Covenants Regarding the Incurrence of Indebtedness. (a) WPX hereby covenants and agrees that, for so long as WMB is required to consolidate the results of operations and financial position of WPX and any other members of the WPX Group or to account for its investment in WPX under the equity method of accounting (determined in accordance with GAAP consistently applied and consistent with SEC reporting requirements), WPX will not, and WPX will not permit any other member of the WPX Group to, without WMB’s prior written consent (which WMB may withhold in its sole and absolute discretion), create, incur, assume or suffer to exist any WPX Indebtedness (other than the WPX Borrowing).
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.)
