Common use of Grantee’s Evaluation Clause in Contracts

Grantee’s Evaluation. (a) Grantee is experienced and knowledgeable in the oil and gas business and is aware of its risks. Grantee has been afforded the opportunity to examine the information relating to the Assets. Except for the representations and warranties of Grantor contained in this Agreement, Grantee acknowledges and agrees that neither Grantor, nor Grantor’s representatives, have made any representations or warranties, express or implied, written or oral, as to the accuracy or completeness of the information relating to the Assets or any other information relating to the Assets furnished or to be furnished to Grantee or its representatives by or on behalf of Grantor, including, without limitation any estimate with respect to the value of the Assets, estimates of reserves, estimates or any projections as to events that could or could not occur, future operating expenses, future workover expenses and future cash flow. (b) In entering into this Agreement, Grantee acknowledges and affirms that it has relied and will rely solely on the terms of this Agreement and upon its independent analysis, evaluation and investigation of, and judgment with respect to, the business, economic, legal, tax or other consequences of the transactions contemplated by this Agreement, including its own estimate and appraisal of the extent and value of the petroleum, natural gas and other reserves of the Assets, the value of the Assets and future operation, maintenance and development costs associated with the Assets. Grantee’s representatives have visited, or, prior to Closing will visit, the offices of Grantor and have been given (or, prior to Closing will be given) opportunities to examine the information relating to the Assets. Except as expressly provided in this Agreement, Grantor shall not have any liability to Grantee or its affiliates, agents, representatives or employees resulting from any use, authorized or unauthorized, of the information relating to the Assets or other information relating to the Assets provided by or on behalf of Grantor.

Grantee’s Evaluation. (a) Grantee is experienced and knowledgeable in the oil and gas business and is aware of its risks. Grantee has been afforded the opportunity to examine the information relating to the Assets. Except for the representations and warranties of Grantor contained in this Agreement, Grantee acknowledges and agrees that neither Grantor, nor Grantor’s representatives, have made any representations or warranties, express or implied, written or oral, as to the accuracy or completeness of the information relating to the Assets or any other information relating to the Assets furnished or to be furnished to Grantee or its representatives by or on behalf of Grantor, and Grantor hereby disclaims the same, including, without limitation any estimate with respect to the value of the Assets, estimates of reserves, estimates or any projections as to events that could or could not occur, future operating expenses, future workover expenses and future cash flow. (b) In entering into this Agreement, Grantee acknowledges and affirms that it has relied and will rely solely on the terms of this Agreement and upon its independent analysis, evaluation and investigation of, and judgment with respect to, the business, economic, legal, tax or other consequences of the transactions contemplated by this Agreement, including its own estimate and appraisal of the extent and value of the petroleum, natural gas and other reserves of the Assets, the value of the Assets and future operation, maintenance and development costs associated with the Assets. Grantee’s representatives have visited, or, prior to Closing will visit, the offices of Grantor and have been given (or, prior to Closing will be given) opportunities to examine the information relating to the Assets. Except as expressly provided in this Agreement, Grantor shall not have any liability to Grantee or its affiliates, agents, representatives or employees resulting from any use, authorized or unauthorized, of the information relating to the Assets or other information relating to the Assets provided by or on behalf of Grantor.