Common use of Exceptions to Transfer Notice Clause in Contracts

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); any Production Systems, Facilities, or equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage). However, an encumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); any Production Systems, Facilities, or equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage). However, an encumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136.

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, hypothecate or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); , any Production Systemswells, FacilitiesPlatforms, Devxxxxxent Facilities or other equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage). However, an encumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136.

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, hypothecate or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); , any Production Systemswells, FacilitiesPlatforms, Development Facilities or equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage)other equixxxxx. However, an encumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136.

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, hypothecate or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); , any Production Systemswells, FacilitiesPlatforms, Processing Facilities or other equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage). However, an encumbrance xx xncumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136.

Exceptions to Transfer Notice. Notwithstanding any contrary provision of this Agreement, the transfer notice is not required when a Party proposes to mortgage, pledge, hypothecate, hypothecate or grant a security interest in all or a portion of its Working Interest (including Assignments of Hydrocarbon production executed as further security for the debt secured by that security device); , any Production Systemsxxxxx, FacilitiesPlatforms, Development Facilities or other equipment; or when any interest is conveyed in accordance with Articles 16 (Non-Consent Operations), 17 (Withdrawal From Agreement), and 18 (Abandonment and Salvage). However, an encumbrance arising from the financing transaction shall be expressly made subject and subordinated to this Agreement. 136.