Common use of Restriction on Operations Clause in Contracts

Restriction on Operations. Except in the case of an emergency, Sellers will promptly inform Buyer of all requests for commitments to expend funds in excess of $25,000 with respect to the Assets. Without the prior written consent of Buyer, Sellers shall not: 1. enter into any new agreements or commitments with respect to the Assets which extend beyond the Closing, 2. commit to or incur any expenditures in excess of $25,000 (net to Sellers’ interest) with respect to any part of the Assets, 3. make any nonconsent elections with respect to operations affecting the Assets, 4. abandon any Well or release or permit to terminate, or modify or reduce its rights under all or any portion of any of the Leases, 5. modify or terminate any of the Agreements or waive or relinquish any right thereunder, 6. agree to any renegotiated price, take or other terms under existing gas purchase agreements, 7. agree to any credit or prepayment arrangement that would reduce the share of gas deliverable with respect to the Assets following the Effective Time, 8. enter into any agreement or instrument for the sale, treatment, or transportation of production from the Assets (except for sales agreements terminable on no more than 30 days’ notice), 9. create any material gas imbalance affecting the Assets, 10. encumber, sell or otherwise dispose of any of the Assets, other than personal property that is replaced by equivalent property or consumed in the normal operation of the Assets, and 11. except where necessary in the event of an emergency regarding Sellers’ interest in the Assets propose (a) the drilling of any additional wxxxx, (b) the deepening, plugging back or reworking of any Well, (c) the conducting of any other operations which require consent under the applicable operating agreement, or (d) the conducting of any other operations other than the normal operation of the existing wxxxx on the Assets.

Restriction on Operations. Except in the case of an emergency, Sellers BBC will promptly inform Buyer SCE of all requests for commitments to expend funds in excess of $25,000 with respect to the Assets. Without the prior written consent of BuyerSCE, Sellers BBC shall not: 1. enter into any new agreements or commitments with respect to the Assets which extend beyond the Closing,; 2. commit to or incur any expenditures in excess of $25,000 (net to Sellers’ BBC’s interest) with respect to any part of the Assets,; 3. make any nonconsent elections with respect to operations affecting the Assets,; 4. abandon any Well or release (or permit to terminate), or modify or reduce its rights under all or any portion of any of the Leases,; 5. modify or terminate any of the Material Agreements or waive or relinquish any right thereunder,; 6. agree to any renegotiated price, take or other terms under existing gas purchase agreements,; 7. agree to any credit or prepayment arrangement that would reduce the share of gas deliverable with respect to the Assets following the Effective Time,; 8. enter into any agreement or instrument for the sale, treatment, or transportation of production from the Assets (except for sales agreements terminable on no more than 30 days’ notice),; 9. create any material gas imbalance affecting the Assets,; 10. encumber, sell or otherwise dispose of any of the Assets, other than personal property that is replaced by equivalent property or consumed in the normal operation of the Assets, ; and 11. except where necessary in the event of an emergency regarding Sellers’ BBC’s interest in the Assets Assets, propose (ai) the drilling of any additional wxxxxxxxxx, (bii) the deepening, plugging back or reworking of any Well, (ciii) the conducting of any other operations which require consent under the applicable operating agreement, or (div) the conducting of any other operations other than the normal operation of the existing wxxxx xxxxx on the Assets.

Restriction on Operations. Except in the case of an emergency, Sellers Seller will promptly inform Buyer of all requests for commitments to expend funds in excess of $25,000 12,500 with respect to the Assets. Without the prior written consent of Buyer, Sellers Seller shall not: 1. enter Enter into any new agreements or commitments with respect to the Assets which extend beyond the Closing,Assets; 2. commit Commit to or incur any expenditures in excess of $25,000 12,500 (net to Sellers’ Seller’s interest) with respect to any part of the Assets,; 3. make Make any nonconsent elections with respect to operations affecting the Assets,; 4. abandon Abandon any Well or release (or permit to terminate), or modify or reduce its rights under all or any portion of any of the Leases,; 5. modify Modify or terminate any of agreement, including the Agreements Material Agreements, or waive or relinquish any right thereunder,; 6. agree Agree to any renegotiated price, take or other terms under existing gas purchase agreements,; 7. agree Agree to any credit or prepayment arrangement that would reduce the share of gas deliverable with respect to the Assets following the Effective Time,; 8. enter Enter into any agreement or instrument for the sale, treatment, or transportation of production from the Assets (except for sales agreements terminable on no more than 30 days’ notice),Assets; 9. create Create any material gas imbalance affecting the Assets,; 10. encumberEncumber, sell or otherwise dispose of any of the Assets, other than personal property that is replaced by equivalent property or consumed in the normal operation of the Assets, ; and 11. except where necessary in the event of an emergency regarding Sellers’ interest in the Assets propose Propose (ai) the drilling of any additional wxxxxxxxxx, (bii) the deepening, plugging back or reworking of any Well, (ciii) the conducting of any other operations which require consent under the applicable operating agreement, or (div) the conducting of any other operations other than the normal operation of the existing wxxxx xxxxx on the Assets.