Change of Purchaser. To the extent a default has occurred -------------------- hereunder and is continuing, should any person now or hereafter purchasing or taking Production fail to make payment promptly to Agent of the Production Proceeds, Agent shall, subject to then existing contractual prohibitions, have the right to make, or to require Mortgagor to make, a change of purchaser, and the right to designate or approve the new purchaser, and Agent shall have no liability or responsibility in connection therewith so long as ordinary care is used in making such designation.
Appears in 3 contracts
Samples: Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co), Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co), Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co)
Change of Purchaser. To the extent a default has occurred -------------------- hereunder and is continuing, should any person now or hereafter purchasing or taking Production fail to make payment promptly to Agent of the Production Proceeds, Agent shall, subject to then existing contractual prohibitions, have the right to make, or to require Mortgagor to make, a change of purchaser, and the right to designate or approve the new purchaser, and Agent shall have no liability or responsibility in connection therewith so long as ordinary care is used in making such designation.
Appears in 3 contracts
Samples: Credit Agreement (Chesapeake Energy Corp), Deed of Trust, Assignment, Security Agreement, Fixture Filing and Financing Statement (Pacific Energy Resources LTD), Deed of Trust, Assignment, Security Agreement, Fixture Filing and Financing Statement (Pacific Energy Resources LTD)
Change of Purchaser. To the extent applicable, and if a default has occurred -------------------- hereunder and is continuing, should any person now or hereafter purchasing or taking Production production related to any Pipeline System fail to make payment promptly to Agent of the Production Proceedsrelated production proceeds, Agent shall, subject to then existing contractual prohibitions, have the right to make, or to require Mortgagor to make, a change of purchaser, and the right to designate or approve the new purchaser, and Agent shall have no liability or responsibility in connection therewith so long as ordinary care is used in making such designation.
Appears in 2 contracts
Samples: Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (Quest Resource Corp), Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (Quest Resource Corp)
Change of Purchaser. To the extent applicable, and if a default has occurred -------------------- hereunder and is continuing, should any person now or hereafter purchasing or taking Production production related to any Pipeline System fail to make payment promptly to Administrative Agent of the Production Proceedsrelated production proceeds, Administrative Agent shall, subject to then existing contractual prohibitions, have the right to make, or to require Mortgagor to make, a change of purchaser, and the right to designate or approve the new purchaser, and Administrative Agent shall have no liability or responsibility in connection therewith so long as ordinary care is used in making such designation.
Appears in 1 contract
Samples: Credit Agreement (Blueknight Energy Partners, L.P.)
