Midstream Agreements Clause Samples
A Midstream Agreements clause defines the terms and conditions governing the transportation, processing, storage, or marketing of oil, gas, or other resources between producers and midstream service providers. This clause typically outlines the responsibilities of each party, the scope of services, payment terms, and operational standards, often referencing specific facilities or delivery points. Its core practical function is to ensure that both parties clearly understand their obligations and rights in the midstream segment of the energy supply chain, thereby reducing the risk of disputes and facilitating smooth operations.
Midstream Agreements. Within sixty (60) days after the Effective Date, Anadarko shall cause the Transaction Parties to document the Midstream Agreements more fully described on Schedule III-B to the WGRAH Loan Agreement, which documentation of such Midstream Agreements shall include the commercial terms more fully set out on such Schedule. Anadarko shall reimburse WGRAH for any losses suffered by any WGRAH Loan Party as a result of the failure to have such Midstream Agreements in place as of the Effective Date. Anadarko shall cause the Transaction Parties to enter into or renew Midstream Agreements from time to time such that at all times the pricing and other terms of all Midstream Agreements with Transaction Parties are not, taken as a whole, materially less beneficial to WGRAH and its Subsidiaries than the pricing and other terms of all Midstream Agreements (both in written form and not in written form) with Transaction Parties existing on the Effective Date.
Midstream Agreements. The Administrative Agent shall have received all copies of the Midstream Agreements that the Borrower or any other Loan Party is party thereto on the Closing Date.
Midstream Agreements. As to each of the Contracts described on Schedule 8.3(d) (the “Midstream Agreements”), from the Execution Date until Closing, Seller, OpCo and Buyer shall, and Seller and OpCo shall cause their Affiliates to, use their commercially reasonable efforts to obtain any Consents to assignment required under the Midstream Agreements. In connection with such efforts, the Parties hereby acknowledge that for the purposes of Buyer’s obligations under this Section 8.3(d), “commercially reasonable efforts” shall include Buyer agreeing to post with respect to the Midstream Agreements the reasonable credit support required or requested to be posted by the counterparties to the Midstream Agreements.
Midstream Agreements. As to each of the Contracts described on Schedule 8.3(d) (the “Midstream Agreements”), from the Execution Date until Closing, Seller and Buyer shall, and Seller shall cause its Affiliates to, use their commercially reasonable efforts to obtain (1) any Consents to assignment required under the Midstream Agreements, and (2) novations of the Midstream Agreements from Seller or its Affiliates to Buyer with respect to any obligations or Losses related to or arising from the Midstream Agreements on or after the Effective Time (with such novations expressly excluding and Seller retaining any such Losses or obligations relating to or arising from the Midstream Agreements prior to the Effective Time). In connection with such efforts, the Parties hereby acknowledge that for the purposes of Buyer’s obligations under this Section 8.3(d), “commercially reasonable efforts” shall include Buyer agreeing to post with respect to the Midstream Agreements the reasonable credit support required or requested to be posted by the counterparties to the Midstream Agreements.