Common use of NORM Clause in Contracts

NORM. BUYER ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT OIL AND GAS PRODUCING FORMATIONS CAN CONTAIN NATURALLY OCCURRING RADIOACTIVE MATERIAL. SCALE FORMATION OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS OF NORM ON EQUIPMENT, MATERIALS AND OTHER PROPERTY. SOME OR ALL OF THE EQUIPMENT, MATERIALS AND OTHER PROPERTY SUBJECT TO THIS AGREEMENT MAY HAVE LEVELS OF NORM ABOVE BACKGROUND LEVELS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS EQUIPMENT, MATERIALS AND OTHER PROPERTY BY REASON THEREOF. THEREFORE, BUYER MAY NEED TO FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENT, MATERIALS AND OTHER PROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR SELLER SHALL BE ENTITLED TO RECOVER FROM THE OTHER, RESPECTIVELY, AND EACH PARTY RELEASES THE OTHER PARTY FROM, ANY LOSSES, COSTS, EXPENSES, OR DAMAGES ARISING UNDER THIS AGREEMENT OR IN CONNECTION WITH OR WITH RESPECT TO THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT ANY AMOUNT IN EXCESS OF THE ACTUAL COMPENSATORY DAMAGES, COURT COSTS AND REASONABLE ATTORNEYS FEES, SUFFERED BY SUCH PARTY. BUYER AND SELLER BOTH WAIVE, AND RELEASE THE OTHER FROM, ANY RIGHT TO RECOVER PUNITIVE, SPECIAL, EXEMPLARY AND CONSEQUENTIAL DAMAGES ARISING OUT OF, RESULTING FROM OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT; PROVIDED, HOWEVER, ANY SUCH DAMAGES RECOVERED BY A THIRD PARTY (OTHER THAN SUBSIDIARIES, AFFILIATES OR PARENTS OF A PARTY) FOR WHICH A PARTY OWES THE OTHER PARTY AN INDEMNITY UNDER THIS ARTICLE 8 SHALL NOT BE WAIVED.

NORM. BUYER ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT THE OIL AND GAS PRODUCING FORMATIONS CAN ASSETS HAVE BEEN USED FOR EXPLORATION, DEVELOPMENT AND PRODUCTION OF HYDROCARBONS AND WATER AND THAT THERE MAY BE PETROLEUM, PRODUCED WATER, WASTES OR OTHER MATERIALS LOCATED ON, UNDER OR ASSOCIATED WITH THE OIL AND GAS ASSETS. EQUIPMENT AND SITES Table of Contents INCLUDED IN THE OIL AND GAS ASSETS MAY CONTAIN NATURALLY OCCURRING RADIOACTIVE MATERIALNORM. SCALE FORMATION NORM MAY AFFIX OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS ATTACH ITSELF TO THE INSIDE OF NORM ON EQUIPMENTXXXXX, MATERIALS AND EQUIPMENT AS SCALE, OR IN OTHER PROPERTY. SOME OR ALL OF FORMS; THE EQUIPMENTXXXXX, MATERIALS AND EQUIPMENT LOCATED ON OR INCLUDED IN THE OIL AND GAS ASSETS MAY CONTAIN NORM AND OTHER PROPERTY SUBJECT TO THIS AGREEMENT WASTES OR HAZARDOUS SUBSTANCES/MATERIALS; AND NORM CONTAINING MATERIAL AND OTHER WASTES OR HAZARDOUS SUBSTANCES/MATERIALS MAY HAVE LEVELS BEEN BURIED, COME IN CONTACT WITH THE SOIL OR OTHERWISE BEEN DISPOSED OF ON OR AROUND THE OIL AND GAS ASSETS. SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMEDIATION, REMOVAL, TRANSPORTATION OR DISPOSAL OF WASTES, ASBESTOS, HAZARDOUS SUBSTANCES/MATERIALS, INCLUDING HYDROGEN SULFIDE GAS AND NORM ABOVE BACKGROUND LEVELSFROM THE OIL AND GAS ASSETS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS EQUIPMENTFROM AND AFTER THE CLOSING, MATERIALS BUYER SHALL ASSUME RESPONSIBILITY FOR THE CONTROL, STORAGE, HANDLING, TRANSPORTING AND DISPOSING OF OR DISCHARGE OF ALL MATERIALS, SUBSTANCES AND WASTES FROM THE OIL AND GAS ASSETS (INCLUDING PRODUCED WATER, HYDROGEN SULFIDE GAS, DRILLING FLUIDS, NORM AND OTHER PROPERTY BY REASON THEREOF. THEREFOREWASTES), BUYER MAY NEED TO FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENTPRESENT AFTER THE EFFECTIVE TIME, MATERIALS IN A SAFE AND OTHER PROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR SELLER SHALL BE ENTITLED TO RECOVER FROM THE OTHER, RESPECTIVELY, PRUDENT MANNER AND EACH PARTY RELEASES THE OTHER PARTY FROM, ANY LOSSES, COSTS, EXPENSES, OR DAMAGES ARISING UNDER THIS AGREEMENT OR IN CONNECTION ACCORDANCE WITH OR WITH RESPECT TO THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT ANY AMOUNT IN EXCESS OF THE ACTUAL COMPENSATORY DAMAGES, COURT COSTS AND REASONABLE ATTORNEYS FEES, SUFFERED BY SUCH PARTY. BUYER AND SELLER BOTH WAIVE, AND RELEASE THE OTHER FROM, ANY RIGHT TO RECOVER PUNITIVE, SPECIAL, EXEMPLARY AND CONSEQUENTIAL DAMAGES ARISING OUT OF, RESULTING FROM OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT; PROVIDED, HOWEVER, ANY SUCH DAMAGES RECOVERED BY A THIRD PARTY (OTHER THAN SUBSIDIARIES, AFFILIATES OR PARENTS OF A PARTY) FOR WHICH A PARTY OWES THE OTHER PARTY AN INDEMNITY UNDER THIS ARTICLE 8 SHALL NOT BE WAIVEDALL APPLICABLE ENVIRONMENTAL LAWS.

NORM. BUYER ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT OIL AND GAS PRODUCING FORMATIONS CAN CONTAIN NATURALLY OCCURRING RADIOACTIVE MATERIAL. SCALE FORMATION OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS OF NORM ON EQUIPMENT, MATERIALS AND OTHER PROPERTYMATERIAL (NORM). SOME OR ALL OF THE EQUIPMENT, MATERIALS MATERIAL, APPURTENANCES, IMPROVEMENTS AND OTHER PROPERTY FIXTURES SUBJECT TO THIS AGREEMENT MAY HAVE LEVELS OF NORM ABOVE BACKGROUND LEVELS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS EQUIPMENT, MATERIALS AND OTHER PROPERTY BY REASON THEREOF. THEREFORE, BUYER MAY NEED TO FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENT. BUYER AGREES TO INDEMNIFY, MATERIALS DEFEND AND OTHER PROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR HOLD SELLER SHALL BE ENTITLED TO RECOVER HARMLESS FROM THE OTHER, RESPECTIVELY, AND EACH PARTY RELEASES THE OTHER PARTY FROM, AGAINST ANY LOSSES, COSTS, EXPENSES, OR DAMAGES ARISING UNDER THIS AGREEMENT OR IN CONNECTION WITH OR AND ALL CLAIMS WITH RESPECT TO ALL LIABILITIES AND OBLIGATIONS OR ALLEGED OR THREATENED LIABILITIES AND OBLIGATIONS, INCLUDING CLAIMS FOR PERSONAL INJURY, ILLNESS, DISEASE, WRONGFUL DEATH, DAMAGE TO PROPERTY, ENVIRONMENTAL POLLUTION OR CONTAMINATION, CLEANUP EXPENSES AND LIABILITY BASED ON STRICT LIABILITY OR CONDITION OF ASSETS, ATTRIBUTABLE TO OR ARISING OUT OF THE TRANSACTIONS CONTEMPLATED EXISTENCE OF NORM ON THE EQUIPMENT, MATERIAL, APPURTENANCES, IMPROVEMENTS AND FIXTURES SUBJECT TO THIS AGREEMENT, INCLUDING, WITHOUT LIMITATIONS ANY INTEREST, PENALTY, REASONABLE ATTORNEYS' FEES AND OTHER COSTS AND EXPENSES INCURRED IN CONNECTION THEREWITH OR THE DEFENSE THEREOF, EXCEPT TO THE EXTENT CAUSED BY (AND INCLUDING) ANY SOLE OR CONCURRENT NEGLIGENCE OR STRICT LIABILITY OF SELLER. THE INDEMNITY PROVIDED FOR IN THIS AGREEMENT ANY AMOUNT IN EXCESS OF THE ACTUAL COMPENSATORY DAMAGES, COURT COSTS AND REASONABLE ATTORNEYS FEES, SUFFERED BY SUCH PARTY. BUYER AND SELLER BOTH WAIVE, AND RELEASE THE OTHER FROM, ANY RIGHT TO RECOVER PUNITIVE, SPECIAL, EXEMPLARY AND CONSEQUENTIAL DAMAGES ARISING OUT OF, RESULTING FROM OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT; PROVIDED, HOWEVER, ANY SUCH DAMAGES RECOVERED BY A THIRD PARTY (OTHER THAN SUBSIDIARIES, AFFILIATES OR PARENTS OF A PARTY) FOR WHICH A PARTY OWES THE OTHER PARTY AN INDEMNITY UNDER THIS ARTICLE 8 SECTION 16.7 SHALL NOT BE WAIVEDINTERPRETED TO COVER OR APPLY TO CLAIMS FOR PERSONAL INJURY, ILLNESS, DISEASE OR WRONGFUL DEATH WHICH ARISE OR ARE ASSERTED PRIOR TO THE EFFECTIVE DATE AND TIME OR ARE ASSERTED AFTER THE EFFECTIVE DATE AND TIME AND ARE ATTRIBUTABLE TO THE OWNERSHIP AND OPERATION OF THE ASSETS BY SELLER PRIOR TO THE EFFECTIVE DATE AND TIME.

NORM. BUYER ACKNOWLEDGES THAT IT HAS THE ASSETS HAVE BEEN INFORMED USED FOR EXPLORATION, DEVELOPMENT AND PRODUCTION OF HYDROCARBONS AND WATER AND THAT OIL THERE MAY BE PETROLEUM, PRODUCED WATER, WASTES OR OTHER MATERIALS LOCATED ON, UNDER OR ASSOCIATED WITH THE ASSETS. EQUIPMENT AND GAS PRODUCING FORMATIONS CAN SITES INCLUDED IN THE ASSETS MAY CONTAIN NATURALLY OCCURRING RADIOACTIVE MATERIALNORM. SCALE FORMATION NORM MAY AFFIX OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS ATTACH ITSELF TO THE INSIDE OF NORM ON EQUIPMENTXXXXX, MATERIALS AND EQUIPMENT AS SCALE, OR IN OTHER PROPERTY. SOME OR ALL OF FORMS; THE EQUIPMENTXXXXX, MATERIALS AND EQUIPMENT LOCATED ON OR INCLUDED IN THE ASSETS MAY CONTAIN NORM AND OTHER PROPERTY SUBJECT TO THIS AGREEMENT WASTES OR HAZARDOUS SUBSTANCES; AND NORM CONTAINING MATERIAL AND OTHER WASTES OR HAZARDOUS SUBSTANCES MAY HAVE LEVELS BEEN BURIED, COME IN CONTACT WITH THE SOIL OR OTHERWISE BEEN DISPOSED OF ON OR AROUND THE ASSETS. SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMEDIATION, REMOVAL, TRANSPORTATION OR DISPOSAL OF WASTES, ASBESTOS OR HAZARDOUS SUBSTANCES, INCLUDING HYDROGEN SULFIDE GAS AND NORM ABOVE BACKGROUND LEVELSFROM THE ASSETS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS EQUIPMENTFROM AND AFTER THE CLOSING, MATERIALS BUYER SHALL ASSUME RESPONSIBILITY FOR THE CONTROL, STORAGE, HANDLING, TRANSPORTING AND DISPOSING OF OR DISCHARGE OF ALL MATERIALS, SUBSTANCES AND WASTES FROM THE ASSETS (INCLUDING PRODUCED WATER, HYDROGEN SULFIDE GAS, DRILLING FLUIDS, NORM AND OTHER PROPERTY BY REASON THEREOF. THEREFOREWASTES), BUYER MAY NEED TO FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENTPRESENT AFTER THE EFFECTIVE DATE, MATERIALS IN A SAFE AND OTHER PROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR SELLER SHALL BE ENTITLED TO RECOVER FROM THE OTHER, RESPECTIVELY, PRUDENT MANNER AND EACH PARTY RELEASES THE OTHER PARTY FROM, ANY LOSSES, COSTS, EXPENSES, OR DAMAGES ARISING UNDER THIS AGREEMENT OR IN CONNECTION ACCORDANCE WITH OR WITH RESPECT TO THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT ANY AMOUNT IN EXCESS OF THE ACTUAL COMPENSATORY DAMAGES, COURT COSTS AND REASONABLE ATTORNEYS FEES, SUFFERED BY SUCH PARTY. BUYER AND SELLER BOTH WAIVE, AND RELEASE THE OTHER FROM, ANY RIGHT TO RECOVER PUNITIVE, SPECIAL, EXEMPLARY AND CONSEQUENTIAL DAMAGES ARISING OUT OF, RESULTING FROM OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT; PROVIDED, HOWEVER, ANY SUCH DAMAGES RECOVERED BY A THIRD PARTY (OTHER THAN SUBSIDIARIES, AFFILIATES OR PARENTS OF A PARTY) FOR WHICH A PARTY OWES THE OTHER PARTY AN INDEMNITY UNDER THIS ARTICLE 8 SHALL NOT BE WAIVEDALL APPLICABLE ENVIRONMENTAL LAWS.

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT OIL AND GAS PRODUCING FORMATIONS CAN SOME EQUIPMENT LOCATED ON THE ASSETS MAY CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIALMATERIAL (“NORM”). SCALE FORMATION IN THIS REGARD, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS ATTACH ITSELF TO THE INSIDE OF NORM ON EQUIPMENT, MATERIALS AND EQUIPMENT AS SCALE OR IN OTHER PROPERTYFORMS, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY THE ASSETS MAY CONTAIN NORM AND THAT NORM-CONTAINING MATERIALS MAY BE BURIED OR MAY HAVE BEEN OTHERWISE DISPOSED OF ON THE LAND AND PROPERTIES COMPRISING OR SITUATED ON THE ASSETS. SOME OR ALL BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND DISPOSAL OF ASBESTOS AND NORM FROM THE ASSETS WHERE THEY MAY BE FOUND. BUYER SHALL, BY CLOSING ITS PURCHASE OF THE EQUIPMENTASSETS, MATERIALS ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS AND OTHER PROPERTY SUBJECT TO THIS AGREEMENT MAY HAVE LEVELS HAZARDOUS SUBSTANCES AS A RESULT OF NORM ABOVE BACKGROUND LEVELSTHESE OPERATIONS. A HEALTH HAZARD MAY EXIST THE GENERATION, FORMATION, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN CONNECTION WITH THIS EQUIPMENT, MATERIALS AND OTHER PROPERTY BY REASON THEREOF. THEREFORE, BUYER MAY NEED TO FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENT, MATERIALS AND OTHER PROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR SELLER OR ON THE ASSETS SHALL BE ENTITLED TO RECOVER FROM THE OTHER, RESPECTIVELYSOLE RESPONSIBILITY OF BUYER, AND EACH PARTY RELEASES THE OTHER PARTY BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY ARISING FROM, ANY LOSSES, COSTS, EXPENSES, OR DAMAGES ARISING UNDER THIS AGREEMENT OUT OF OR IN CONNECTION WITH WITH, OR WITH RESPECT OTHERWISE RELATING TO, THE PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR AFTER THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT ANY AMOUNT IN EXCESS EFFECTIVE TIME, AND REGARDLESS OF THE ACTUAL COMPENSATORY DAMAGESSOLE, COURT COSTS AND REASONABLE ATTORNEYS FEESJOINT, SUFFERED BY SUCH CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF SELLER OR ANY OTHER PERSON OR PARTY. BUYER AND SELLER BOTH WAIVE, AND RELEASE THE OTHER FROM, ANY RIGHT TO RECOVER PUNITIVE, SPECIAL, EXEMPLARY AND CONSEQUENTIAL DAMAGES ARISING OUT OF, RESULTING FROM OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT; PROVIDED, HOWEVER, ANY SUCH DAMAGES RECOVERED BY A THIRD PARTY (OTHER THAN SUBSIDIARIES, AFFILIATES OR PARENTS OF A PARTY) FOR WHICH A PARTY OWES THE OTHER PARTY AN INDEMNITY UNDER THIS ARTICLE 8 SHALL NOT BE WAIVED.