EMPLOYEE OVERRIDES Sample Clauses

EMPLOYEE OVERRIDES. (a) Except as otherwise provided in Section 7.23(b) below, as to those Oil and Gas Properties (x) that are described on Exhibit A attached hereto, (y) with respect to which such Exhibit A shows that the "record title interest" (as signified by the "(R)" appearing next to certain applicable statements of ownership interest in various places on such Exhibit A) that is represented and warranted to Mortgagee as owned by Mortgagor to Mortgagee as owned by Mortgagor exceeds the "beneficial interest" (as signified by the "(B)" appearing next to certain applicable statements of ownership interest in various places on such Exhibit A) that is represented and warranted to Mortgagee as owned by Mortgagor, and (z) with respect to which Mortgagee has a valid and binding contractual obligation to deliver an assignment of an interest in such Oil and Gas Property to another Person, upon Mortgagor's written request delivered to Mortgagee, Mortgagee will be obligated to execute and deliver an instrument reasonably satisfactory to the assignee of such interest providing for the partial release of the liens and security interests created by this Mortgage which encumber such interest, subject, however, to the extent, and only to the extent that each condition described in subsections (a)(i) and (a)(ii) of this Section 7.23 are satisfied in full: (i) Mortgagor's written request delivered to Mortgagee pursuant to Section 7.23(a) shall include a copy of the proposed assignment of interest, including a statement of the quantum of interest to be assigned thereby; and (ii) Mortgagor shall deliver to Mortgagee a certificate executed on behalf of Mortgagor by a Responsible Officer of Mortgagor, which certificate shall contain a representation and warranty by Mortgagor to Mortgagee that: (A) Mortgagor is contractually obligated to deliver the assignment to the Person described as assignee in the copy of the proposed assignment of interest delivered to Mortgagee pursuant to subsection (a)(i) of this Section 7.23 and (B) the assignment from Mortgagor to such Person does not and will not, upon its execution, delivery, and recordation, increase Mortgagor's working interest, on the one hand, or reduce, on the other hand, Mortgagor's net revenue interest in the Oil and Gas Properties affected thereby below the net revenue interest represented and warranted to Mortgagee on Exhibit A as constituting Mortgagor's "beneficial interest" in such Oil and Gas Properties. (b) As to the Oil and Gas Prop...
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EMPLOYEE OVERRIDES. Within fourteen (14) days after Closing, Seller shall deliver to Buyer documentation reasonably acceptable to Buyer, executed by the employees and other Persons entitled, as of the date hereof, to receive from Seller assignments of overriding royalty interests in the Leases (collectively, the “Entitled Persons”), evidencing such Persons’ relinquishment of rights to such assignments. In the event Seller fails to provide such documentation for all Entitled Persons, then (i) the Purchase Price shall be adjusted downward by the amount of Two Million Five Hundred Thousand Dollars; and (ii) Buyer shall assign to Seller the affected overriding royalty interests.
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Related to EMPLOYEE OVERRIDES

  • Employment of Consultant CONSULTANT will perform as an independent contractor all services under this Contract to the prevailing professional standards consistent with the level of care and skill ordinarily exercised by members of its profession, both public and private, currently practicing in the same locality under similar conditions, including reasonable, informed judgments and prompt, timely action. If CONSULTANT is representing that it has special expertise in one or more areas to be utilized in this Contract, then CONSULTANT agrees to perform those special expertise services to the appropriate local, regional or national professional standards.

  • Exclusive Employment During employment with the Company, Executive will not do anything to compete with the Company’s present or contemplated business, nor will he plan or organize any competitive business activity. Executive will not enter into any agreement which conflicts with his duties or obligations to the Company. Executive will not during his employment or within one (1) year after it ends, without the Company’s express written consent, directly or indirectly, solicit or encourage any employee, agent, independent contractor, supplier, customer, consultant or any other person or company to terminate or alter a relationship with the Company.

  • Employment Company hereby employs Executive, and Executive hereby accepts such employment, upon the terms and conditions set forth herein.

  • Employer The term “

  • EMPLOYER AND EMPLOYEE DUTIES 11.1 An employer may direct an employee to carry out such duties as are within the limits of the employee's skills, competence and training consistent with the classification structure of this agreement provided that such duties are not designed to promote xx-xxxxxxxx. 11.2 An employer may direct an employee to carry out such duties and use such tools and equipment as may be required provided that the employee has been properly trained in the use of such tools and equipment. 11.3 Any direction issued by an employer under this clause is to be consistent with the employer's responsibilities to provide a safe and healthy working environment.

  • The Employer This Agreement shall inure to the benefit of and be binding upon the Employer and its successors and assigns. The Bancorp and the Bank will each require any successor to it (whether direct or indirect, by stock or asset purchase, merger, consolidation or otherwise) or to all or substantially all of its business or assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent it would be required to perform it if no such succession had taken place.

  • Outside Employment Employees may engage in other employment outside of their State working hours so long as the outside employment does not involve a conflict of interest with their State employment. Whenever it appears that any such outside employment might constitute a conflict of interest, the employee is expected to consult with his/her appointing authority or other appropriate agency representative prior to engaging in such outside employment. Employees of agencies where there are established procedures concerning outside employment for the purpose of insuring compliance with specific statutory restrictions on outside employment are expected to comply with such procedures.

  • RESTRICTIONS ON EMPLOYMENT OF FORMER STATE OFFICER OR EMPLOYEE The Engineer shall not hire a former state officer or employee of a state agency who, during the period of state service or employment, participated on behalf of the state agency in this agreement’s procurement or its negotiation until after the second anniversary of the date of the officer’s or employee’s service or employment with the state agency ceased.

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • Employment Equity The Employer and the Union agree with employment equity programs which will assist visible minorities, persons with disabilities, First Nations people, and women in gaining entry into employment and which will provide opportunities for advancement.

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