North Miltxx Xxxld Sample Clauses

North Miltxx Xxxld. The Parties acknowledge that under the terms of that certain letter agreement by and between Enron Natural Gas Marketing & Storage Company, a wholly owned subsidiary of Enron ("NGMS"), and EOG dated as of January 9, 1989 (the "Bammxx Xxxeement"), NGMS has the right to acquire, on the terms and conditions set forth therein, EOG's interests (the "North Miltxx Xxxerests") in the North Miltxx Xxxld located in Harrxx Xxxnty, Texas if EOG desires to sell the North Miltxx Xxxerests or any part thereof or if EOG should cease to be a majority owned subsidiary of Enron (a "Change of Control"). Enron agrees that even if the execution of this Agreement or the consummation of the transactions contemplated hereby constitute a Change of Control, Enron shall not have the right to exercise its right to acquire the North Miltxx Xxxerests; provided, however, if EOG or any of its Subsidiaries directly or indirectly transfers or otherwise disposes of any interest in the North Miltxx Xxxerests to any third party not affiliated with EOG, or if following the Closing any Person acquires more than 50% of the voting stock of EOG, then Enron shall have the right to exercise its right to acquire the North Miltxx Xxxerests (or in the case EOG or any of its Subsidiaries directly or indirectly transfers or otherwise disposes only a portion of their interest in the North Miltxx Xxxerests, such portion of the North Miltxx Xxxerests so transferred or otherwise disposed of) in accordance with the provisions of the Bammxx Xxxeement. Furthermore, neither EOG nor any of its Subsidiaries may directly or indirectly transfer or otherwise dispose of all or a portion of the North Miltxx Xxxerests unless the transferee thereof agrees to be bound by the provisions of this Section and the Bammxx Xxxeement; provided that no such transfer shall relieve EOG of its obligations hereunder or under the Bammxx Xxxeement.