Common use of No Power to Engage in Business or Make Investments Clause in Contracts

No Power to Engage in Business or Make Investments. The Trustees shall not, in their capacities as Trustees under the Trust, acquire any oil and gas property other than the After-Payout Working Interests, nor engage in any business or investment activity of any kind whatsoever. Nothing contained in this Section 6.03 shall prevent the Trustees from taking those actions as are expressly permitted by other portions hereof or reasonably related thereto, including the dissolution of the Trust.

Appears in 6 contracts

Samples: Trust Agreement (Clayton Williams Energy Inc /De), Trust Agreement (Clayton Williams Energy Inc /De), Louisiana (Clayton Williams Energy Inc /De)

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No Power to Engage in Business or Make Investments. The Trustees Trustee shall not, in their capacities its capacity as Trustees Trustee under the Trust, acquire any oil and gas property lease, royalty, or other mineral interest other than the After-Payout Working InterestsOverriding Royalties, nor engage in any business or investment activity of any kind whatsoever. Nothing contained in this Section 6.03 7.3 shall prevent the Trustees Trustee from taking those actions as are expressly permitted by other portions hereof or are reasonably related thereto, including the dissolution of the Trust.

Appears in 1 contract

Samples: Employee Royalty Trust Agreement (Gasco Energy Inc)

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