Performance of Material Project Documents Sample Clauses

Performance of Material Project Documents. Each Loan Party shall perform and observe all of the terms and provisions of each Material Project Document to be performed or observed by it, maintain each such Material Project Document to which it is a party in full force and effect, and enforce such Material Project Document in accordance with its material terms, except to the extent such failure would not reasonably be expected to cause a Material Adverse Effect, or to the extent a Replacement Project Document is entered into by the Borrower or any other Loan Party in replacement of such Material Project Document within a reasonable period of time (as reasonably determined by the Administrative Agent) following such party’s failure to perform or observe any such material term, covenant or agreement.

Performance of Material Project Documents. (i) perform and comply with its obligations under the Material Project Documents to which it is a party and take all reasonable steps to maintain the same in effect and to enforce its rights thereunder, except to the extent that, in each case, that any failure to do so would not be reasonably likely to have a Material Adverse Effect; (ii) exercise such votes and other rights as it may have under the Material Project Documents for the purposes of ensuring (so far as it is able) that: (A) the Borrowing Base Assets are at all times exploited and operated in a reasonable and prudent manner and in accordance with Good Oil Field Practice, all applicable laws (including all Environmental and Social Requirements) and the provisions of the Transaction Documents to which it is a party except in each case, to the extent that any failure to do so would not be reasonably likely to have a Material Adverse Effect; (B) an Operator does not take any action that would constitute a breach of an Authorisation or a Transaction Document to which it is a party; (C) an Operator is in compliance with the then-applicable Environmental and Social Action Plan; and (D) all Environmental Contamination within a Field for which a member of the Obligor Group and/or an Operator are responsible is remedied in accordance with the requirements of any Environmental and Social Requirements applicable to the Field.

Performance of Material Project Documents. Each of the Borrower and the Subsidiary Guarantors shall at all times (a) perform and observe all of its covenants and agreements contained in any of the Material Project Documents to which it is or becomes a party and (b) take any and all action as may be reasonably necessary promptly to enforce and preserve its rights and to collect any and all sums due to it under the Material Project Documents, unless, in the case of (a) and (b), such failure to perform, enforce or preserve could not reasonably be expected to have a Material Adverse Effect.