Abandonments. Grantor shall have the right, without the joinder of Grantee, to release, surrender and/or abandon the Subject Interests or any well located therein, or any part thereof or interest therein, in the ordinary course of business, even though the effect of such release, surrender or abandonment will be to release, surrender or abandon that portion of the Overriding Royalty Interest affected thereby to the same extent as though Grantee had joined with Grantor therein, (provided for clarity, this Section 3.1 shall not permit (i) any assignment of Grantor’s or its Affiliates’ Working Interests in any Subject Interests (which shall be permitted only as provided in Section 2.1(h)), or (ii) any release, surrender or abandonment for the primary purpose of causing or effecting a termination of any Overriding Royalty Interest). Grantee shall execute such documentation as is reasonably necessary to evidence the corresponding release, surrender or abandonment of that portion of the Overriding Royalty Interest affected thereby upon receipt of a written request and certification of an officer of Grantor that the release, surrender and/or abandonment is in the ordinary course of business and such documentation is necessary to evidence the corresponding release, surrender or abandonment from Grantor.
Abandonments. Grantor shall have the right, without the joinder of Grantee, to release, surrender and/or abandon the Subject Interests or any well located therein, or any part thereof or interest therein, even though the effect of such release, surrender or abandonment will be to release, surrender or abandon that portion of the Overriding Royalty Interest affected thereby to the same extent as though Grantee had joined with Grantor therein; provided, however, that Grantor shall not release, surrender or abandon any Subject Interest or any well located therein unless (a) Grantor has determined in good faith as a prudent operator that such well or Subject Interest is no longer capable of producing in paying quantities without taking into account the Overriding Royalty Interest or (b) such Subject Interest or well is required to be released, surrendered or abandoned in accordance with the terms of the applicable Lease or under applicable law, rule or regulation in the jurisdiction where such Subject Interest is located. In the event of any such release, surrender or abandonment of any Subject Interest or well as permitted hereby, upon the request of Grantor, Grantee shall execute such documentation as is reasonably necessary to evidence the corresponding release, surrender or abandonment of that portion of the Overriding Royalty Interest affected thereby.
Abandonments. Seller will not abandon any of the Assets without the advance written consent of Buyer, except as required by order, judgment or decree of a governmental authority.
Abandonments. After the Effective Date, Harken Colombia shall have the right without the consent of Investor to release, surrender and/or abandon its interest in the Subject Interests and/or any Association Contract, or any part thereof, or interest therein, in order to comply with the relinquishment provisions of the applicable Association Contract, even though the effect of such release, surrender or abandonment may be to affect adversely the Net Profits Interest. In the event of any relinquishment of acreage under an Association Contract, Harken Colombia shall have the exclusive authority to determine the acreage to be relinquished, which may be acreage within the Subject Interests or acreage outside the Subject Interests or both; provided, that, in taking any of the actions described in this Section 3.14, Harken Colombia shall act in good faith with respect to the interests of Investor and in accordance with the best interests of Investor under this Agreement as reasonably determined by Harken Colombia.
Abandonments. Should any Sole Risk Drilling resulting a well which is a dry hole or a well which ceases to produce prior to the recovery of the amounts described in Articles 26.7.1 and 26.7.2 ("Sole Risk Premiums"), it shall be plugged and abandoned at the sole cost and risk of the Sole Risk Party(ies). Such abandonment shall be effected in accordance with accepted oil field practice.
Abandonments. It shall not abandon any of the Properties without the advance written consent of PETROHAWK, except as is required by order, judgment or decree of a Governmental Authority or by an existing contractual obligation.
Abandonments. After the Commitment Period, Harken Colombia shall have the right without the consent of Investors to release, surrender and/or abandon its interest in the Subject Interests and/or the Association Contract, or any part thereof, or interest therein, even though the effect of such release, surrender or abandonment may be to affect adversely the Rio Negro NPI; provided, however, that (a) Investors' interest in the Rio Negro NPI shall automatically be converted into Preferred Shares pursuant to Article VI if, within two years after the expiration of the Commitment Period, Harken Colombia has released, surrendered and/or abandoned any portion of its interest in the Subject Interests and/or the Association Contract other than that required to be released, surrendered and/or abandoned for Harken Colombia to comply with the terms and conditions of the Association Contract and if Article VI shall otherwise then be applicable and (b) during the Commitment Period, Harken Colombia shall have the right without the consent of Investors to release, surrender and/or abandon that portion of the Subject Interests as shall be necessary for Harken Colombia to comply with the terms and conditions of the Association Contract.
Abandonments. Written notice with provision for timely rent payment is required if there shall be an intended absence from the Premises by Tenant. If at any time during the term of this Lease Agreement, Tenant abandons the Premises, Manager/Landlord may immediately enter the Premises by any means without liability to Tenant for damages and may re-rent the Premises, for the whole or any portion of the unexpired term, and may collect all rent payable by virtue of such re-renting, and hold Tenant liable for any difference between the rent that would have been payable under this Lease Agreement during the balance of the unexpired term if this Lease Agreement would had continued in force, and the net rent for such period realized by Landlord by means of such re-renting. The charges in § 16 shall apply if Tenant abandons the Premises. Manager/Landlord may also dispose of any of Tenant’s abandoned personal property as Manager/Landlord deems appropriate, without liability to Tenant. Manager/Landlord is authorized to consider that Tenant has abandoned the Premises if Tenant removed substantially all of Tenant’s furnishings from the Premises, if the Premises is left unoccupied for fifteen (15) days while rent is due and unpaid, or if it would otherwise be reasonable for Manager/Landlord to assume under the circumstances that the Tenant has abandoned the Premises.
Abandonments. Prior to releasing, surrendering or abandoning any portion of the Subject Interests, Grantee shall first offer in writing to reassign such interest to Grantor, with Grantor assuming all liability and obligations for such interest after such assignment. If Grantor does not accept the offer to reassign within 60 days from such offer, Grantee shall have the right without the joinder of Grantor to release, surrender and/or abandon its interest in the Subject Interests, or any part thereof, or interest therein even though the effect of such release, surrender or abandonment will be to release, surrender or abandon the Production Payment the same as though Grantor had joined therein insofar as the Production Payment covers the Subject Interests, or any part thereof or interest therein, so released, surrendered or abandoned by Grantee.
Abandonments. It shall not abandon any of the WCE Survivor Assets without the advance written consent of PETROHAWK, except as is required by order, judgment or decree of a Governmental Authority or existing contractual obligations.
