Change of Operator Requirements Sample Clauses

Change of Operator Requirements. If ASSIGNEE is attempting to succeed ASSIGNOR as operator of any portion of the Property, ASSIGNEE shall promptly file all appropriate forms, declarations or bonds with federal and state agencies relative to its assumption of operations.
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Change of Operator Requirements. Buyer shall comply with all applicable laws, ordinances, rules and regulations, orders, terms of permits and authorizations of any governmental or Tribal body which may have jurisdiction with respect to the Interests to be transferred hereunder (including, without limitation, the filing with such governmental and Tribal bodies of any and all compliance reports, notices, or other compliance documents which are due after the Closing Date regardless of the period covered by such reports, notices or documents) and shall promptly obtain and maintain all permits and bonds required by public authorities in connection with the Interests.
Sample 1
Change of Operator Requirements. Buyer shall use its best efforts to succeed Seller as operator of those portions of the Property for which Seller serves as operator. In connection therewith, Buyer shall promptly file all appropriate forms, declarations and bonds (or other authorized forms of security) with all applicable federal and state agencies relative to its assumption of operations. Buyer shall furnish to Seller copies of all approvals, in the form granted by such federal and state agencies, relative to Buyer’s assumption of operations, as soon as such approvals become available. In no event does Seller provide any warranty or other assurance that Buyer will succeed Seller as operator of any portion of the Property.
Sample 1
Change of Operator Requirements. Contributee shall comply with all applicable laws, ordinances, rules and regulations, orders, terms of permits and authorizations of any governmental authority which may have jurisdiction with respect to the Interests to be transferred hereunder (including, without limitation, the filing with such governmental authorities of any and all compliance reports, notices, or other compliance documents which are due after the date hereof regardless of the period covered by such reports, notices or documents), and shall promptly obtain and maintain all permits and bonds required by governmental authorities in connection with the Interests. Specifically, promptly after the date hereof, Contributee shall make application to the applicable governmental authorities, on such forms as such governmental authorities require, for the transfer of all wxxxx included in the Interests from the account and bond of Contributor to the account and bond of Contributee. Contributor shall reasonably cooperate, at Contributee’s expense, with Contributee in connection with such actions. If approval by any governmental authority for the transfer of any such well is delayed or not approved because same has been out of production for a period in excess of twelve months, Contributee agrees to promptly take such action as may be required by such governmental authority to produce or plug same. Contributee further agrees that to the extent any such wxxxx have been out of production for a period in excess of twelve months, Contributee shall affirmatively note on such application that Contributee will bring same into compliance by producing or plugging same within 120 days of approval of the application.
Sample 1
Change of Operator Requirements. 28 7.5.4 Further Assurances. . . . . . . .29 ARTICLE 8.
Sample 1
Change of Operator Requirements. If PURCHASER is attempting to succeed SELLER as operator of any portion of the Property, PURCHASER shall promptly file all appropriate forms, declarations and bonds (or other authorized forms of security) with all applicable federal and state agencies (including, without limitation, U.S. Bureau of Land Management, Wyoming Oil and Gas Commission, Wyoming Office of State Lands, Wyoming State Engineers Office, and Wyoming Department of Environmental Quality) relative to its assumption of operations. PURCHASER shall furnish to SELLER copies of all approvals, in the form granted by such federal and state agencies, relative to PURCHASER'S assumption of operations, as soon as such approvals become available. Where a vote is required under a joint operating or other agreement to determine what party will succeed SELLER as operator of a Property, SELLER shall comply with all balloting procedures under such operating agreements for the election of the successor operator to SELLER. SELLER shall recommend to all working interest owners in the Property involved that PURCHASER be elected operator and SELLER shall vote for PURCHASER as operator if SELLER retains in interest in the Property after Closing.
Sample 1
Change of Operator Requirements. If BUYER is attempting to succeed SELLER as operator of any portion of the Property, BUYER shall promptly file all appropriate forms, declarations and bonds (or other authorized forms of security) with all applicable state agencies relative to its assumption of operations. BUYER shall furnish to SELLER copies of all approvals, in the form granted by such state agencies, relative to BUYER’s assumption of operations, as soon as such approvals become available.
Sample 1
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Change of Operator Requirements. Buyer shall use its best efforts to have Zarvona Energy LLC succeed the Sellers as operator of those portions of the Assets for which a Seller serves as operator. In connection therewith, Buyer shall promptly file all appropriate forms, declarations and bonds (or other authorized forms of security) with all applicable federal and state agencies relative to its assumption of operations. Buyer shall furnish to the Company copies of all approvals, in the form granted by such federal and state agencies, relative to Buyer’s assumption of operations, as soon as such approvals become available. In no event do the Sellers provide any warranty, covenant or other assurance that Buyer will succeed any Seller as operator of any portion of the Assets as the Assets or portions thereof may be subject to operating or other agreements that control the appointment of a successor operator.
Sample 1

Related to Change of Operator Requirements

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Maintenance of Operations The Company shall maintain operations at the Project for a minimum of ten (10) years beginning on the date the Project is Placed in Service. In addition to any other rights the Department may have under the terms of this Agreement, in the event that the Company discontinues of operations at the Project, such discontinuation may subject the Company to certain statutory provisions, including:

  • Hours of Operation Tenant will carry on its business diligently and continuously in the Premises and will keep the Premises open for business not less than sixteen (16) consecutive hours each day seven (7) days per week, including holidays. Director or his/her representative may, from time to time, change such required hours of operation, in which event, Tenant will remain open during such revised hours. Similarly, Tenant may, from time to time, request to revise its hours of operation. Such change must be approved by Director or his/her representative, in writing, prior to its occurrence. Tenant may not, at any time, vacate or abandon the Premises.

  • Change in Capital Requirements If a Lender shall have determined that, on or after the date hereof, the adoption of any Requirement of Law regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, in each case that becomes effective after the date hereof, has or would have the effect of reducing the rate of return on capital of a Lender (or its parent) as a consequence of a Lender’s obligations hereunder or the Loans to a level below that which a Lender (or its parent) could have achieved but for such adoption, change, request or directive by an amount reasonably deemed by it to be material, then Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender (or its parent) for such reduction.

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

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