Common use of Change of Purchaser Clause in Contracts

Change of Purchaser. Should any purchaser taking the production from the Mortgaged Property fail to make prompt payment to Mortgagee in accordance with the provisions of Section 6.1, Mortgagee shall have the right, at the expense of Mortgagor, to demand a change of connection and to designate another purchaser with whom a new connection may be made, without any liability on the part of Mortgagee in making such selection, so long as ordinary care is used in the making thereof. Promptly upon such demand, Mortgagor shall take all necessary and appropriate action to effect such change of connection.

Appears in 4 contracts

Samples: Deed of Trust, Security Agreement, Financing Statement and Assignment of Production (Lucas Energy, Inc.), Mortgage, Security Agreement, Financing Statement and Assignment of Production (High Plains Gas, Inc.), Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production (Primeenergy Corp)

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Change of Purchaser. Should any purchaser taking the production from the Mortgaged Property fail to make prompt payment to Mortgagee in accordance with the provisions of Section 6.16.01, Mortgagee shall have the right, at the expense of Mortgagor, to demand a change of connection and to designate another purchaser with whom a new connection may be made, without any liability on the part of Mortgagee in making such selection, so long as ordinary care is used in the making thereof. Promptly ; and promptly upon such demand, Mortgagor shall take all necessary and appropriate action to effect such change of connection.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Financing Statement and Assignment of Production (Fortune Natural Resources Corp)

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