Continuing Obligations and Environmental Liabilities Sample Clauses
Continuing Obligations and Environmental Liabilities. On termination of the Business under Sections 13.1 or 13.2, each Participant shall remain liable for its respective share of liabilities to third persons (whether such arises before or after such withdrawal), including Environmental Liabilities and Continuing Obligations. The withdrawing Participant's share of such liabilities shall be equal to its Participating Interest at the time such liability was incurred, after first taking into account any reduction, readjustment, and restoration of Participating Interests under Sections 5.6, 8.5, 8.6 and 9.5 (or, as to liabilities arising prior to the Effective Date, its initial Participating Interest).
Continuing Obligations and Environmental Liabilities. During the Term of this Agreement and after termination or expiration under this Section 18, Lessee shall remain liable for liabilities to Owner and/or third parties arising out of or related to Lessee's use of and/or activities on the Property, including environmental liabilities and related bonding requirement. Lessee's liabilities and obligations shall include environmental damage and liabilities, which are caused by or as a result of work done on the Property as described in Section 6 of this Agreement. This provision shall survive expiration or termination of this Agreement.
Continuing Obligations and Environmental Liabilities. During the Term of this Agreement and after termination or expiration under this Section 19.3, EMMR shall remain liable for obligations to KEM and/or third parties arising out of or related to its use of the Access Rights, including liabilities arising out the violation of any Laws and Environmental Laws by EMMR. Similarly, KEM shall remain liable for liabilities to EMMR and/or third parties as provided in this Agreement with respect to any obligations incurred prior to the termination of this Agreement.
Continuing Obligations and Environmental Liabilities. During the term of this Agreement and after termination of the Property or this Agreement under Sections 8.1 and 8.2, WG shall remain liable for its liabilities to third parties (whether such arises before or after such withdrawal), including environmental liabilities and related bonding requirement. WG's liabilities shall include environmental damage and liabilities, which are caused by or as a result of work done on the Property.
Continuing Obligations and Environmental Liabilities. On dissolution of the Company under Section 14.1 of the LLC Agreement as Amended, each Member shall, as between the Members, remain liable for its respective share of liabilities to third parties (whether such arises before or after such dissolution), including Environmental Liabilities and Continuing Obligations. In the event of the resignation of a Member pursuant to Section 14.2 of the LLC Agreement as Amended, the resigning Member's share of such liabilities shall be equal to its Ownership Interest at the time such liability was incurred (or, as to liabilities arising prior to the Effective Date, its initial Ownership Interest).
Continuing Obligations and Environmental Liabilities. On termination of the Business under Sections 12.1, 12.2 or 12.3, each Participant shall remain liable for its respective share of liabilities to third persons (whether such arises before or after such withdrawal), including Environmental Liabilities and Continuing Obligations. The withdrawing Participant’s share of such liabilities shall be equal to (a) for MTM, its Participating Interest at the time such liability was incurred, after first taking into account any reduction, readjustment or restoration of its Participating Interest under Sections 6.3, 9.5, 9.6 and 10.5 (or, as to liabilities arising prior to the Effective Date, its initial Participating Interest), or (b) for EKT, its share of such liability determined pursuant to Subsection 5.2(c) at the time such liability was incurred (or, as to liabilities arising prior to the Effective Date, its share of such liabilities as initially determined pursuant to Subsection 5.2(c)). Should the cumulative cost of satisfying Continuing Obligations and Environmental Liabilities arising out of Operations conducted prior to such withdrawal be in excess of amounts contained in the Trust Account referred to and defined in the Collateral Trust Agreement, each of the Participants shall be liable for its proportionate share (for MTM, its Participating Interest at the time the act or omission giving rise to such liability occurred and for EKT, its share of such liability determined pursuant to Subsection 5.2(c) at the time the act or omission giving rise to such liability occurred) of the cost of satisfying such obligations, notwithstanding that either Participant has previously withdrawn from the Business. TABLE OF CONTENTS (continued) Page
Continuing Obligations and Environmental Liabilities. On dissolution of the Company under Section 14.1 of the LLC Agreement, each Member shall, as between the Members, remain liable for its respective share of liabilities to third parties (whether such arises before or after such dissolution), including Environmental Liabilities and Continuing Obligations. In the event of the resignation of a Member pursuant to Section 14.2 of the LLC Agreement, the resigning Member's share of such liabilities shall be equal to its Ownership Interest at the time such liability was incurred (or, as to liabilities arising prior to the Effective Date, its initial Ownership Interest). Nothing in this Section 4.2 shall be construed as applicable to the withdrawal or deemed withdrawal of TSHI prior to the Cut-Off Date, which shall be governed solely by Section 2.3 of this Agreement.
Continuing Obligations and Environmental Liabilities. On dissolution of the Company under SECTION 14.1 of the OA, each Member shall remain liable for ------------ its respective share of liabilities to third parties (whether such arises before or after such dissolution), including Environmental Liabilities and Continuing Obligations. In the event of the resignation of a Member pursuant to SECTION 14.2 of the OA, the resigning Member's share of such liabilities shall be equal to its Ownership Interest at the time such liability was incurred, after first taking into account any reduction, readjustment, and restoration of Ownership Interests under SECTIONS 4.4, 10.5, 10.6 and 11.5 of the OA (or, as to -------------------------------------- liabilities arising prior to the Effective Date, its initial Ownership Interest).
Continuing Obligations and Environmental Liabilities. Upon an assignment of interests in Permits and jointly-funded Assets under Section 9.2, and in the event a termination under Section 9.1, each Participant shall remain liable for its respective share of liabilities to third persons (whether such arises before or after such withdrawal), including Environmental Liabilities and Continuing Obligations.
Continuing Obligations and Environmental Liabilities. On dissolution of the Company under Section 14.1 of the LLC Agreement, each Member shall, as between the Members, remain liable for its respective share of liabilities to third parties (whether such arises before or after such dissolution), including Environmental Liabilities and Continuing Obligations. In the event of the resignation of a Member pursuant to Section 14.2 of the LLC Agreement, the resigning Members share of such liabilities shall be equal to its Ownership Interest at the time such liability was incurred (or, as to liabilities arising prior to the Effective Date, its initial Ownership Interest). Nothing in this Section 4.2 shall be construed as applicable to the withdrawal or deemed withdrawal of TSHI prior to the Cut-Off Date, which shall be governed solely by Section 2.3 of this Agreement. Grant of Lien and Security Interest. Subject to Section 4.4 hereof, each Member grants to the other Member a lien upon and a security interest in its Ownership Interest, including all of its right, title and interest in the Company and the Assets, whenever acquired or arising, and the proceeds from and accessions to the foregoing; provided, however, that this lien and security interest shall in no event apply to or burden any NSR royalty granted to TSVLP pursuant to Section 4.3 of the LLC Agreement. The Liens and security interests granted by Subsection 4.3(a) hereof shall secure every obligation or liability of the Member granting such lien or security interest to the other Member created under this Agreement or the LLC Agreement, including the obligation of the Member to repay an Elected Loan or a Demand Loan or to have its Ownership Interest adjusted as a result of failure to make such repayment. Each Member hereby agrees to take all action necessary to perfect such lien and security interest and hereby appoints the other Member its attorney-in-fact to execute, file and record all financing statements and other documents necessary to perfect or maintain such lien and security interest. Subordination of Interests. Each Member shall, from time to time, take all necessary actions, including execution of appropriate instruments and agreements, to pledge and subordinate its Ownership Interest, any Liens it may hold which are created under this Agreement other than those securing repayment of an outstanding Elected Loan or Demand Loan, and any other right or interest it holds with respect to the Company and the Assets (other than any statutory lien of the M...