Common use of Non-Operated Properties Clause in Contracts

Non-Operated Properties. If the Company is not the operator of a ----------------------- particular portion of the Assets, the obligations of the Company in Section 8.1 above with respect to such portion of the Assets which have reference to operations or activities that pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that the Company use reasonable diligence (without being obligated to incur any expense or institute any cause of action) to cause the operator of such portion of the Assets to take such actions or render such performance within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Cec Resources LTD), Stock Purchase Agreement (Carbon Energy Corp)

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Non-Operated Properties. If the Company is not the operator of a ----------------------- particular portion of the Assets, the obligations of the Company in Section 8.1 9.1 above with respect to such portion of the Assets Assets, which have reference to operations or activities that pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that the Company use its reasonable diligence best efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such portion of the Assets to take such actions or render such performance within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Stock Purchase Agreement (Tesoro Petroleum Corp /New/)

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Non-Operated Properties. If the Company is not the operator of a ----------------------- particular portion of the Assets, the obligations of the Company in Section 8.1 above with respect to such portion of the Assets which have reference to operations or activities that pursuant to existing contracts are carried out or performed by the operator, shall be construed to require only that the Company use its reasonable diligence best efforts (without being obligated to incur any expense or institute any cause of action) to cause the operator of such portion of the Assets to take such actions or render such performance within the constraints of the applicable operating agreements and other applicable agreements.

Appears in 1 contract

Samples: Stock Purchase Agreement (Mesa Inc)

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