Common use of Operation and Maintenance of Properties Clause in Contracts

Operation and Maintenance of Properties. The Obligors, at their own expense, will, and will cause each Subsidiary to: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all equipment, machinery and facilities. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) to the extent none of the Obligors or the Subsidiaries is the operator of any Property, the Obligors shall use reasonable efforts to cause the operator to comply with this Section 10.7.

Appears in 2 contracts

Samples: Note Purchase Agreement (Glori Energy Inc.), Note Purchase Agreement (Glori Energy Inc.)

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Operation and Maintenance of Properties. The ObligorsExcept, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect, the Borrower, at their its own expense, will, and will cause each Restricted Subsidiary to: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and Environmental Lawsproration requirements, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all equipment, machinery and facilities. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) to the extent none of the Obligors or the Subsidiaries Borrower is not the operator of any Property, the Obligors Borrower shall use commercially reasonable efforts to cause the operator to comply with this Section 10.78.05.

Appears in 1 contract

Samples: Credit Agreement (Pressburg, LLC)

Operation and Maintenance of Properties. The ObligorsExcept for matters that could not reasonably be expected to result in a Material Adverse Effect, the Borrower, at their its own expense, will, and will cause each Material Subsidiary to: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all equipment, machinery and facilities. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) operate its Oil and Gas Properties and other material Properties or cause or make reasonable and customary efforts to cause such Oil and Gas Properties and other material Properties to be operated in accordance with the practices of the industry and in material compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements. (f) to the extent none of the Obligors Borrower or the Subsidiaries a Material Subsidiary is not the operator of any Property, the Obligors Borrower shall use reasonable efforts to cause the operator to comply with this Section 10.78.06.

Appears in 1 contract

Samples: Credit Agreement (St Mary Land & Exploration Co)

Operation and Maintenance of Properties. The ObligorsBorrower, at their its own expense, will, and will cause each Subsidiary to, except to the extent any failure to do so could not reasonably be expected to result in a Material Adverse Effect: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental RequirementsLaws, including, without limitation, applicable pro ration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all equipment, machinery and facilities, except to the extent a portion of such Property is no longer capable of producing Hydrocarbons in economically reasonable amounts; provided that the foregoing shall not prohibit any sale of any assets permitted by Section 9.11. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) to the extent none of the Obligors or the Subsidiaries Borrower is not the operator of any Property, the Obligors Borrower shall use reasonable efforts to cause the operator to comply with this Section 10.78.05.

Appears in 1 contract

Samples: Credit Agreement (Atlas Energy, L.P.)

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Operation and Maintenance of Properties. The ObligorsEach Credit Party, at their its own expense, will, and will cause each Subsidiary of its Subsidiaries, as applicable, to: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and but excluding Environmental Laws, which are the subject of Section 8.10, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have result in a Material Adverse EffectChange. (b) keep operate and maintain in a careful and efficient manner in accordance with the practices of the industry and in compliance with all Property material to the conduct of its business applicable contracts and agreements and in good working order and condition, ordinary wear and tear excepted, and preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) compliance with all of its material Oil and Gas Properties and other material PropertiesGovernmental Requirements, including, without limitation, all equipmentapplicable laws, machinery rules and facilities. (c) promptly pay regulations of every other Governmental Authority from time to time constituted to regulate the gathering, transportation or processing of Hydrocarbons and dischargeother minerals therefrom but excluding any Environmental Laws, or make reasonable and customary efforts which are the subject of Section 8.10, except, in each case, where the failure to cause comply could not reasonably be expected to be paid and dischargedresult in a Material Adverse Change, all delay rentalspipelines, royaltiescompressor stations, expenses and indebtedness accruing under the leases xxxxx, gas or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performedcrude oil processing facilities, in accordance with industry standardsfield gathering systems, the obligations required by each and all of the assignmentstanks, deedstank batteries, leasespumps, sub-leasespumping units, contracts and agreements affecting its interests in its Oil and Gas Properties fixtures, valves, fittings, machinery, parts, engines, boilers, meters, apparatus, appliances, tools, implements, casing, tubing, rods, cables, wires, towers, surface and other material Properties. (e) improvements, fixtures and equipment owned in whole or in part by such Credit Party or any of its Subsidiaries that are useful or necessary to the extent none conduct normal operations relating to gathering, transportation, processing or removal of the Obligors Hydrocarbons and other minerals or the Subsidiaries is the operator of any Property, the Obligors shall use reasonable efforts to cause the operator to comply with this Section 10.7.CO(2)

Appears in 1 contract

Samples: Second Lien Credit and Guarantee Agreement (Endeavour International Corp)

Operation and Maintenance of Properties. The ObligorsExcept, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect, the Borrower, at their its own expense, will, and will cause each Restricted Subsidiary to: (a) operate its Oil and Gas Properties and other material Properties or, in the case of non-operated properties, use its reasonable best efforts to, or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Oil and Gas Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and excepted preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all equipment, machinery and facilities. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) operate its Oil and Gas Properties or cause or make reasonable and customary efforts to cause such Oil and Gas Properties to be operated in accordance with the practices of the industry and in material compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements. (f) to the extent none of the Obligors or the Subsidiaries Borrower is not the operator of any Oil and Gas Property, the Obligors Borrower shall use reasonable efforts to cause the operator to comply with this Section 10.78.06.

Appears in 1 contract

Samples: Credit Agreement (Plains Exploration & Production Co)

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