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

No Power to Engage in Business or Make Investments. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to acquire any asset other than the Net Profits Interest and Pre-Effective Time Payment and proceeds therefrom, the rights of the Trust to enforce the terms and provisions of the Administrative Services Agreement and the Registration Rights Agreement, and other amounts paid to the Trust as set forth herein, or engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the operations of the Underlying Properties or the marketing of any production therefrom.

Appears in 3 contracts

Samples: Trust Agreement (Whiting Petroleum Corp), Trust Agreement (Whiting Petroleum Corp), Trust Agreement (Whiting Usa Trust I)

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No Power to Engage in Business or Make Investments. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to acquire any asset other than the Net Profits Interest and Pre-Effective Time Payment the Hedge Agreements Assignment and proceeds therefrom, the rights of the Trust to enforce the terms and provisions of the Administrative Services Agreement and the Registration Rights Agreement, and other amounts paid to the Trust as set forth herein, or engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the operations of the Underlying Properties or the marketing of any production therefrom.

Appears in 2 contracts

Samples: Trust Agreement (MV Oil Trust), Trust Agreement (MV Oil Trust)

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No Power to Engage in Business or Make Investments. Neither the Trustee nor the Delaware Trustee shall cause or permit the Trust to acquire any asset other than the Net Profits Interest Royalty Interests and Pre-Effective Time Payment the Hedge Agreements and proceeds therefrom, the rights of the Trust to enforce the terms and provisions of the Administrative Services Development Agreement and the Registration Rights Administrative Services Agreement, and other amounts paid to the Trust as set forth herein, or engage in any business or investment activity of any kind whatsoever, except for the activities permitted herein. Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the operations of the Underlying Properties or the marketing of any production therefrom.

Appears in 1 contract

Samples: Trust Agreement (Appalachian Gas Royalty Trust)

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