Operatorship of the Assets Sample Clauses

Operatorship of the Assets. Seller does not make any representation or warranty to Purchaser as to transferability or assignability of operatorship of any Assets or the ability of Purchaser or any Person to be designated or qualified as the operator of any Assets.
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Operatorship of the Assets. While Purchaser acknowledges that Purchaser Operating Affiliate, or another Affiliate of Purchaser, desires to succeed Operating Affiliate as operator of those certain Assets or portions thereof that Operating Affiliate may presently operate, Purchaser acknowledges and agrees that neither Sellers nor Company can, and do not, covenant or warrant that Purchaser Operating Affiliate, or another Affiliate of Purchaser, shall become successor operator of such Assets because the Assets or portions thereof may be subject to operating agreements or other Contracts that govern and control the appointment of a successor operator. Sellers agree, however, that as to the Assets that Operating Affiliate operates, Sellers shall cause Operating Affiliate to use its commercially reasonable efforts to (a) support Purchaser Operating Affiliate’s efforts to become successor operator of such Assets (to the extent permitted by applicable Law or under any applicable operating agreement) effective as of Closing (at Purchaser’s sole cost and expense) and (b) designate or appoint, to the extent legally possible and permitted under applicable Law or any applicable operating agreement, Purchaser Operating Affiliate or another Affiliate of Purchaser as successor operator of such Assets effective as of Closing.
Operatorship of the Assets. While Purchaser acknowledges that it, or an Affiliate or subsidiary of Purchaser, desires to succeed Seller (or its Affiliates) as operator of those certain Oil and Gas Properties or portions thereof that Seller (or its Affiliates) may presently operate, Purchaser also acknowledges and hereby agrees that Seller cannot and does not covenant or warrant to any Person that Purchaser, or an Affiliate or subsidiary of Purchaser, shall become successor operator of such Oil and Gas Properties because the Oil and Gas Properties or portions thereof may be subject to operating or other agreements that control the appointment of a successor operator. Seller agrees to use commercially reasonable efforts to support Purchaser’s, or an Affiliate or subsidiary of Purchaser’s efforts to be named as, successor operator to the Assets which Seller operates and designate or appoint, to the extent legally possible and permitted under applicable Law or any applicable operating agreement, Purchaser as successor operator of such Assets, effective as of the Closing (at Purchaser’s sole cost and expense).

Related to Operatorship of the Assets

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.

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