Pipeline Properties Sample Clauses
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Pipeline Properties. Each Obligor will cause to be done all things reasonably necessary to preserve and keep in good repair, working order and efficiency all of its Pipeline Properties and other material Properties including, without limitation, all equipment, machinery and facilities, and from time to time will make all the reasonably necessary repairs, renewals and replacements so that at all times the state and condition of its Pipeline Properties and other material Properties will be fully preserved and maintained, (x) except to the extent that the ▇▇▇▇▇ and field to which such portions of the Pipelines are connected are no longer producing Hydrocarbons in economically reasonable amounts, and (y) except that the foregoing shall not apply to Pipeline Properties that are not gathering Hydrocarbons on a regular basis as of the Closing Date. Each Obligor will promptly: (i) pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all rentals, royalties, expenses and indebtedness accruing under the rights of way, licenses, leases or other agreements affecting or pertaining to its Pipeline Properties, (ii) perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the rights of way, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Pipeline Properties and other material Properties, (iii) will do all other things necessary to keep unimpaired, except for Liens described in SECTION 9.02, its rights with respect to its Pipeline Properties and other material Properties and prevent any forfeiture thereof or a default thereunder, except to the extent that the ▇▇▇▇▇ and field to which such portions of the Pipelines are connected are no longer producing Hydrocarbons in economically reasonable amounts and except for Transfers permitted by SECTION 9.16. Each Obligor will operate its Pipeline Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements.
Pipeline Properties. The parties acknowledge that the Sonder Parties are in the process of acquiring or developing the Pipeline Properties and desires to add such Pipeline Properties to the Collection. ▇▇▇▇▇▇▇▇ acknowledges and agrees that it has pre-approved the addition of the Pipeline Properties to the Collection and this Agreement, and such Pipeline Properties will not be subject to compliance with the terms of Section 1.5, it being agreed that each such Pipeline Property will be deemed a Property and included in the Collection and this Agreement effective immediately following the completion of the requirements of Exhibit E and Exhibit I to permit such New Sonder Property to become Available. 3632659v2 –License Agreement 4
Pipeline Properties. (a) On giving the Agent not less than 5 Business Days notice in respect of an Immediate Pipeline Property, and 30 Business Days notice in respect of an Additional Acquisition Property, a member of the Group (other than the Borrower or an Intermediate Holdco) may acquire a Pipeline Property (or shares in a corporate entity owning that Pipeline Property) if:
(i) the acquisition is in line with the Shareholder’s stated investment strategy;
(ii) (other than in respect of an Excluded Additional Acquisition Property or Excluded Propco) the Agent has received all of the documents and other evidence listed in Part II of Schedule 2 (Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied;
(iii) in relation to the acquisition of each Immediate Pipeline Property, the acquisition is to be accompanied by a Utilisation the Facility (in the relevant currency) to finance in part that acquisition;
(iv) in relation to the acquisition of any Additional Acquisition Property, if the Borrower is intending to raise debt finance, the Lenders have been given the opportunity to finance that acquisition on terms similar to the terms of this Agreement and otherwise to be agreed between the Lenders and the Borrower (both acting reasonably);
(v) if the Lenders are funding the acquisition of that Pipeline Property, the aggregate of the Loans and the Asset-Level Loans does not exceed 82.5 per cent. of the Net Purchase Price of the Properties; and
(vi) if the Lenders are not funding the acquisition of that Additional Acquisition Property, the aggregate of the Financial Indebtedness obtained from third party lenders does not exceed 85 per cent. of the Net Purchase Price of that Additional Acquisition Property and the third party lenders do not have recourse to the Borrower or the Intermediate Holdcos.
(b) On acquisition, such Pipeline Property shall become a Property for the purposes of this Agreement.
Pipeline Properties. Real Estate to be acquired by the Credit Parties on or after the date hereof, which are intended to become Collateral Properties hereunder in accordance with §5.2 at Borrower’s sole discretion, including, without limitation, the Real Estate set forth on Schedule 1.4 to this Agreement..
Pipeline Properties. Operations of that portion of the Properties comprising the pipeline and pipeline-related facilities will be governed by the Joint Ownership Agreement (with the Contract Operating Agreement attached thereto) attached hereto as Exhibit “C” and made a part hereof by this reference for all purposes, Buyer hereby taking such interests in the pipeline and pipeline-related facilities subject to said Joint Ownership Agreement and Contract Operating Agreement.
Pipeline Properties. Particulars Details Details Details
Pipeline Properties. Operations of that portion of the Properties comprising the pipeline and pipeline-related facilities will be governed by the Joint Ownership Agreement (with the Contract Operating Agreement attached thereto) attached hereto as Exhibit “C” and made a part hereof by this reference for all purposes, Buyer hereby taking such interests in the pipeline and pipeline-related facilities subject to said Joint Ownership Agreement and Contract Operating Agreement.