No Unusual Agreements. All agreements applicable to Borrower’s Working Interest and Net Revenue Interest in the Properties are of the type generally found in the oil and gas industry and the gathering and transmission industry, as applicable, and do not (individually or in the aggregate) contain any unusual provisions which could reasonably be expected to have a Material Adverse Effect.
No Unusual Agreements. Except as Disclosed, no Windrace Group Company is a party to any Contract, instrument, transaction, arrangement, practice, liability or obligation (or offer, tender or proposal) which:
(a) is outside its ordinary course of business;
(b) is of a long-term nature (that is, unlikely to have been fully performed, in accordance with is terms, more than six months after the date on which it was entered into or undertaken);
(c) is a swap, futures or derivatives contract of any nature or involves payment by it of amounts determined by reference to fluctuations in an index of retail prices or shares, or any other index, or any prices of securities, commodities or any other things, or any other benchmark of any nature or in the rate of exchange for any currency;
(d) involves, or is likely to involve, the purchase or supply of goods or services the aggregate purchase or sales value of which will represent in excess of 10% of its turnover for the preceding financial year;
(e) restricts any Windrace Group Company's freedom to operate any business or use its assets in any part of the world as it considers appropriate;
(f) is prohibited, void, illegal or unenforceable, or has any consequences (including the application of disclosure, registration or notification requirements), under any laws or requirements of any jurisdiction relating to competition, anti-trust, fair trading and similar matters.
No Unusual Agreements. Except as Disclosed, each of Exceed and SPAC is not a party to any Contract, instrument, transaction, arrangement, practice, liability or obligation (or offer, tender or proposal) which:
(a) is outside of its ordinary course of business;
(b) is of a long-term nature (that is, unlikely to have been fully performed, in accordance with is terms, more than six (6) months after the date on which it was entered into or undertaken);
(c) is a swap, futures or derivatives contract of any nature or involves payment by it of amounts determined by reference to fluctuations in an index of retail prices or shares, or any other index, or any prices of securities, commodities or any other things, or any other benchmark of any nature or in the rate of exchange for any currency;
(d) involves, or is likely to involve, the purchase or supply of goods or services the aggregate purchase or sales value of which will represent in excess of 10% of its turnover for the preceding financial year;
(e) restricts Exceed’s or SPAC’s freedom to operate any business or use its assets in any part of the world as it considers appropriate;
(f) is prohibited, void, illegal or unenforceable, or has any consequences (including the application of disclosure, registration or notification requirements), under any laws or requirements of any jurisdiction relating to competition, anti-trust, fair trading and similar matters.
No Unusual Agreements. Guarantor is not a party to any contract or agreement which materially and adversely affects its business, property, assets or financial condition.
No Unusual Agreements. No Subsidiary is a party to:
a) any bill xx sale, pledge or hypothecation or to any hiring or leasing agreement, hire purchase agreement, credit or conditional sale agreement, agreement for payment on deferred terms or any other similar agreement or arrangement except in the ordinary course of business;
b) any unusual, onerous or long term (ie., more than six months) agreement or arrangement or any agreement entered into otherwise than on an arms length basis and in the ordinary course of business except in the ordinary course of business;
c) any agreement, obligation, or liability which cannot be properly performed by the Subsidiary without being likely to result in a loss to the Subsidiary or which cannot be performed on time without undue, or unusual, expenditure of money or effort except in the ordinary course of business;
d) any agreement or arrangement with any shareholder, or any person related to a shareholder except for employment or management contracts with the Vendors;
e) any agreement, tender or arrangement (including any obligation referred to in (f) below) which involves, or is likely to involve, obligations or liabilities which by reason of their magnitude, is material to the Subsidiary;
f) any guarantee, indemnity, warranty, comfort or other similar or analogous obligation except in the ordinary course of business; or
g) any option or agreement which gives any person the right to call for the issue of any shares or other securities of the Subsidiary or the transfer of any assets of the Subsidiary.
No Unusual Agreements. Except for obligations of Xxxxxxx Oil & Gas, Inc. for which Guarantor indirectly is responsible, Guarantor is not a party to any contract or agreement which materially and adversely affects its business, property, assets or financial condition.
