PLUGGING AND ABANDONMENT OF WELLS Sample Clauses

PLUGGING AND ABANDONMENT OF WELLS. Any well whicx xxx been completed as a producer shall not be plugged and abandoned without the consent of the majority of ownership of parties having an interest. If such majority parties consent to such abandonment, the well shall be plugged and abandoned in accordance with applicable regulations and at the cost, risk and expense of the Interest owners. If, within thirty (30) days after receipt of notice of the proposed abandonment of such well, parties do not agree to the abandonment of such well, the party wishing to continue its operation shall tender to the other parties its proportionate share of the value of the well's salvable material and equipment, determined in accordance with the provisions of Exhibit "B", less the estimated cost of salvaging and the estimated cost of plugging and abandoning. The abandoning party shall assign to the non-abandoning party, without warranty, express or implied, as to title or as to quantity, quality, or fitness for use of the equipment and material, all of its interest in the well and related equipment, together with its interest in the drilling unit as to, but only as to, the intervals of the formation or formations then open to production. The payment by, and the assignment to, the assignee shall be based upon the respective percentages of participation in the Interests for that well. There shall be no readjustment of interests in the remaining wells or portion of the Xxterests. Should the Interest owners determine to abandon a well or wells and Operator wishes to xxxxxnue production or re-work such well or wells then the Interest ownerx xxxll assign their interests in such wells to the Operator as above, xxxatis mutandis. Thereafter, the abandoning party shall have no further responsibility, liability, or interest in the operation of or production from the well in the interval or intervals then open other than any royalties retained in any lease made under the terms of this Article. Upon request, Operator shall continue to operate the assigned well for the account of the Non-Operator at the rates and charges contemplated by this agreement, plus any additional costs and charges which may arise as the result of the separate ownership of the assigned well.
Sample 1
AutoNDA by SimpleDocs
PLUGGING AND ABANDONMENT OF WELLS. Removal of Facilitiex. -------------------------------------------------------- Buyer recognizes and specifically assumes Seller's obligations with respect to the Interests to:
Sample 1

Related to PLUGGING AND ABANDONMENT OF WELLS

  • Termination and Abandonment This Agreement may be terminated at any time prior to the Closing:

  • Tenant’s Entry Into the Premises Prior to Substantial Completion Subject to the terms hereof and provided that Tenant and its agents do not interfere with, or delay, Contractor’s work in the Building and the Premises, at Landlord’s reasonable discretion, Contractor shall allow Tenant access to the Premises prior to the Substantial Completion of the Premises for the purpose of Tenant installing any necessary furniture, equipment or fixtures (including Tenant’s data and telephone equipment) in the Premises. Prior to Tenant’s entry into the Premises as permitted by the terms of this Section 6.01, Tenant shall submit a schedule to Landlord and Contractor, for their approval, which schedule shall detail the timing and purpose of Tenant’s entry, and Landlord will reasonably cooperate with Tenant to coordinate Landlord’s Contractor’s work of constructing the Tenant Improvements with such access by Tenant for the installation of Tenant’s furniture, equipment and fixtures. In connection with any such entry, Tenant acknowledges and agrees that Tenant’s employees, agents, contractors, consultants, workmen, mechanics, suppliers and invitees shall fully cooperate, work in harmony and not, in any manner, interfere with Landlord or Landlord’s Contractor, agents or representatives in performing work in the Building and the Premises, or interfere with the general operation of the Building and/or the Project; and such entry shall be subject to the site management rules of Landlord and Landlord’s Contractor. If at any time any such person representing Tenant shall not be cooperative or shall otherwise cause or threaten to cause any such disharmony or interference, including, without limitation, labor disharmony, and Tenant fails to immediately institute and maintain corrective actions as directed by Landlord, then Landlord may revoke Tenant’s entry rights upon twenty-four (24) hours’ prior written notice to Tenant. Tenant acknowledges and agrees that any such entry into and occupancy of the Premises or any portion thereof by Tenant or any person or entity working for or on behalf of Tenant shall be deemed to be subject to all of the terms, covenants, conditions and provisions of the Lease, excluding only the covenant to pay Rent (until the occurrence of the Lease Commencement Date). Tenant further acknowledges and agrees that Landlord shall not be liable for any injury, loss or damage which may occur to any of Tenant’s work made in or about the Premises in connection with such entry or to any property placed therein prior to the Lease Commencement Date, the same being at Tenant’s sole risk and liability. Tenant shall be liable to Landlord for any damage to any portion of the Premises, including the Tenant Improvement work, caused by Tenant or any of Tenant’s employees, agents, contractors, consultants, workmen, mechanics, suppliers and invitees. If the performance of Tenant’s work in connection with such entry causes extra costs to be incurred by Landlord or requires the use of any Building services, Tenant shall promptly reimburse Landlord for such extra costs and/or shall pay Landlord for such Building services at Landlord’s standard rates then in effect. In addition, Tenant shall hold Landlord harmless from and indemnify, protect and defend Landlord against any loss or damage to the Building or Premises and against injury to any persons caused by Tenant’s actions pursuant to this Section 6.01.

  • ABANDONMENT OF PREMISES Tenant agrees not to abandon or vacate the Premises during the Term of this Lease. If Tenant does abandon or vacate the Premises for more than ninety (90) days, Landlord may terminate this Lease, by written notice to Tenant at any time prior to Tenant reoccupying the Premises, but such termination shall not entitle Landlord to pursue any other remedies unless an uncured Event of Default then exists, in which case Landlord may pursue any and all remedies provided by this Lease, at law or in equity.

  • Environmental, Health and Safety Matters (a) The Company has complied and is in compliance with all Environmental, Health, and Safety Requirements.

  • Environmental and Safety Matters Except as disclosed in Schedule 4.13:

  • Reports of Foreclosures and Abandonment of Mortgaged Property The Master Servicer or the Subservicers shall file information returns with respect to the receipt of mortgage interests received in a trade or business, the reports of foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the Trustee an Officers' Certificate on or before March 31 of each year stating that such reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050H, 6050J and 6050P of the Code.

  • Location and Facilities The Executive will be furnished with the working facilities and staff customary for executive officers with the title and duties set forth in Section 1 and as are necessary for him to perform his duties. The location of such facilities and staff shall be at the principal administrative offices of the Company and the Bank, or at such other site or sites customary for such offices.

  • Reports of Foreclosure and Abandonment of Mortgaged Properties The Master Servicer shall file information returns with respect to the receipt of mortgage interest received in a trade or business, reports of foreclosures and abandonments of any Mortgaged Property and cancellation of indebtedness income with respect to any Mortgaged Property as required by Sections 6050H, 6050J and 6050P of the Code, respectively. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by such Sections 6050H, 6050J and 6050P of the Code.

  • Title to Properties; Absence of Liens Borrower has good and clear record and marketable title to all of its properties and assets, and all of its properties and assets are free and clear of all mortgages, liens, pledges, charges, encumbrances and setoffs, except those mortgages, deeds of trust, leases of personal property and security interests previously specifically consented to in writing by the Bank.

  • Maintenance and Repairs by Tenant Tenant, at its expense, shall --------------------------------- maintain and repair the interior of the Leased Premises, and all heating, air conditioning, ventilating, electrical, mechanical, sprinkler and plumbing systems, equipment, machinery or fixtures exclusively servicing the Leased Premises, together with all pipes, conduits, ducts and drains therefor. Furthermore Tenant, at its expense, shall replace any broken glass in the interior or exterior of the Leased Premises, and shall maintain and repair all entryway doors to the Leased Premises. Landlord shall assign to Tenant all assignable manufacturers' warranties with respect to equipment and fixtures installed in the Leased Premises. Tenant further agrees to keep the Leased Premises in good, tenantable, sanitary, sightly and clean condition and to keep all lobbies and entryways which are part of the Leased Premises clean and free from debris, refuse, obstructions or hazardous conditions. Tenant agrees to notify Landlord in the event an excessive amount of snow accumulates on the roof of the Leased Premises. Tenant shall be responsible for all maintenance or repairs wholly or partially (to the extent of Tenant's part) caused by the negligence or fault of Tenant or any of its agents, visitors or licensees, or by Tenant's breach of any provision of this Agreement. If Tenant does not make the repairs or perform the maintenance required hereunder in a prompt and adequate manner, then after notice to Tenant and opportunity cure as provided herein, Landlord may make such repairs or perform such maintenance and pay the costs thereof, and such costs shall be so much Additional Rent which shall become immediately due and payable by Tenant to Landlord.

Time is Money Join Law Insider Premium to draft better contracts faster.