Common use of Operation of Properties Clause in Contracts

Operation of Properties. The Borrower will, and will cause the other Harvest Parties to, manage, maintain and operate their respective property, or, if it is not the operator, use reasonable commercial efforts to ensure that such property is managed, maintained and operated, in accordance with (i) sound industry practice and (ii) all applicable Laws, except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

Appears in 7 contracts

Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.), Assignment Agreement (Harvest Operations Corp.)

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Operation of Properties. The Borrower will, and will cause the each other Harvest Parties Enerplus Party to, manage, maintain and operate their respective property, or, if it is not the operator, use reasonable commercial efforts to ensure that such property is managed, maintained and operated, in accordance with (i) sound industry practice and (ii) all applicable Laws, except except, in any case, to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

Appears in 3 contracts

Samples: Term Credit Agreement (ENERPLUS Corp), Credit Agreement (ENERPLUS Corp), Credit Agreement (ENERPLUS Corp)

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Operation of Properties. The Borrower will, and will cause the each other Harvest Parties Borrower Group Member to, manage, maintain and operate their its respective property, or, if it is not the operator, use reasonable commercial efforts to ensure that such property is managed, maintained and operated, in accordance with (i) sound industry practice and (ii) in accordance in all respects with applicable LawsLaw, except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)

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