Change in Circumstances; Casualty Loss. (a) Buyer shall assume all risk of loss with respect to, and any change in the condition of, the Assets from the Effective Time until the Closing, including with respect to the depletion of Hydrocarbons, the watering-out of any well, the collapse of casing, sand infiltration of xxxxx and damage to and depreciation of property, including normal wear and tear.
Change in Circumstances; Casualty Loss. (a) Provided the Closing occurs, on and after the Effective Date, Buyer shall assume all risk of loss with respect to a loss of any part of the Assets due to any of the following events, but only to the extent that the occurrence of any such loss is not a result of a Casualty Loss and is not otherwise covered by an insurance policy of Seller or its Affiliates, and provided that Seller acts at all times in respect of the Assets in accordance with applicable Law and industry standards and, in any event, in a manner consistent with Seller’s prior practice and no less prudent than Seller acts in respect of its other assets and operations: (i) the collapse of casing and sand infiltration of xxxxx and other similar occurrences or changes; (ii) normal wear and tear; (iii) production declines, depletion and watering out and other similar occurrences or changes; and (iv) changes in commodities prices, credit markets, and other market factors or conditions.
