Production Sales Agreements Clause Samples
A Production Sales Agreements clause defines the terms under which goods or products produced by one party are sold to another. It typically outlines the quantity, quality standards, delivery schedules, pricing mechanisms, and payment terms for the sale of production output. This clause ensures both parties have a clear understanding of their obligations and expectations, thereby reducing the risk of disputes and facilitating smooth commercial transactions.
Production Sales Agreements. There are no agreements or arrangements for the sale of oil, gas, or other minerals attributable to the Hydrocarbon Properties that may not be terminated at will without penalty by the restructured entity after Closing on notice of sixty (60) days or less.
Production Sales Agreements. Except as set forth on Schedule 2.19(e), there are no agreements or arrangements for the sale of oil, gas or other minerals attributable to the Properties that may be not terminated at will without penalty by the Company after Closing on notice of sixty (60) days or less.
Production Sales Agreements. (i) Except as described in Schedule 5.1(gg), there are no production sale agreements or arrangements under which the Watford Entities, Watford Energy or Amalco, or any third party acting on behalf of the Watford Entities, Watford Energy or Amalco, is obligated to sell or deliver Petroleum Substances allocable to the Petroleum and Natural Gas Rights, other than contracts which are terminable on not more than thirty (30) days notice.
(ii) The Watford Entities, Watford Energy and Amalco have not received, and to the knowledge of the Vendors, none of its agents or any applicable operator of the PNG Assets have received written notice of any actual or alleged act or omission which does, or would with the passage of time, constitute a material default of the Watford Entities, Watford Energy or Amalco taken as a whole as seller under any of the production sales agreements referred to in Section 5.1(gg) in a manner that would have a material adverse effect upon the rights of the Watford Entities, Watford Energy and Amalco taken as a whole thereunder.
Production Sales Agreements. The Company is not a party to any production sales contracts having a term greater than one year that is not cancellable by the Company on notice of 30 days or less. The Company is not in default of any obligation under any such contract.
Production Sales Agreements. (i) Except as described in Schedule 5.1(ff), there are no production sale agreements or arrangements under which ▇▇▇▇▇▇ Energy, or any third party acting on behalf of the ▇▇▇▇▇▇ Energy, is obligated to sell or deliver Petroleum Substances allocable to the Petroleum and Natural Gas Rights, other than contracts which are terminable on not more than thirty (30) days notice.
(ii) ▇▇▇▇▇▇ Energy has not received, and to the knowledge of the Vendor, none of ▇▇▇▇▇▇ Energy's agents or any applicable operator of the PNG Assets has received written notice of any actual or alleged act or omission which does, or would with the passage of time, constitute a material default of the ▇▇▇▇▇▇ Energy as seller under any of the production sales agreements referred to in Section 5.1(ff) in a manner that would have a material adverse effect upon the rights of ▇▇▇▇▇▇ Energy thereunder.