Decommissioning Obligations Sample Clauses
The Decommissioning Obligations clause sets out the responsibilities of a party, typically the operator or owner, to safely dismantle, remove, and restore a site or facility at the end of its operational life. This clause often details the required standards for decommissioning, timelines for completion, and may require the posting of financial security to ensure the work is performed. Its core function is to ensure that decommissioning is carried out properly, preventing environmental harm and allocating the costs and duties associated with site closure.
POPULAR SAMPLE Copied 3 times
Decommissioning Obligations. Notwithstanding anything to the contrary within the Assignment Documents or this Agreement (other than the proviso to this Clause 6.4), the Purchaser will be responsible for and shall indemnify, defend and hold the Seller and its Associated Parties harmless from and against all duties, liabilities, obligations, costs (including legal costs) and Claims arising in respect of decommissioning all of the property related to the Interests (which shall be deemed to include any residual liability for making safe, maintaining, monitoring and insuring) whether the same are incurred under the terms of the relevant Licence and the other Licensed Interest Documents or under any applicable laws (including the requirements of laws enacted after the Economic Date) and regulations, guidelines, custom and practice (the “Decommissioning Obligations”) to the extent that any Decommissioning Obligations are attributable to the Interests, whether arising before, on or after the Economic Date and regardless of whether resulting from any acts or omissions, negligence or breach of duty, whether statutory or otherwise, conduct or statements of the Seller or its Associated Parties or any of them, including:
6.4.1 the plugging, replugging, and abandoning of all ▇▇▇▇▇ associated with the Interests, whether drilled or plugged before on or after the Economic Date;
6.4.2 removing and disposing of any and all terminals, facilities, platforms, structures, equipment, umbilicals and pipelines comprising part of or related to the Interests, including the disposal of the same contaminated with naturally occurring radioactive material; and
6.4.3 compliance with the provisions of the Licence, the other Licensed Interest Documents and all applicable laws and government rules, regulations, orders and requirements associated with the abandonment of all ▇▇▇▇▇ and the Interests Area. Provided that nothing in this Clause 6.4 shall require the Purchaser to reimburse the Seller or its Associated Parties for any decommissioning costs incurred by the Seller or its Associated Parties before the Economic Date.
Decommissioning Obligations. Except as set forth on Schedule 10.1(q), Seller represents as follows with respect to the Properties for which Seller acts as operator:
(i) there are no ▇▇▇▇▇ that constitute a part of the Properties (A) in respect of which Seller has received an order from any Governmental Authority requiring that such ▇▇▇▇▇ be plugged and abandoned within eighteen (18) months after the Signing Date; or (B) that are neither in use for purposes of production or injection, nor suspended or temporarily abandoned in accordance with applicable Law, that, in each case, have not been plugged and abandoned in all material respects in accordance with applicable Law;
(ii) Seller has not received an order from any Governmental Authority requiring that any Decommissioning activities take place with respect to the Properties within eighteen (18) months after the Signing Date other than any such Decommissioning activities that have been completed in all material respects in accordance with applicable Law; and
(iii) To Seller’s Knowledge, all Decommissioning activities conducted with respect to the Properties have been performed in all material respects in accordance with all applicable Leases, the Material Contracts and all applicable Laws.
Decommissioning Obligations. In the event that ▇▇▇▇▇▇ fails to timely fulfill the Decommissioning Obligations, then Lessor shall be entitled to file a claim, or multiple claims, against the bond required under Section 5.3 to obtain the funds necessary to complete the Decommissioning Obligations. In addition to and without limiting the foregoing, any property on the Premises after the Decommissioning Period shall become the property of ▇▇▇▇▇▇ and ▇▇▇▇▇▇ shall immediately, upon demand, reimburse Lessor for all of ▇▇▇▇▇▇’s costs incurred in connection with removing and disposing of the Solar Facilities. In the event Lessee fails so to remove any such components of the Solar Facilities or fails to repair any such damage to the Premises or Remaining Lessor Property, Lessor may perform such work and collect from Lessee the cost of such work.