PERL and PEAO ORRI Conveyances Sample Clauses

PERL and PEAO ORRI Conveyances. To the extent possible, no later than the day after the conditional Sale Order is entered by the Bankruptcy Court but in no event later than at the Alaska Interests Closing, Sellers shall have delivered or caused to be delivered to Xxxxx & Xxxxxx, LLP, counsel to Sellers, at the address for such counsel listed in Article 17, any and all original duly executed and notarized conveyance of overriding royalty interest or assignment documents pursuant to 11 AAC 82.605(b) and applicable federal regulations from PERL deemed necessary by Sellers to implement and effect the PERL ORRI and PEAO ORRI conveyances required pursuant to Section 7.2(l) on customarily accepted forms and reasonably acceptable to Donkel Oil & Gas, LLC to carry out the intent and purpose of Section 7.2(l) and Section 7.3(j). It is understood and agreed that Sellers would instruct Xxxxx & Xxxxxx, LLP to send such documents to Donkel Oil & Gas, LLC upon the effectiveness of the Alaska Interests Closing, for recordation by Donkel Oil & Gas, LLC in the appropriate Alaska recording districts. If this Agreement is terminated prior to the Alaska Interests Closing, it is understood and agreed that such original conveyance and assignment documents would be destroyed by or at the direction of Sellers. It is understood that pursuant to paragraph 31 of the Sale Order, in connection with the conveyance of overriding royalty interests to Donkel Oil & Gas, LLC pursuant to Section 7.2(l), as referenced in this Section 7.3(j), so long as such conveyances do not constitute an initial separation from the working interest, the State of Alaska shall take no action in accordance with 11 AAC 82.605(b) only with respect to such conveyances.