Common use of Environmental Examination Period Clause in Contracts

Environmental Examination Period. (a) Commencing on the date hereof and ending on January 25, 2013 at 6:00 p.m. Midland, Texas time and re-commencing on the delivery of the Notice of Intent to Exercise and ending on Option Claim Date (collectively, the “Environmental Examination Period”), Sellers shall, subject to surface owner approval if required (which, upon Buyer’s request, Sellers shall use commercially reasonable efforts to obtain, provided that Sellers shall not be required to provide consideration, incur any expense or undertake obligations to or for the benefit of the holders of such approval rights) and the provisions of Section 7.01, permit Buyer and/or its representatives, in a reasonable manner, at reasonable times (including on weekends, holidays and before and after normal business hours if requested by Buyer) and at Buyer’s sole risk, cost and expense, to conduct reasonable environmental inspections of the Assets; provided, however, that Buyer must make previous arrangements with the Seller Representative for each such inspection; and provided, further, that each such inspection shall be limited to a visual inspection of the Assets, (although Buyer may move dirt or ground coverings at the surface location to obtain such a visual inspection, subject to the requirements of subsection Section 5.01(e) below), it being understood that no soil or water tests, other samplings or borings thereof may be conducted without the Seller Representative’s prior consent, which shall not be unreasonably withheld, conditioned or delayed.

Environmental Examination Period. (a) Commencing on the date hereof and ending on January 25October 4, 2013 2010 at 6:00 p.m. Midland, Texas time and re-commencing on the delivery of the Notice of Intent to Exercise and ending on Option Claim Date (collectively, the “Environmental Examination Period”), Sellers Seller shall, subject to Third Party operator and surface owner approval if required (which, upon Buyer’s request, Sellers Seller shall use commercially reasonable efforts to obtain, provided that Sellers Seller shall not be required to provide consideration, incur any expense or undertake obligations to or for the benefit of the holders of such approval rights) and the provisions of Section 7.017.01 hereof, permit Buyer and/or its representatives, in a reasonable manner, at reasonable times (including on weekends, holidays and before and after normal business hours if requested by Buyer) and at Buyer’s sole risk, cost and expense, to conduct reasonable environmental inspections of the Assets; provided, however, that Buyer must make previous arrangements with the Seller Representative for each such inspection; and provided, further, that each such inspection shall be limited to a visual inspection of the Assets, Seller’s Xxxxx and Leases (although Buyer Seller may move dirt or ground coverings at the surface location to obtain such a visual inspection, subject to the requirements of subsection Section 5.01(e(e) below), it being understood that no soil or water tests, other samplings or borings thereof may be conducted without the Seller RepresentativeSeller’s prior consent. If Buyer determines that invasive inspections are warranted, and if Seller declines to consent thereto, Buyer shall have the right to terminate this Agreement, in which case the Deposit shall not be unreasonably withheld, conditioned or delayedpaid to Buyer.