Common use of ASSIGNMENT; ABANDONMENT Clause in Contracts

ASSIGNMENT; ABANDONMENT. 9.1 To the extent that option rights under this Agreement have not yet become exercisable, the rights and obligations under this Agreement shall be assigned only to: a. an affiliate of the assigning party; or b. a third party (with the prior consent of the other parties hereto which shall not be unreasonably withheld in the case of a technically and financially competent assignee) provided that such third party also receives assignment of all the Usufruct rights of the assigning party which are still subject to option rights of the other parties hereto. After exercise (or expiry, as the case may be) of any option granted hereunder, the rights of the participating parties in any Usufruct shall be governed by the Operating Documents which apply to that Usufruct. 9.2 Each party to this Agreement may exercise its rights and perform its obligations hereunder through one or more subsidiaries or affiliates, in which case the term "APACHE", "POGC" or "FXEN", as applicable, shall be deemed to refer to and include such subsidiaries or affiliates.

ASSIGNMENT; ABANDONMENT. 9.1 To the extent that option rights under this Agreement have not yet become exercisable, the rights and obligations under this Agreement shall be assigned only to: a. an affiliate of the assigning party; or b. a third party xxxxx (with the prior consent of the other parties hereto which shall not be unreasonably withheld in the case of a technically and financially competent assignee) provided that such third party also receives assignment of all the Usufruct rights of the assigning party which are still subject to option rights of the other parties hereto. After exercise (or expiry, as the case may be) of any option granted hereunder, the rights of the participating parties in any Usufruct shall be governed by the Operating Documents which apply to that Usufruct. 9.2 Each party to this Agreement may exercise its rights and perform its obligations hereunder through one or more subsidiaries or affiliates, in which case the term "APACHE", "POGC" or "FXEN", as applicable, shall be deemed to refer to and include such subsidiaries or affiliates.