Common use of Limitations on Seller's Covenants Pending Closing Clause in Contracts

Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the Assets, the obligations of Seller in Section 11.1 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 7 contracts

Samples: Purchase and Sale Agreement (Sun River Energy, Inc), Purchase and Sale Agreement (Denbury Resources Inc), Purchase and Sale Agreement (Natural Gas Systems Inc/New)

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Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the Assets, the obligations of Seller in Section 11.1 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 6 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Vanguard Natural Resources, LLC), Purchase and Sale Agreement (Arena Resources Inc)

Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the AssetsProperties, the obligations of Seller in Section 11.1 Article 11.2 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets Properties to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Foothills Resources Inc), Purchase and Sale Agreement (Foothills Resources Inc)

Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the Assets, the obligations of Seller in Section 11.1 concerning 8.1 above, which have reference to operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Toreador Royalty Corp)

Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the Assets, the obligations of Seller in Section 11.1 10.1 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Castle Energy Corp)

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Limitations on Seller's Covenants Pending Closing. (a) To the extent Seller (or any of its affiliates) is not the operator of any of the AssetsProperties, the obligations of Seller in Section 11.1 Article 11.2 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that Seller use all commercially reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets Properties to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Plains Exploration & Production Co)

Limitations on Seller's Covenants Pending Closing. To the extent Seller is not the operator of any of the Assets, the obligations of Seller in Section 11.1 concerning operations or activities which normally or pursuant to existing contracts are carried out or performed by the operator, operator shall be construed to require only that Seller use all reasonable efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such Assets to take such actions or render such performance as would a reasonable prudent operator and within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Purchase and Sale Agreement (ZaZa Energy Corp)

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