Operations after Effective Date Sample Clauses

Operations after Effective Date. Operations conducted by Seller after the Effective Date with respect to the Assets will be conducted on behalf of Purchaser, and Purchaser will reimburse Seller for all costs, expenses and liabilities, including applicable overhead, incurred for the operation, protection and maintenance of the Assets during said time period.
Sample 1Sample 2
AutoNDA by SimpleDocs
Operations after Effective Date. McMoRan has conducted its business with respect to the Assets in the ordinary course, consistent, in all material respects, with past practices and good oilfield practice.
Sample 1
Operations after Effective Date. Operations conducted by Seller after the Effective Date with respect to the Properties will be conducted on behalf of Buyer in a good and wxxxxxx like manner in consultation with Buyer, and Buyer will pay Seller for operation, protection and maintenance expenses relating to the Properties on an actual cost basis provided that Seller will not undertake any single operation on the Properties other than an emergency, in which the net cost to Seller exceeds $50,000 without the prior written consent of Buyer, and provided further that all actions and operations conducted by Seller on or after the Effective Date through the date of execution of this Agreement are deemed to have been approved by Buyer. These charges will be included in the Final Statement as provided in this Agreement. After the Effective Date, Seller shall not assign, encumber, or otherwise transfer any Property, except for the sale of Hydrocarbons in the ordinary course of business and shall not enter into any new contract or agreement relating to the Properties or terminate or modify an Assigned Contract without the prior written consent of Buyer. Such operation of the Properties by Seller on behalf of Buyer shall constitute Buyer’s use, occupation, operation, and/or maintenance of the Properties for purposes of Paragraph 22 hereof, and accordingly BUYER SHALL INDEMNIFY AND HOLD THE SELLER GROUP HARMLESS AS SET FORTH IN PARAGRAPH 22 FOR ANY AND ALL CLAIMS FOR PERSONAL INJURY, DEATH OR DAMAGE TO PROPERTY OR TO THE ENVIRONMENT, OR FOR ANY OTHER RELIEF, CLAIMS, OR CAUSES OF ACTION ARISING DIRECTLY OR INDIRECTLY FROM, OR INCIDENT TO, SELLER’S OPERATION OF THE PROPERTIES, INCLUDING ANY SUCH LIABILITIES THAT ARE ALLEGED TO HAVE RESULTED FROM THE NEGLIGENCE OR STRICT LIABILITY OF ANY MEMBER OF THE SELLER GROUP. Buyer acknowledges Seller owns undivided interests in certain of the Properties that it is not the operator thereof, and Buyer agrees that the acts or omissions of the other working interests owners (including the operators) who are not Seller or affiliates of Seller shall not constitute a breach of the provisions of this Paragraph 22.b, nor shall any action required by a vote of working interest owners constitute such a breach so long as Seller has voted its interest in a manner that complies with the provisions of this Paragraph 22.b.
Sample 1
Operations after Effective Date. Operations conducted by Seller after the Effective Date with respect to the Properties will be conducted on behalf of Buyer in a good and xxxxxxx like manner in consultation with Buyer, and Buyer will pay Seller for operation, protection and maintenance expenses relating to the Properties on an actual cost basis provided that Seller will not undertake any single operation on the Properties other than an emergency, in which the net cost to Seller exceeds $75,000 without the prior written consent of Buyer, and provided further that all actions and operations conducted by Seller on or after the Effective Date through the date of execution of this Agreement are deemed to have been approved by Buyer. These charges will be included in the Final Statement as provided in this Agreement. After the Effective Date, Seller shall not assign, encumber, or otherwise transfer any Property, except for the sale of Hydrocarbons in the ordinary course of business and shall not enter into any new contract or agreement relating to the Properties or terminate or modify an Assigned Contract without the prior written consent of Buyer.
Sample 1
Operations after Effective Date. The production or sale of the Products by Buyer from and after the Effective Date, and the use, application and disposition of the Assets by Buyer on or after the Effective Date.
Sample 1

Related to Operations after Effective Date

  • The Effective Date The Merger shall become effective on the date and at the time (the “Effective Date”) that:

  • Effect; Effective Date Upon (i) delivery to the Administrative Agent of a notice of assignment, substantially in the form attached as Exhibit “I” to Exhibit G hereto (a “Notice of Assignment”), together with any consents required by Section 12.3(i), and (ii) payment of a $3,500 fee by the assignor or assignee to the Administrative Agent for processing such assignment, such assignment shall become effective on the effective date specified in such Notice of Assignment. The Notice of Assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans under the applicable assignment agreement are “plan assets” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be “plan assets” under ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to the Agreement and any other Loan Document executed by the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party hereto, and no further consent or action by the Borrower, the Lenders or the Administrative Agent shall be required to release the transferor Lender, and the transferor Lender shall automatically be released on the effective date of such assignment, with respect to the percentage of the Aggregate Commitment and Loans assigned to such Purchaser. Upon the consummation of any assignment to a Purchaser pursuant to this Section 12.3(ii), the transferor Lender, the Administrative Agent and the Borrower shall make appropriate arrangements so that replacement Notes are issued to such transferor Lender and new Notes or, as appropriate, replacement Notes, are issued to such Purchaser, in each case in principal amounts reflecting its Commitment, as adjusted pursuant to such assignment.

  • Revocation/Effective Date This Agreement shall not become effective or enforceable until the eighth day after Employee signs this Agreement. In other words, Employee may revoke Employee’s acceptance of this Agreement within seven (7) days after the date Employee signs it. Employee’s revocation must be in writing and received by ______________, the Company’s ______________ Officer, 0000 Xxxxxx Xxxx, Xxxxx 000, Xxx Xxxxx, XX 00000 by 5:00 p.m. Central Time on the seventh day in order to be effective. If Employee does not revoke acceptance within the seven (7) day period, Employee’s acceptance of this Agreement shall become binding and enforceable on the eighth day (“Effective Date”). The Severance Package shall become due and payable in accordance with Section 2 above after the Effective Date.

  • Effective Date The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

  • Conditions to Effective Date It shall be a condition to the Effective Date that each of the following conditions shall have been satisfied or waived as of such date, and upon such satisfaction or waiver, this Agreement shall be effective:

  • Definition of the Terms “Business Day” and “Subsidiary For purposes of this Agreement, (a) “business day” means any day on which the New York Stock Exchange, Inc. is open for trading and (b) “affiliate” and “subsidiary” have their respective meanings set forth in Rule 405 of the Rules and Regulations.

  • Revocation Period and Effective Date In the event that Executive elects to sign and return to the Company a copy of this Agreement, he/she has a period of seven (7) days (the “Revocation Period”) following the date of such execution to revoke this Release, after which time this agreement will become effective (the “Effective Date”) if not previously revoked. In order for the revocation to be effective, written notice must be received by the Company no later than close of business on the seventh day after the Executive signs this Release at which time the Revocation Period shall expire.

  • Effective Date of Agreement; Termination (a) This Agreement shall become effective when the parties hereto have executed and delivered this Agreement.

  • Conditions to the Effective Date The obligation of each Lender to amend and restated the Existing Credit Agreement and continue the Loans hereunder on the Effective Date is subject to satisfaction or waiver in writing by the Lenders of the following conditions precedent:

  • Effective Date of Agreement This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.

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