Maintenance of Uniform Interest Sample Clauses

Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership of the interests covered by this agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the Contract Area and in the wellx, xxuipment and production unless such disposition covers the entire undivided interest of the party.
Sample 1Sample 2Sample 3See All (4)
Maintenance of Uniform Interest. Except as permitted by Section 11.2 of the Purchase Agreement, for the purpose of maintaining uniformity of ownership in the AMI as among the Parties, from and after the expiration of the Drilling Carry Period, no Party shall Transfer any portion of its Joint Interests unless such Transfer covers the entirety of such Party’s Joint Interests, or an undivided percentage of such Party’s Joint Interests. Any Transfer of a Joint Interest shall also transfer a proportionate share of the transferring Party’s interest in this Agreement and all of the Applicable Operating Agreements. For the avoidance of doubt, nothing in this Section 7.4 shall prevent a Party from transferring Joint Interests in accordance with the terms and conditions of this Agreement.
Sample 1Sample 2Sample 3
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the oil and gas leasehold interests covered by this agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the leases embraced within the Contract Area and in xxxxx, equipment and production unless such disposition covers either: 1. The entire interest of the party in all leases and equipment and production; or 2. An EQUAL undivided interest in all leases and equipment and production in the Contract Area. Every such sale, encumbrance, transfer or other disposition made by any party shall be made expressly subject to this agreement and shall be made without prejudice to the right of the other parties.
Sample 1Sample 2
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Development Area as among the Parties, from and after the Closing Date during the term of this Agreement, no Party shall Transfer any portion of its Joint Development Interest (other than a Transfer of an Immaterial Interest or a Transfer permitted under Section 4.1(c)(i)) unless such Transfer covers the entirety of such Party’s Joint Development Interest, or an undivided percentage thereof. Any Transfer of an undivided portion of a Party’s Joint Development Interest shall also include a proportionate share of the transferring Party’s rights and obligations in and under this Agreement and any applicable Associated Agreement.
Sample 1
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the oil and gas leasehold interests covered by this Agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the leases embraced within the Contract Area and in wxxxx, equipment and production unless such disposition covers either: (1) the entire interest of the party in all leases and equipment and production; or (2) an equal undivided interest in all leases and equipment and production in the Contract Area. Every sale, encumbrance, transfer or other disposition made by any party shall be made expressly subject to this Agreement and shall be made without prejudice to the right of the other parties. No sale or assignment of interest by any party will relieve or release such party of its obligations hereunder, and such party shall be and remain liable for all obligations incurred by it until all monies due and accounts payable attributable to its interest and accruing out of the development and operation of the lease(s) subject hereto during the period of its ownership of an interest herein, shall have been paid in full by the party assigning its interest and the Operator has been furnished with a certified copy of a recorded instrument evidencing the sale or assignment. If, at any time the interest of any party is divided among and owned by four or more co-owners, Operator, at its discretion, may require such co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive bxxxxxxx for and approve and pay such party’s share of the joint expenses, and to deal generally with, and with power to bind, the co-owners of such party’s interest within the scope of the operations embraced in this Agreement; however, all such co-owners shall have the right to enter into and execute all contracts or agreements for the disposition of their respective shares of the oil and gas produced from the Contract Area and they shall have the right to receive, separately, payment of the sale proceeds thereof.
Sample 1
Maintenance of Uniform Interest. Notwithstanding anything in this Agreement to the contrary, after the end of the Drilling Term for the remainder of the term of this Agreement, if any Party Transfers to any Person less than all of its Joint Development Interest (the “Transferred Interest”), then this Agreement (other than Section 5.2) shall automatically terminate with respect to such Transferred Interest and, unless the Transferring Party retains an undivided interest in such Transferred Interest, shall also terminate with respect to the non-Transferring Party’s undivided interest in such Transferred Interest. In the event of any such termination, the Parties shall take all such action as is necessary to terminate this Agreement with respect to such interests, including amending the Contract Area and making any filings in the real property records in which the Transfer Interest is located to reflect such termination.
Sample 1
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Oil and Gas Interests covered by this Agreement, no party shall sell, encumber, transfer, or make other disposition of its interest embraced within the Contract Area and in the well, equipment, and production unless the disposition covers either: 1. the entire interest of the party in all equipment and production; or, 2. an equal undivided interest in all equipment and production in the Contract Area. Every sale, encumbrance, transfer, or other disposition made by any party shall be made expressly subject to this Agreement and shall be made without prejudice to the right of the other parties. If, at any time the interest of any party is divided among and owned by four or more co-owners, Operator, at its discretion, may require those co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive xxxxxxxx for and approve and pay the party’s share of the joint expenses, and to deal generally with, and with power to bind, the co-owners of the party’s interest within the scope of the operations embraced in this Agreement; however, all the co-owners shall have the right to enter into and execute all contracts or agreements for the disposition of their respective shares of the Oil and Gas produced from the well and they shall have the right to receive, separately, payment of the sale proceeds of the Oil and Gas produced.
Sample 1

Related to Maintenance of Uniform Interest

  • Maintenance of Membership Any Employee who is a member in good standing, or is reinstated as a member of the Union shall, as a condition of continued employment, maintain such membership in good standing throughout the term of this Agreement.

  • Establishment and Maintenance of Records GRANTEE shall maintain records, including but not limited to, books, financial records, supporting documents, statistical records, personnel, property, and all other pertinent records sufficient to reflect properly: a. All direct and indirect costs of whatever nature claimed to have been incurred and anticipated to be incurred in the performance of this AGREEMENT; and b. All other matters covered by this AGREEMENT. Such records shall be maintained in accordance with requirements now or hereafter prescribed by the CITY.

  • Maintenance of REIT Status In the case of the Parent Guarantor, at all times, conduct its affairs and the affairs of its Subsidiaries in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes.

  • PRESERVATION, MANAGEMENT AND MAINTENANCE OF MORTGAGED PROPERTY (a) Borrower shall not commit waste or permit impairment or deterioration of the Mortgaged Property. (b) Borrower shall not abandon the Mortgaged Property. (c) Borrower shall restore or repair promptly, in a good and workmanlike manner, any damaged part of the Mortgaged Property to the equivalent of its original condition, or such other condition as Lender may approve in writing, whether or not insurance proceeds or condemnation awards are available to cover any costs of such restoration or repair; however, Borrower shall not be obligated to perform such restoration or repair if (i) no Event of Default has occurred and is continuing, and (ii) Lender has elected to apply any available insurance proceeds and/or condemnation awards to the payment of Indebtedness pursuant to Section 19(h)(ii), (iii), (iv) or (v), or pursuant to Section 20. (d) Borrower shall keep the Mortgaged Property in good repair, including the replacement of Personalty and Fixtures with items of equal or better function and quality. (e) Borrower shall provide for professional management of the Mortgaged Property by a residential rental property manager satisfactory to Lender at all times under a contract approved by Lender in writing, which contract must be terminable upon not more than 30 days notice without the necessity of establishing cause and without payment of a penalty or termination fee by Borrower or its successors. (f) Borrower shall give Notice to Lender of and, unless otherwise directed in writing by Lender, shall appear in and defend any action or proceeding purporting to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument. Borrower shall not (and shall not permit any tenant or other person to) remove, demolish or alter the Mortgaged Property or any part of the Mortgaged Property, including any removal, demolition or alteration occurring in connection with a rehabilitation of all or part of the Mortgaged Property, except (i) in connection with the replacement of tangible Personalty, (ii) if Borrower is a cooperative housing corporation or association, to the extent permitted with respect to individual dwelling units under the form of proprietary lease or occupancy agreement and (iii) repairs and replacements in connection with making an individual unit ready for a new occupant. (g) Unless otherwise waived by Lender in writing, Borrower must have or must establish and must adhere to the MMP. If the Borrower is required to have an MMP, the Borrower must keep all MMP documentation at the Mortgaged Property or at the management agent's office and available for the Lender or the Loan Servicer to review during any annual assessment or other inspection of the Mortgaged Property that is required by Lender. (h) If Borrower is a housing cooperative corporation or association, until the Indebtedness is paid in full Borrower shall not reduce the maintenance fees, charges or assessments payable by shareholders or residents under proprietary leases or occupancy agreements below a level which is sufficient to pay all expenses of the Borrower, including, without limitation, all operating and other expenses for the Mortgaged Property and all payments due pursuant to the terms of the Note and any Loan Documents.

  • MAINTENANCE OF CONDITIONS Conditions of employment in effect at the execution of this Agreement shall, except as improved herein, be maintained during the term of this Agreement.

  • Maintenance of Net Worth The Parent shall at all times maintain an Adjusted Net Worth of not less than the Minimum Tangible Net Worth.

  • Maintenance of Listing The Company will use commercially reasonable efforts to effect and maintain the listing of (x) the Units and Warrants on the NYSE (or another national securities exchange) until the consummation of the Business Combination or until such earlier time at which the Liquidation occurs, and (y) the Common Stock on the NYSE (or another national securities exchange) until five years from the date of the consummation of the Business Combination or until such earlier time at which Liquidation occurs.

  • Maintenance of Liquidity Seller shall ensure that it has cash and Cash Equivalents (excluding Restricted Cash or cash pledged to Persons other than Buyer), in an amount not less than $40,000,000.

  • Maintenance of Services A. Reseller will adopt and adhere to the standards contained in the applicable BellSouth Work Center Interface Agreement regarding maintenance and installation of service. B. Services resold under the Company’s Tariffs and facilities and equipment provided by the Company shall be maintained by the Company. C. Reseller or its end users may not rearrange, move, disconnect, remove or attempt to repair any facilities owned by the Company, other than by connection or disconnection to any interface means used, except with the written consent of the Company. D. Reseller accepts responsibility to notify the Company of situations that arise that may result in a service problem. E. Reseller will be the Company's single point of contact for all repair calls on behalf of Reseller’s end users. The parties agree to provide one another with toll-free contact numbers for such purposes. F. Reseller will contact the appropriate repair centers in accordance with procedures established by the Company. G. For all repair requests, Reseller accepts responsibility for adhering to the Company's prescreening guidelines prior to referring the trouble to the Company. H. The Company will xxxx Reseller for handling troubles that are found not to be in the Company's network pursuant to its standard time and material charges. The standard time and material charges will be no more than what BellSouth charges to its retail customers for the same services. I. The Company reserves the right to contact Reseller’s customers, if deemed necessary, for maintenance purposes.

  • Maintenance of Records I agree to keep and maintain adequate and current written records of all Inventions made by me (solely or jointly with others) during the term of my employment with the Company. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times.