Conduct of WPX Business between Effective Date and Distribution Date. Subject to any additional restrictions in the Ancillary Agreements, during the period from the Effective Date through the Distribution Date, WPX covenants and agrees that the WPX Group as a whole will not, without WMB’s prior written consent (which WMB may withhold in its sole and absolute discretion): (a) acquire any businesses or other Assets, by means of merger, consolidation or otherwise, of any other Person, with an aggregate value of more than $50 million for all such acquisitions, (b) dispose of Assets held by the WPX Group, by sale or otherwise, with an aggregate value of more than $50 million for all such dispositions, or (c) acquire any equity or debt securities of any other Person, with an aggregate value of more than $50 million for all such acquisitions.
Appears in 4 contracts
Samples: Separation and Distribution Agreement (WPX Energy, Inc.), Separation and Distribution Agreement (WPX Energy, Inc.), Separation and Distribution Agreement (WPX Energy, Inc.)
