payment, Grantor shall not, without first obtaining the written consent of Grantee, abandon any Subject Well or surrender, abandon or release any of the Subject Properties or Subject Interests or any part thereof; provided, without the consent of Grantee:
Abandonment of Wellx. To Vendor's knowledge there are no wellx xxxated on the Lands which have been abandoned or have been plugged and abandoned and the well-site properly restored in accordance with good oil and gas field practices and the material requirements of all applicable laws or regulations;

Related to Abandonment of Wellx

  • Abandonment of Position An employee who fails to report for duty for three consecutive working days without informing the Employer of the reason for their absence will be presumed to have abandoned their position. An employee will be afforded the opportunity within 10 days to rebut such presumption and demonstrate that there were reasonable grounds for not informing the Employer.

  • Abandonment If the assigned bedroom space or an apartment is abandoned or Resident’s right to use them has been terminated, Owner may, without notice, secure the bedroom space and/or apartment with new locks, store or dispose of any personal property left in the bedroom space or apartment by Resident or Resident's Guests, and re-assign the bedroom space and/or apartment to others for use. Any such abandoned property or personal possessions will be stored and disposed of by Owner as provided by law. Owner, in its sole reasonable discretion in accordance with applicable law, will determine when a bedroom and/or apartment is abandoned, which may take into consideration any one of the following: the removal of personal property from the bedroom space other than in the usual course of continuing use, the failure to pay housing charges or other charges, discontinuance of any utility service, and failure to respond to any notices, phone calls, or correspondence from Owner or its representatives.

  • Abandonment of Premises If the property becomes vacant during the term of this lease, and if at the time of the vacancy Tenant are in default in the payment of any installment of rent, then the rent for the entire term shall become at once due and payable and Landlord may proceed to collect rent for said entire premises, with or without process of law, to take possession thereof, to remove any and all property there from and store as required by law, to lease the premises as agent of Tenant, and to apply the proceeds received from such letting toward the payment of Tenant' rent under this lease; such re-entry and re-letting shall not discharge Tenant from liability for rent, nor from any other obligation under the terms of this lease.

  • Abandonment of Property We need not accept any property abandoned by an "insured".

  • Job Abandonment A. If an employee is absent without authorized leave under the provisions of Article 17.1.D for twelve (12) or more consecutive days, the employee shall be considered to have abandoned the position and voluntarily resigned from the University. B. Notwithstanding Article 16.7(A), above, if the employee's absence is for reasons beyond the control of the employee and the employee notifies the University as soon as practicable, the employee will not be considered to have abandoned the position.

  • Abandonment or Default If Provider abandons work or defaults on the Contract, the GLO may terminate the Contract without notice. Provider will not be considered in any re-solicitation of the services described herein and may not be considered in future solicitations for similar services, unless the specification or scope of work changes significantly. The GLO will determine the period of suspension based on the seriousness of the abandonment or default.

  • Termination or Abandonment Notwithstanding anything in this Agreement to the contrary, this Agreement may be terminated and abandoned at any time prior to the Effective Time: (a) by the mutual written consent of the Partnership and Parent; (b) by either the Partnership or Parent, if the LP Merger shall not have been consummated on or prior to April 25, 2022 or such later date as may be agreed in writing by Parent and the Partnership (following approval by the Conflicts Committee) (the “End Date”); provided, however, that if all of the conditions to Closing, other than any of the conditions set forth in Section 6.1(b) or Section 6.1(c), shall have been satisfied or shall be capable of being satisfied at such time, the End Date shall automatically be extended to October 25, 2022, which date shall thereafter be deemed to be the End Date; provided, further, that the right to terminate this Agreement pursuant to this Section 7.1(b) shall not be available to a party if the failure of the Closing to occur by such date shall be primarily due to the material breach by such party of any representation, warranty, covenant or other agreement of such party set forth in this Agreement; (c) by either the Partnership or Parent, if an injunction or other Law shall have been entered, enacted or become effective permanently restraining, enjoining or otherwise prohibiting the consummation of the Mergers and such injunction or other Law has become final and nonappealable; provided, however, that the right to terminate this Agreement under this Section 7.1(c) shall not be available to a party if such injunction or Law was due to the material breach by such party of any representation, warranty, covenant or other agreement of such party set forth in this Agreement; (d) by the Partnership, if Parent, Merger Sub or GP Merger Sub shall have breached or failed to perform any of its representations, warranties, covenants or other agreements contained in this Agreement, which breach or failure to perform (i) if it occurred or was continuing to occur on the Closing Date, would result in a failure of a condition set forth in Section 6.2(a) or Section 6.2(b) and (ii) by its nature, cannot be cured prior to the End Date or, if such breach or failure is capable of being cured by the End Date, Parent does not cure such breach or failure within thirty (30) days after receiving written notice from the Partnership describing such breach or failure in reasonable detail (provided that the Partnership may not exercise the termination right pursuant to this Section 7.1(d) if it is then in material breach of any representation, warranty, covenant or other agreement contained herein); (e) by Parent, if the Partnership or the General Partner shall have breached or failed to perform any of its representations, warranties, covenants or other agreements contained in this Agreement, which breach or failure to perform (i) if it occurred or was continuing to occur on the Closing Date, would result in a failure of a condition set forth in Section 6.3(a) or Section 6.3(b) and (ii) by its nature, cannot be cured prior to the End Date or, if such breach or failure is capable of being cured by the End Date, the Partnership or the General Partner, as applicable, does not cure such breach or failure within thirty (30) days after receiving written notice from Parent describing such breach or failure in reasonable detail (provided that Parent may not exercise the termination right pursuant to this Section 7.1(e) if it is then in material breach of any representation, warranty, covenant or other agreement contained herein); and (f) by either the Partnership or Parent, if the Support Agreement is terminated in accordance with Section 2.1 thereof.

  • Abandonment of Employment Where an employee absents him/herself from work for a continuous period exceeding three working days without the consent of the employer and without notification to the employer, and without good cause, he/she shall be deemed to have terminated his/her employment without notice.

  • Occupancy After Foreclosure Any sale of the Mortgaged Property or any part thereof will divest all right, title and interest of Mortgagor in and to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Mortgagor retains possession of such property or any part thereof subsequent to such sale, Mortgagor will be considered a tenant at sufferance of the purchaser, and will, if Mortgagor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

  • Restoration of Rights on Abandonment of Proceedings In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in every such case the Issuer and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the Securityholders shall continue as though no such proceedings had been taken.