Operations after Effective Time. Seller agrees, from and after the date hereof until the Closing, except as expressly contemplated by this Agreement, as expressly consented to in writing by Buyer, or in situations wherein emergency action is taken in the face of risk to life, property or the environment, to, or to cause its affiliates to:
Operations after Effective Time. Panther agrees, from and after the Execution Date until the Closing, except as expressly contemplated by this Agreement or as expressly consented to in writing by Buyer, that it shall operate as a reasonable and prudent operator in compliance with all laws, the terms and conditions of the Leases and contracts, and otherwise in the ordinary course of business consistent with past practice and consistent with the capital plan as set forth on Schedule 13.01 (the “Capital Plan”). Without limiting the generality of the foregoing and except as otherwise expressly required by this Agreement or the Capital Plan, during the period from the Execution Date to the Closing, Panther shall:
Operations after Effective Time. Pursuant to that certain Transition Services Agreement dated April 1, 2006 by and between Seller and Journey Operating L.L.C. ("Journey Operating") (the "Journey Transition Services Agreement"), Journey Operating is operating certain of the Assets on which Seller is the operator of record and shall continue to do so until such time as the Journey Transition Services Agreement terminates pursuant to the terms thereof. Seller agrees, from and after the date hereof until Closing, except as expressly contemplated by this Agreement or the Journey Transition Services Agreement, or as expressly consented to in writing by Buyer, or in situations wherein emergency action is taken in the face of risk to life, property or the environment, to use commercially reasonable efforts to, or cause Journey Operating to:
Operations after Effective Time. Seller shall not (i) act in any manner -------------------------------- with respect to the Properties other than in the normal, usual and customary manner, consistent with prior practice; (ii) dispose of, encumber or relinquish any of the Properties (other than in the ordinary course of business or as a result of the expiration of a lease or other agreements or contracts that Seller has no right or option to renew); (iii) waive, compromise or settle any material right or claim with respect to any of the Properties; (iv) make capital or workover expenditures with respect to the Properties in an amount which exceeds $5,000.00 without Buyer's consent, except when required by an emergency when there shall have been insufficient time to obtain advance consent; (v) abandon any well unless required to do so by a governmental or regulatory agency or (vi) modify or terminate any lease or other material agreement or contract.
Operations after Effective Time. After the Effective Time, Parent shall have sole and absolute discretion in the manner in which the business and activities of the Surviving Corporation and any other Affiliates of Parent are conducted, including without limitation all decisions concerning the scope and timing of any activities relating to product development, product and clinical testing, regulatory submissions and approval processing, product abandonment, marketing, changes in business plans and budgets, and any and all other actions relating to the operations and activities of the Surviving Corporation.
Operations after Effective Time. From and after the Effective ------------------------------- Time, Seller shall operate Company for the benefit of Purchaser and in the normal course of business with a view to maximizing the earnings of Company. Without limiting the generality of the foregoing, after the Effective Time, Seller shall continue to make any scheduled or required capital expenditures, collect and remit or credit to Company accounts all receivables and continue providing whatever services Seller or its affiliates have traditionally provided Company. Any cash credited to Company's account with Seller, or through any centralized cash management system maintained by Seller, shall be retained by or paid to Company at Closing without any adjustment of the Purchase Price and without being taken into account in preparation of the Effective Date Balance Sheet. Any receivables collected by Seller or any of its affiliates after the Effective Time which relates to the business of Company shall be promptly remitted to Purchaser. Seller shall designate one of its senior officers as a liaison person for the purpose of communicating with officers of Purchaser during the period from the Effective Time through the Closing and assuring compliance with this section.
Operations after Effective Time. Except as set forth in Schedule 5.21, from the Effective Time to the date of this Agreement, the IPP Parties have conducted their business with respect to the Assets in the ordinary course, consistent, in all material respects, with past practices.
Operations after Effective Time. Operations conducted by Seller after the Effective Time with respect to the Properties will be conducted on behalf of Buyer, and Buyer will pay Seller for operation, protection and maintenance of the Properties as follows:
Operations after Effective Time. Except as set forth in Schedule 5.21, from the Effective Time to the date of this Agreement, Sellers have conducted their business with respect to the Assets in the ordinary course, consistent, in all material respects, with past practices.
Operations after Effective Time. Xxxxxx agrees, from and after the date hereof until the Closing, except as expressly contemplated by this Agreement, as expressly consented to in writing by Xxxxx, or in situations wherein emergency action is taken in the face of risk to life, property or the environment, to:
