Implementing Cleanup. If Sellers elect to Cleanup an Environmental Defect pursuant to Section 8.2(a), Sellers shall select the means and methods of effecting the Cleanup in accordance with applicable Environmental Law, applicable industry standards, and any applicable agreement, provided, however, that Sellers shall not be required to plug and abandon any currently unplugged xxxxx if the cost thereof would be customary and normal site remediation costs assumed by Buyer in the transfer of the Assets hereunder, including without limitation, plugging and abandonment of Xxxxx. Sellers’ responsibility for remediation under this Section 8.2 shall be limited to a standard appropriate for the use of an Asset for oil and gas activities and in accordance with all applicable laws.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Dynamic Offshore Resources, Inc.), Purchase and Sale Agreement (Dynamic Offshore Resources, Inc.)
Implementing Cleanup. If Sellers elect Seller elects to Cleanup or remediate an Environmental Defect pursuant to Section 8.2(a8.2(a)(i), Sellers Seller shall select the means and methods of effecting the Cleanup in accordance with applicable or remediation to achieve the Lowest Cost Response for such Environmental Law, applicable industry standards, and any applicable agreementDefect, provided, however, that Sellers Seller shall not be required to plug and abandon any currently unplugged xxxxx if the cost thereof would be customary and normal site remediation costs assumed by Buyer in the transfer unless required as part of the Assets hereunder, including without limitation, plugging and abandonment of XxxxxLowest Cost Response. Sellers’ Seller’s responsibility for remediation under this Section 8.2 shall be limited to a standard appropriate for the use of an Asset for oil and gas activities and in accordance with all applicable lawsLaws.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Midstates Petroleum Company, Inc.)
Implementing Cleanup. If Sellers elect Seller elects to Cleanup an Environmental Defect pursuant to Section 8.2(a), Sellers Seller shall select the means and methods of effecting the Cleanup in accordance with applicable Environmental Law, applicable industry standards, and any applicable agreement, provided, however, that Sellers Seller shall not be required to plug and abandon any currently unplugged xxxxx if the cost thereof would be customary and normal site remediation costs assumed by Buyer in the transfer of the Assets hereunder, including without limitation, plugging and abandonment of Xxxxx. Sellers’ Seller’s responsibility for remediation under this Section 8.2 shall be limited to a standard appropriate for the use of an Asset for oil and gas activities and in accordance with all applicable laws.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Halcon Resources Corp)
Implementing Cleanup. If Sellers elect Seller elects to Cleanup an Environmental Defect pursuant to Section 8.2(a)8.2.1, Sellers Seller shall select the means and methods of effecting the Cleanup in accordance with applicable Environmental LawLaws, applicable industry standards, and any applicable agreement, provided, however, that Sellers that, subject to Buyer’s right to indemnification for breaches of Section 5.20, Seller shall not be required to plug and abandon any currently unplugged xxxxx if the cost thereof would be customary and normal site remediation costs assumed by Buyer in the transfer of the Assets hereunder, including without limitation, plugging and abandonment of Xxxxx. Sellers’ Seller’s responsibility for remediation under this Section 8.2 shall be limited to a standard appropriate for the use of an Asset for oil and gas activities and in accordance with all applicable laws.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Magnum Hunter Resources Corp)
Implementing Cleanup. If Sellers elect to Cleanup an Environmental Defect pursuant to Section 8.2(a)8.2.1, Sellers shall select the means and methods of effecting the Cleanup in accordance with applicable Environmental LawLaws and other applicable laws, rules, regulations and orders, applicable industry standards, standards and any applicable agreement, provided, however, that Sellers shall not be required to plug and abandon any currently unplugged xxxxx if the cost thereof would be customary and normal site remediation costs assumed by Buyer in the transfer of the Assets hereunder, including without limitation, plugging and abandonment of Xxxxx. Sellers’ responsibility for remediation under this Section 8.2 shall be limited to a standard appropriate for the use of an Asset for oil and gas activities and in accordance with all applicable laws.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Three Rivers Operating Co Inc.)