Nature of Marketing Arrangements Sample Clauses

Nature of Marketing Arrangements. Grantor shall have the obligation to market, or cause to be marketed, the oil, gas and other minerals attributable to the Term ORRI (the "ORRI Hydrocarbons") on behalf of and for the account of Grantee in arm's-length transactions with purchasers who are not Affiliates, on the same terms upon which Grantor markets its own Subject Reserves from the same Subject Well. Grantor shall have no express or implied obligation to sell or otherwise to market or render marketable or more valuable the ORRI Hydrocarbons on any terms better or otherwise different than those pursuant to which it sells, markets or renders marketable or more valuable its own Subject Reserves from the same Subject Well. As to any third parties, all acts of Grantor in marketing the ORRI Hydrocarbons and all sales or other marketing agreements executed by Grantor in accordance herewith shall be binding on Grantee and the Term ORRI; it being understood that the right and obligation to market the ORRI Hydrocarbons is at all times vested in Grantor, and Grantee does not have any such right or obligation or any possessory interest in all or part of the ORRI Hydrocarbons. Accordingly, it shall not be necessary for Grantee to join in any production sales or marketing agreements or any amendments to existing production sales or marketing agreements.
Sample 1
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Nature of Marketing Arrangements. Subject to the right of Assignee to take the ORRI Hydrocarbons in kind described in Section 2.3 hereof, Assignor shall prudently market, or cause to be prudently marketed, the ORRI Hydrocarbons on behalf of and for the account of Assignee in arm's-length transactions with reputable purchasers, with each such marketing arrangement (including all arrangements relating to sales, treating, transportation, compression and processing) to be made upon terms and conditions that (a) are at least as favorable as Assignor or any Affiliate of Assignor obtains for Assignor's share of oil, gas or other minerals attributable to the Subject Interests or attributable to any other properties in the same field or general area, (b) are in accordance with the provisions of the Leases, (c) give due regard to the interests of Assignee, and (d) unless otherwise agreed by Assignee from time to time, provide for floating prices generally based on spot-market prices plus or minus a basis differential; provided, however, that no ORRI Hydrocarbons are or will become subject to any sales arrangement (i) whereby payment for ORRI Hydrocarbons is or can be deferred in excess of 30 days in the case of oil and in excess of 60 days in the case of gas after the month in which the ORRI Hydrocarbons are delivered; (ii) whereby payments may be made other than by checks, drafts, wire transfer or similar communications for the immediate payment of money; (iii) that is for a term in excess of 1 year or is not cancelable on less than or equal to sixty days notice. Assignor shall duly and prudently perform all obligations performable by it under any arrangements by which ORRI Hydrocarbons are sold or otherwise marketed and shall take all appropriate measures to enforce the performance under each such arrangement of the obligations of the other parties thereto. As to any third parties, all acts of Assignor in marketing the ORRI Hydrocarbons and all sales or other marketing agreements executed by Assignor in accordance herewith shall be binding on Assignee and the ORRI, it being understood and agreed hereby that the right and obligation to market the ORRI Hydrocarbons shall be at all times vested in Assignor, and Assignee shall not have any such right or obligation. Accordingly, it shall not be necessary for Assignee to join in any production sales or marketing agreements or any amendments to existing production sales or marketing agreements. Amounts received by Assignor as payments from a purchaser of...
Sample 1

Related to Nature of Marketing Arrangements

  • Marketing Agreement The Company shall have entered into, ------------------- executed and delivered the Marketing Agreement.

  • No Unapproved Marketing Documents The Company has not distributed and, prior to the later of any Closing Date and completion of the distribution of the Offered Shares, will not distribute any offering material in connection with the offering and sale of the Offering Shares other than any preliminary prospectus, the Final Prospectus, any Issuer Free Writing Prospectus to which the Representatives have consented in accordance with this Agreement and any Issuer Free Writing Prospectus set forth on Schedule B hereto.

  • Regulatory Agreements List any exceptions to the representation and warranty in Section 2.19

  • Nature of Business Substantially change the nature of the business in which it is presently engaged, nor except as specifically permitted hereby purchase or invest, directly or indirectly, in any assets or property other than in the Ordinary Course of Business for assets or property which are useful in, necessary for and are to be used in its business as presently conducted.

  • Structure of Agreement The Trust is entering into this Agreement solely on behalf of the Fund. Without limiting the generality of the foregoing: (a) no breach of any term of this Agreement shall create a right or obligation with respect to any series of the Trust other than the Fund; (b) under no circumstances shall the Advisor have the right to set off claims relating to the Fund by applying property of any other series of the Trust; and (c) the business and contractual relationships created by this Agreement, consideration for entering into this Agreement, and the consequences of such relationship and consideration relate solely to the Trust and the Fund.

  • Nature of Business; International Operations Neither the Borrower nor any Restricted Subsidiary will allow any material change to be made in the character of its business as an independent oil and gas exploration and production company. From and after the date hereof, the Borrower and its Domestic Subsidiaries will not acquire or make any other expenditure (whether such expenditure is capital, operating or otherwise) in or related to, any Oil and Gas Properties not located within the geographical boundaries of the United States.

  • Approval of Agreements Not to enter into, modify, amend or terminate any Lease or any other material agreement with respect to the Property, which would encumber or be binding upon the Property from and after the Closing Date, without in each instance obtaining the prior written consent of the Purchaser.

  • Certain Activities The Executive shall not, while employed by the Company and for a period of one (1) year following the date of termination, directly or indirectly, hire, offer to hire, entice away or in any other manner persuade or attempt to persuade any officer, employee, agent, lessor, lessee, licensor, licensee or supplier of Employer or any of its subsidiaries to discontinue or alter his or its relationship with Employer or any of its subsidiaries.

  • Nature of Agreement You understand and agree that this letter agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company.

  • Authority; Binding Nature of Agreements (a) The Seller has the absolute and unrestricted right, power and authority to enter into and to perform its obligations under each of the Transactional Agreements to which it is or may become a party.

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