Common use of Operation of the Assets After Closing Clause in Contracts

Operation of the Assets After Closing. It is expressly understood and agreed that neither Seller nor any of its Affiliates shall be obligated to continue operating any of the Assets upon and after the Closing and Buyer hereby assumes full responsibility for operating (or causing the operation of) all Assets upon and after the Closing. Seller agrees to reasonably cooperate (without any obligation to expend money) with Buyer following Closing to assist Buyer in its efforts to be named successor operator with respect to the Assets.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Cubic Energy Inc), Purchase and Sale Agreement (Gastar Exploration USA, Inc.), Purchase and Sale Agreement (Cubic Energy Inc)

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Operation of the Assets After Closing. It is expressly understood and agreed that neither Seller nor any of its Affiliates shall be obligated to continue operating any of the Assets upon and after the Closing and Buyer hereby assumes full responsibility for operating (or causing the operation of) all Assets upon and after the Closing. Seller agrees to reasonably cooperate (without any obligation to expend money) with Buyer following Closing to assist Buyer in its efforts to be named successor operator with respect to the Assets.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Gastar Exploration Inc.)

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Operation of the Assets After Closing. It is expressly understood and agreed that neither Seller nor any of its Affiliates shall be obligated to continue operating any of the Assets upon and after the Closing and Buyer hereby assumes full responsibility for operating (or causing the operation of) all Assets upon and after the Closing. Seller agrees to reasonably cooperate (without any obligation to expend money) with Buyer Xxxxx following Closing to assist Buyer Xxxxx in its efforts to be named successor operator with respect to the Assets.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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