Common use of Maintenance of Petroleum and Natural Gas Properties Clause in Contracts

Maintenance of Petroleum and Natural Gas Properties. the Borrower shall and shall cause each of the other Loan Parties to, subject to Permitted Dispositions, maintain and operate all of its properties and assets, including, without limitation, its petroleum and natural gas properties and related production facilities, in a good and workmanlike manner and in accordance with good oilfield practice except to the extent failure to do so would not reasonably be expected to have a Material Adverse Effect, and conduct its business in a proper and prudent manner and maintain and preserve its assets and properties so as not to materially and adversely impair its ability to perform its obligations under this Agreement, the other Loan Documents and the Material Contracts, and the Borrower shall and shall cause each of the other Loan Parties to comply with all of its obligations under all agreements and instruments to which it is a party or by which it is bound or affected, including, without limitation, the Material Contracts, other than non-compliance which does not have a Material Adverse Effect;

Appears in 3 contracts

Samples: Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust)

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Maintenance of Petroleum and Natural Gas Properties. the Borrower shall and shall cause each of the other Loan Parties to, subject to Permitted Dispositions, maintain and operate all of its properties and assets, including, without limitation, its petroleum and natural gas properties and related production facilities, in a good and workmanlike manner and in accordance with good oilfield practice except to the extent failure to do so would not reasonably be expected to have a Material Adverse Effect, and conduct its business in a proper and prudent manner and maintain and preserve its assets and properties so as not to materially and adversely impair its ability to perform its obligations under this Agreement, Agreement and the other Loan Documents and the Material ContractsDocuments, and the Borrower shall and shall cause each of the other Loan Parties to comply with all of its obligations under all agreements and instruments to which it is a party or by which it is bound or affected, including, without limitation, the Material Contracts, other than non-compliance which does not have a Material Adverse Effect;

Appears in 3 contracts

Samples: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp)

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