Common use of Operation of Properties and Equipment Clause in Contracts

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 8 contracts

Samples: Credit Agreement (Par Petroleum Corp/Co), Credit Agreement (Whiting Petroleum Corp), Credit Agreement (Whiting Petroleum Corp)

AutoNDA by SimpleDocs

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests properties so long as such Mineral Interests oil and gas leases are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such to the extent that the failure to maintain, develop, operate, so observe or and comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 7 contracts

Samples: Credit Agreement (Laredo Petroleum, Inc.), Credit Agreement (Laredo Petroleum, Inc.), Credit Agreement (Laredo Petroleum, Inc.)

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests properties so long as such Mineral Interests oil and gas leases are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such to the extent that the failure to maintain, develop, operate, so observe or and comply could not reasonably be expected to would have a Material Adverse Effect.

Appears in 5 contracts

Samples: Credit Agreement (GeoMet, Inc.), Credit Agreement (GeoMet, Inc.), Credit Agreement (GeoMet, Inc.)

Operation of Properties and Equipment. (a) Parent and Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could would not reasonably be expected to have a Material Adverse Effect.

Appears in 3 contracts

Samples: Credit Agreement (Denbury Resources Inc), Credit Agreement (Denbury Resources Inc), Credit Agreement (Denbury Resources Inc)

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could would not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Denbury Resources Inc), Credit Agreement (Denbury Resources Inc)

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate (or cause the operator to maintain and operate to the extent any such Credit Party is not the operator) its Mineral Interests in a good and workmanlike manner, and observe and comply in all material respects with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Encore Acquisition Co)

Operation of Properties and Equipment. (a) Each Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, all in accordance with what a prudent operator under similar circumstances would do, except where such failure to maintain, develop, operate, observe or comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Credo Petroleum Corp)

AutoNDA by SimpleDocs

Operation of Properties and Equipment. (a) Parent and Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests properties so long as such Mineral Interests oil and gas leases are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such to the extent that the failure to maintain, develop, operate, so observe or and comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Castle Energy Corp)

Operation of Properties and Equipment. (a) Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and 57 comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Quest Resource Corp)

Operation of Properties and Equipment. (a) Borrower will, and will cause each of the other Credit Party Parties to, maintain, develop and operate (or cause the operator to maintain and operate to the extent Borrower or any other Credit Party is not the operator) its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests so long as such Mineral Interests are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such failure to maintain, develop, operate, observe or comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

Operation of Properties and Equipment. (a) Parent and each Borrower will, and will cause each other Credit Party to, maintain, develop and operate its Mineral Interests in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to such Mineral Interests properties so long as such Mineral Interests oil and gas leases are capable of producing Hydrocarbons and accompanying elements in paying quantities, except where such to the extent that the failure to maintain, develop, operate, so observe or and comply could not reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Prize Energy Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.