Idle Well Conductor Removal Clause Samples

Idle Well Conductor Removal. If prior to Closing the three idle well conductors located at Main Pass Platform 225 have not been removed from said platform (the “Conductors”), SELLER will, as a post-Closing covenant, but not as a condition to Closing, cause the Conductors or the portion thereof that remain located at Main Pass Platform 225 to be removed in accordance with SELLER’s operating and engineering procedures, requirements, and standards and in accordance with all applicable Laws. SELLER will bear the entire cost of removing and disposing of the Conductors, and in consideration thereof, BUYER agrees that SELLER will acquire title to and the right to sell or dispose of the Conductors in such manner as SELLER may elect and to retain the proceeds of any such action, so long as SELLER complies with the covenants of this Section 7.11.