Common use of Oil and Gas Properties Clause in Contracts

Oil and Gas Properties. Except as set forth in the Buyer SEC Documents, Buyer or its applicable subsidiary has good and defensible title to all of its oil and gas properties, free and clear of all Encumbrances, other than (i) Permitted Exceptions; (ii) Encumbrances under gas sales contracts, operating agreements, unitization and pooling agreements and such other agreements as are customarily found in connection with comparable drilling and producing operations and (iii) other Encumbrances that are, individually or in the aggregate, not material in amount and do not materially interfere with the Buyer’s or any of its subsidiaries’ use or enjoyment of their respective oil and gas properties.