Release, Abandonment, and Sale or Exchange of Properties. Except as provided elsewhere in Section 5 and in Section 6.3, the Managing General Partner shall have full power to dispose of the production and other assets of the Partnership, including the power to determine which Leases shall be released or permitted to terminate, those xxxxx to be abandoned, whether any Lease or well shall be sold or exchanged, and the terms therefor.
Appears in 10 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Release, Abandonment, and Sale or Exchange of Properties. Except as provided elsewhere in Section 5 and in Section 6.3, the Managing General Partner shall have full power to dispose of the production and other assets of the Partnership, including the power to determine which Leases shall be released or permitted to terminate, those xxxxx wxxxx to be abandoned, whether any Lease or well shall be sold or exchanged, and the terms therefor.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Release, Abandonment, and Sale or Exchange of Properties. Except as provided elsewhere in this Section 5 and in Section 6.3, the Managing General Partner shall have full power to dispose of the production and other assets of the Partnership, including the power to determine which Leases leases shall be released or permitted to terminate, those xxxxx to be abandoned, whether any Lease lease, well or well production interest, or rights therein shall be sold or exchanged, and the terms therefor.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Reef Oil & Gas Drilling & Income Fund, L.P.)
