Common use of Restriction on Operations Clause in Contracts

Restriction on Operations. Unless Seller obtains the prior written consent of Buyer to act otherwise, which consent shall not be unreasonably withheld, delayed, or conditioned, from the Execution Date to the Closing Date, Seller shall not (i) approve, propose or undertake any operation affecting the Property, or any portion thereof, anticipated to cost more than twenty-five thousand dollars ($25,000) per operation, net to Seller’s interest (excepting emergency operations, provided Seller promptly notifies Buyer of such emergency operations); (ii) sell, transfer, assign, convey, reserve or otherwise dispose of any material part of the Property (other than replacement of equipment or sale of Hydrocarbons in the normal course of business); (iii) modify, amend, terminate or release any Lease, Easement or Permit, or Related Contract; (iv) enter, or agree to enter, any contract or agreement affecting the Property; (v) elect to go “non-consent” or otherwise not participate in any operation proposed with respect to the Property, or any portion thereof, or (vi) waive, release, assign, settle or compromise any right, claim, action or proceeding relating to the Property, or any portion thereof.

Restriction on Operations. Unless Seller obtains obtain the prior written consent of Buyer to act otherwise, which consent shall not be unreasonably withheld, delayed, or conditioned, from the Execution Date to the Closing Date, Seller shall not (i) approve, propose or undertake any operation affecting on the Property, or any portion thereof, Assets anticipated to cost more than twenty-twenty five thousand dollars ($25,000) per operation, net to Seller’s interest (excepting those operations set forth on Schedule 6.1(j) or emergency operations, provided Seller promptly notifies Buyer of such emergency operations); (ii) sell, transfer, assign, convey, reserve or otherwise dispose of any material part of the Property Assets (other than replacement of equipment or sale of Hydrocarbons in the normal course of business); (iii) modify, amend, terminate or release any Lease, Easement Surface Agreement or Permit, or Related Material Contract; (iv) enter, or agree to enter, any contract or agreement affecting the PropertyAssets; (v) let lapse any of Seller’s insurance now in force that would constitute a Material Contract; (vi) elect to go “non-consent” or otherwise not participate in any operation proposed with respect to the Property, or any portion thereofAssets, or (vivii) waive, release, assign, settle or compromise any right, claim, action or proceeding relating to the Property, or any portion thereofAssets.

Restriction on Operations. Unless Subject to Section 8.1.a, unless a Seller obtains the prior written consent of Buyer to act otherwise, which consent shall each Seller will use good-faith efforts within the constraints of the applicable operating agreements and other applicable agreements not be unreasonably withheld, delayed, or conditioned, from the Execution Date to the Closing Date, Seller shall not (i) approveabandon any part of the Assets (except in the ordinary course of business or the abandonment of leases upon the expiration of their respective primary terms or if not capable of production in paying quantities), propose or undertake (ii) approve any operation affecting operations on the Property, or Assets anticipated in any portion thereof, anticipated instance to cost the owner of the Assets more than twentyTwenty-five thousand dollars Five Thousand Dollars ($25,00025,000.00) per operation, net to Seller’s interest activity (excepting emergency operations, provided Seller promptly notifies Buyer operations required under presently existing contractual obligations, ongoing commitments under existing AFEs and operations undertaken to avoid a monetary penalty or forfeiture provision of such emergency operationsany applicable agreement or order); , (iiiii) sell, transfer, assign, convey, reserve convey or otherwise dispose of any material part of the Property Assets (other than replacement of equipment or sale of Hydrocarbons oil, gas, and other liquid products produced from the Assets in the normal regular course of business); (iii) modifyor enter into any farmout, amendfarm-in or other similar contract affecting the Assets, terminate or release any Lease, Easement or Permit, or Related Contract; (iv) enter, or agree to enter, let lapse any contract or agreement affecting the Property; (v) elect to go “non-consent” or otherwise not participate insurance now in any operation proposed force with respect to the Property, or any portion thereofAssets, or (viv) waiveenter into, releasemodify or terminate any Material Agreement. Buyer agrees to respond to any written request delivered by the Seller Representative for a consent under this Section 8.1.b as promptly as reasonably practicable, assign, settle or compromise and the relevant Seller agrees to promptly provide any right, claim, action or proceeding relating information Buyer may reasonably request to the Property, or any portion thereoffacilitate such response.

Restriction on Operations. Unless Seller obtains the prior written consent of Buyer to act otherwise, which consent shall not be unreasonably withheld, delayed, or conditioned, from the Execution Date to the Closing Date, Seller shall not (i) approve, propose or undertake any operation affecting on the Property, or any portion thereof, Assets anticipated to cost more than twenty-five fifty thousand dollars ($25,00050,000) per operation, net to Seller’s interest (excepting those operations set forth on Schedule 6.1(h) or emergency operations, provided Seller promptly notifies Buyer of such emergency operations); (ii) sell, transfer, assign, convey, reserve or otherwise dispose of any material part of the Property Assets (other than replacement of equipment or sale of Hydrocarbons in the normal course of business); (iii) modify, amend, terminate or release any Lease, Easement Surface Agreement or Permit, or Related Material Contract; (iv) enter, or agree to enter, any contract or agreement affecting the PropertyAssets; (v) let lapse any of Seller’s insurance now in force that would constitute a Material Contract; (vi) elect to go “non-consent” or otherwise not participate in any operation proposed with respect to the Property, or any portion thereofAssets, or (vivii) waive, release, assign, settle or compromise any right, claim, action or proceeding relating to the Property, or any portion thereofAssets.