Common use of ORDERLY MARKETING Clause in Contracts

ORDERLY MARKETING. The Covenantor hereby undertakes with each of the Company, Xxxxxxx Xxxxxx and RBC that, in respect of any Disposal of any Restricted Interest during the Orderly Marketing Period, he will instruct RBC to arrange for the Disposal of such shares (the “OM Shares”) at not less than the minimum price which he requests for the Locked-In Shares (the “OM Specified Price”) and if RBC fails to satisfy any of the following: (a) arrange for the Disposal of the OM Shares at a price not less than the OM Specified Price within 5 Business Days of RBC being instructed to do so; (b) provide best execution and competitive terms of disposal; or (c) offer a fee and commission competitive with those charged by other reputable brokers, then the Covenantor shall be entitled to sell all or any of the OM Shares otherwise than through RBC provided that the OM Shares are not sold at a price less than the OM Specified Price.

Appears in 22 contracts

Samples: Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.), Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.), Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.)

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ORDERLY MARKETING. The New Covenantor hereby undertakes with each of the Company, Xxxxxxx Xxxxxx and RBC that, in respect of any Disposal of any Restricted Interest during the Orderly Marketing Period, he will instruct RBC to arrange for the Disposal of such shares (the “OM Shares”) at not less than the minimum price which he requests for the Locked-In Shares (the “OM Specified Price”) and if RBC fails to satisfy any of the following: (a) arrange for the Disposal of the OM Shares at a price not less than the OM Specified Price within 5 Business Days of RBC being instructed to do so; (b) provide best execution and competitive terms of disposal; or (c) offer a fee and commission competitive with those charged by other reputable brokers, then the New Covenantor shall be entitled to sell all or any of the OM Shares otherwise than through RBC provided that the OM Shares are not sold at a price less than the OM Specified Price.

Appears in 18 contracts

Samples: Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.), Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.), Lock in and Orderly Marketing Deed (Resaca Exploitation, Inc.)

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