Common use of Restricted Businesses Clause in Contracts

Restricted Businesses. Atlas America agrees that if an Atlas America Entity is presented with a Business Opportunity, Atlas America shall give, and shall cause any other Atlas America Entity to give, prompt written notice to Atlas Energy of the Business Opportunity. Such notice shall set forth all information available to the Atlas America Entity about the Business Opportunity, including the identity of the Business Opportunity and its seller, venture partner or other material party and the proposed price, and shall include all written information about the Business Opportunity provided to the Atlas America Entity by and on behalf of the seller, venture partner or other material party, as well as any information or analyses compiled by the Atlas America Entity from other sources (such information collectively, the “Business Opportunity Information”). The Atlas America Entities shall continue to provide promptly to Atlas Energy any and all Business Opportunity Information subsequently received. Within a time period specified by the Atlas America Entity’s notice to Atlas Energy, which shall be a reasonable time under the circumstances, Atlas Energy shall advise the Atlas America Entity in writing whether it wishes to acquire or invest in the Business Opportunity. If Atlas Energy advises the Atlas America Entity of its intent to acquire or invest in the Business Opportunity, the Atlas America Entities shall refrain from making an offer for the Business Opportunity except as permitted hereunder. If Atlas Energy (i) advises the Atlas America Entity that (with the approval of Atlas Energy Conflicts Committee) it does not intend to acquire or invest in the Business Opportunity, (ii) advises the Atlas America Entity of its intent to acquire or invest in the Business Opportunity but does not complete the acquisition or investment within a reasonable time after Atlas Energy’s notice of its intent to the Atlas America Entity or (iii) fails to timely advise the Atlas America Entity of its intent, any of the Atlas America Entities shall be free to acquire or invest in the Business Opportunity.