Plugging and Abandonment Obligations. NOTWITHSTANDING ANYTHING CONTAINED TO THE CONTRARY IN ANY OTHER PROVISION OF THIS AGREEMENT, IT IS EXPRESSLY AGREED FOR ALL PURPOSES OF THIS AGREEMENT THAT (I) THE PLUGGING AND ABANDONMENT OBLIGATIONS CONSTITUTE ASSUMED LIABILITIES, (II) THE PLUGGING AND ABANDONMENT OBLIGATIONS SHALL NOT CONSTITUTE ENVIRONMENTAL CONDITIONS, ENVIRONMENTAL LIABILITIES, ENVIRONMENTAL DEFECTS OR ENVIRONMENTAL MATTERS, (III) EXCEPT FOR THE REPRESENTATION SET FORTH IN SECTION 3.15, SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PLUGGING AND ABANDONMENT OBLIGATIONS, AND (IV) SELLER SHALL HAVE NO LIABILITIES OR OBLIGATIONS WITH RESPECT TO PLUGGING AND ABANDONMENT OBLIGATIONS EXCEPT TO THE EXTENT SUCH OBLIGATIONS RELATE TO THE EXCLUDED ASSETS.
Plugging and Abandonment Obligations. With the exception of the Xxxxx identified on Exhibit E, there are no Xxxxx which are required to be plugged and abandoned at the present time under applicable governmental laws, rules and regulations or the terms of any Lease or agreement to which Seller is a party.
Plugging and Abandonment Obligations. Except as set forth in Schedule 5.1(p), there are no Xxxxx located any of the Leases (or lands pooled therewith) in which Atlas America or any member of the Atlas Energy Group has an interest where such entity is currently required by law or contract to plug and abandoned.
Plugging and Abandonment Obligations. Upon and after the Closing, subject to Purchaser’s indemnity rights under Section 10.8, Purchaser assumes full responsibility and liability for the following plugging and abandonment obligations related to the Assets (the “Plugging and Abandonment Obligations”), regardless of whether they are attributable to the ownership or operation of the Assets before or after the Effective Time:
(a) The necessary and proper plugging, replugging and abandonment of all xxxxx on the Assets, whether plugged and abandoned before or after the Effective Time;
(b) The necessary and proper decommissioning, removal, abandonment, and disposal of all structures, pipelines, facilities, equipment, abandoned assets, junk and other personal property located on or comprising any part of the Assets;
(c) The necessary and proper capping and burying of all associated flow lines located on or comprising any part of the Assets, to the extent required by applicable Laws, the Leases, the Contracts, or other agreements;
(d) The necessary and proper restoration and reclamation of the Assets, both surface and subsurface, to the condition they were in before commencement of operations, to the extent required by applicable Laws, the Leases, the Contracts, or any other agreements;
(e) Any necessary clean-up or disposal of any part of the Assets contaminated by Hazardous Materials, NORM, asbestos containing materials, lead based paint or any other substances or materials considered to be hazardous under Laws, including Environmental Laws, and Laws relating to the protection of natural resources;
(f) All obligations arising from contractual requirements and demands made by Governmental Authorities or parties claiming a vested interest in any part of the Assets; and
(g) Obtaining and maintaining all bonds and securities, including supplemental or additional bonds or other securities, that may be required by contract or by Governmental Authorities. Purchaser shall conduct all Plugging and Abandonment Obligations and all other operations with respect to the Assets in a good and workmanlike manner and in compliance with all Laws, including Environmental Laws and Laws (now or hereafter in effect) relating to the protection of natural resources.
Plugging and Abandonment Obligations. Seller has complied, to the extent compliance is required or appropriate as of the Effective Time, with all plugging and abandonment obligations associated with Wxxxx in which it owns an interest, including plugging, abandonment, surface restoration, site clearance and disposal related waste materials, in compliance with all applicable contractual obligations and applicable rules and regulations of governmental entities having jurisdiction.
Plugging and Abandonment Obligations. Except as set forth in Section 3.23 of the Sheridan Disclosure Letter or as would not have a Sheridan Material Adverse Effect, there is no well located upon any property owned by Sheridan or its Subsidiaries that Sheridan or its Subsidiaries is currently obligated by law or contract to plug and abandon.
Plugging and Abandonment Obligations. From and after the Closing Date, Buyer assumes full responsibility and liability for the following obligations related to the Property (the "Plugging and Abandonment Obligations"): (I) plugging, replugging and abandoning all wellx xx the Property (except wellx xxxviously permanently plugged and abandoned by Seller); (ii) removing and disposing of all structures and equipment comprising part of the Property,(iii) the necessary and proper capping and burying of all associated flow lines comprising part of the Property; (iv) restoring the leasehold premises of the Property; both surface and subsurface, to the condition they were in before commencement of oil and gas operations, as may be required by applicable laws, regulation or contract; and (v) any necessary disposal of Property contaminated by naturally occurring radioactive material ("NORM"). Buyer's obligations under this Section 8.2 include without limitation obligations arising from contractual requirements and demands made by authorized regulatory bodies or parties claiming a vested interest in the Property. With respect to any non-operating interests in the Property being transferred to Buyer under this Agreement, Buyer shall assume full responsibility and liability, from and after the Closing Date, for that portion of the Plugging and Abandonment Obligations for which non-operators are responsible.
Plugging and Abandonment Obligations. With the exception of those Xxxxx identified on Schedule 5.18, to Seller’s knowledge, there are no Xxxxx operated or owned by such Seller that (a) relate or are subject to an order from any Governmental Authority requiring that such Well be plugged and abandoned, (b) are not in use for purposes of production or injection, nor suspended or temporarily abandoned, or, that have been plugged and abandoned, but have not been plugged or abandoned in accordance with all applicable requirements of each Governmental Authority having jurisdiction over such Well, (c) are not properly permitted by the Governmental Authority having jurisdiction thereover, or (d) have been produced in excess of allowables allocated thereto by the Governmental Authority having jurisdiction thereover or subject to penalties on allowables after the Effective Time because of overproduction.
Plugging and Abandonment Obligations. To Seller Party’s knowledge, neither Operator nor such Seller Party is currently obligated by a consent order (or by any written instruction of a Governmental Authority) to plug and abandon any of the Xxxxx. With respect to the Xxxxx that have been plugged and abandoned by a Seller Party, all of such Xxxxx have been plugged or reclaimed in accordance with all applicable requirements of each Governmental Authority having jurisdiction over the Assets.
Plugging and Abandonment Obligations. Except as set forth in Schedule 6.01(y), there are no xxxxx located on the Leases or included in the Assets that any Target Entity is currently obligated by law or contract to plug and abandon.
