Delivery of Release. At the closing of the initial public offering of Monterey, Monterey shall execute and deliver to Santa Fe a release (in a form acceptable to Santa Fe) that releases any and all rights Monterey may have to seek contribution or reimbursement for amounts borrowed by Santa Fe under the $75 million Credit Facility between Santa Fe and Monterey, as borrowers, and The Chase Manhattan Bank, as agent for the lenders that are parties to the Credit Facility.
Appears in 4 contracts
Samples: Conveyance and Contribution Agreement (Monterey Resources Inc), Conveyance and Contribution Agreement (Monterey Resources Inc), Conveyance and Contribution Agreement (Monterey Resources Inc)
