Common use of Description of Obligations Clause in Contracts

Description of Obligations. Upon and after Closing, ASSIGNEE assumes full responsibility and liability for the following plugging and abandonment obligations related to the Property (the "Plugging and Abandonment Obligations"), regardless of whether they are attributable to the ownership or operation of the Property before or after the Effective Date and regardless of whether resulting from any acts or omissions of ASSIGNOR (INCLUDING THOSE ARISING FROM ASSIGNOR'S SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired: (a) The necessary and proper plugging, replugging and abandonment of all wells on the Property, whether plugged and abandoned before or after xxx Xffective Date; (b) The necessary and proper removal, abandonment, and disposal of all, structures, pipelines, facilities, equipment, abandoned property and junk located on or comprising part of the Property; (c) The necessary and proper capping and burying of all flow lines associated with the Wells and located on or comprising part of the Property; (d) The necessary and proper restoration of the Property, both surface and subsurface, as may be required by applicable laws, regulation or contract; (e) Any necessary clean-up or disposal of Property contaminated by naturally occurring radioactive material ("NORM"), as may be required by applicable laws, regulations or contract; (f) All obligations arising from contractual requirements and demands made by courts, authorized regulatory bodies or parties claiming a vested interest in the Property; and (g) Obtaining and maintaining all bonds, or supplemental or additional bonds, that may be required contractually or by governmental authorities.

Description of Obligations. Upon and after Closing, ASSIGNEE BUYER assumes full responsibility and liability for the following plugging and abandonment obligations related to the Property (the "“Plugging and Abandonment Obligations"”), regardless of whether they are attributable to the ownership or operation of the Property before before, on or after the Effective Date and regardless of whether resulting from any acts or omissions of ASSIGNOR SELLER (INCLUDING THOSE ARISING FROM ASSIGNOR'S SELLER’S SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired: (a) The necessary and proper plugging, replugging and abandonment of all wells xxxxx on the Property, whether plugged and abandoned before before, on or after xxx Xffective the Effective Date; (b) The necessary and proper removal, abandonment, and disposal of all, structures, pipelines, facilities, equipment, abandoned property and junk located on or comprising part of the Property; (c) The necessary and proper capping and burying of all flow lines associated with the Wells Xxxxx and located on or comprising part of the Property; (d) The necessary and proper restoration of the Property, both surface and subsurface, as may be required by applicable laws, regulation or contract; (e) Any necessary clean-up or disposal of Property contaminated by naturally occurring radioactive material ("“NORM"”), as may be required by applicable laws, regulations or contract; (f) All obligations arising from contractual requirements and demands made by courts, authorized regulatory bodies or parties claiming a vested interest in the Property; and (g) Obtaining and maintaining all bonds, or supplemental or additional bonds, that may be required contractually or by governmental authorities.

Description of Obligations. Upon and after Closing, ASSIGNEE Buyer assumes full responsibility and liability for the following plugging and abandonment obligations related to the Property (the "“Plugging and Abandonment Obligations"”), regardless of whether they are attributable to the ownership or operation of the Property before before, on or after the Effective Date and regardless of whether resulting from any acts or omissions of ASSIGNOR Seller (INCLUDING THOSE ARISING FROM ASSIGNOR'S SELLER’S SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired: (ai) The necessary and proper plugging, replugging and abandonment of all wells on xxxxx included in the Property, whether plugged and abandoned before before, on or after xxx Xffective the Effective Date; (bii) The necessary and proper removal, abandonment, and disposal of all, all structures, pipelines, facilities, equipment, abandoned property and junk located on or comprising part of the Property; (ciii) The necessary and proper capping and burying of all flow lines associated with the Wells and located on or Xxxxx comprising part of the Property; (div) The necessary and proper restoration of the Property, both surface and subsurface, as may be required by applicable laws, regulation Law or contractAssumed Contract; (ev) Any necessary clean-up or disposal of Property contaminated by naturally occurring radioactive material ("“NORM"”), as may be required by applicable laws, regulations Laws or contractAssumed Contract; (fvi) All obligations arising from contractual requirements and demands made by courts, authorized regulatory bodies or parties claiming a vested interest in the Property; and (gvii) Obtaining and maintaining all bonds, or supplemental or additional bonds, that may be required contractually by Assumed Contract or by governmental authoritiesGovernmental Authorities.