SUBSEQUENT DRILLING OPERATIONS Sample Clauses

SUBSEQUENT DRILLING OPERATIONS. After full execution of this Agreement and prior to delivery of possession of the Interests to Purchaser under the applicable provisions of this Agreement, Seller shall not, without Purchaser's prior written consent, propose or conduct any operation for the drilling, testing, completing, reworking, re-completing, sidetracking, deepening, plugging back or plugging and abandoning a well with respect to the Interests (a "Drilling Operation") under the terms of any operating agreement or other contract (except repairs or operations made necessary by emergency conditions, after which Seller shall promptly give Purchaser notice: with full details of the work done and the costs thereof). If any present party, other than Seller, to an operating agreement or compulsory pooling order proposes a Drilling Operation prior to such delivery of possession of the Interests involving an expenditure of more than $10,000.00, Seller shall promptly notify Purchaser of such proposal and will promptly provide Purchaser with all information, data or other material in Seller's possession that may be relevant to a decision whether or not to participate in such Drilling Operation. Seller shall accept or reject participation in the proposed Drilling Operation based upon Purchaser's election with respect thereto given in writing by Purchaser to Seller within the period allowed in such proposal. Failure by Purchaser to make an election within such period shall be deemed an election by Purchaser not to participate. Any election by Purchaser hereunder, regardless of whether actually made or deemed to be made, shall not result in any adjustment in the amount allocated to the property affected thereby; however all costs and expenses on account of Purchaser's decision to participate in any such Drilling Operation shall be borne by Purchaser, notwithstanding any termination of this Agreement or anything else herein to the contrary, provided, however, Purchaser is assigned or conveyed all rights and interests necessary to be recognized as the owner, of record, of the working interests affected by its participation in such drilling operation.
Sample 1
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SUBSEQUENT DRILLING OPERATIONS. Standard shall have the right to submit proposals for all future drilling operations with respect to the Leases. Provided that Standard’s proposal includes financial terms no less favorable than those offered by reputable third parties using comparable equipment and crews, and provided that Xxxxxxx is satisfied with the quality and efficiency of Standard’s equipment and crews, in its sole discretion, Xxxxxxx shall retain Standard to conduct such drilling operations.
Sample 1

Related to SUBSEQUENT DRILLING OPERATIONS

  • Post-Closing Operations After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy events as they materialize, as Seller recognizes Company is a publicly traded company and has certain material obligations of disclosure pursuant to state and federal laws, statutes and regulations.

  • Ongoing Operations From the Effective Date through Closing:

  • Project Completion Within five (5) days after the delivery by Supplier to Purchaser of a Commissioning Certificate for the Project’s final Turbine, Supplier shall also deliver to Purchaser a completion certificate for all Turbines in the Project (the “Project Completion Certificate”), in the form attached hereto as Exhibit N, together with a list of any remaining Punch List Work on any Turbine, a schedule for completing the Punch List Work and an estimate of the cost of each item of Punch List Work. Supplier shall thereafter promptly complete all Punch List Work.

  • Business Operations Company and Shareholders shall operate the Business and use the Assets in the ordinary course. Company and Shareholders shall not enter into any lease, contract, indebtedness, commitment, purchase or sale or acquire or dispose of any capital asset relating to the Business or the Assets except in the ordinary course of business. Company and Shareholders shall use their best efforts to preserve the Business and Assets intact and shall not take any action that would have an adverse effect on the Business or Assets. Company and Shareholders shall use their best efforts to preserve intact the relationships with payors, customers, suppliers, patients and others having significant business relations with Company. Company and Shareholders shall collect its receivables and pay its trade payables in the ordinary course of business. Company and Shareholdes shall not introduce any new method of management, operations or accounting.

  • Project The Land and all improvements thereon, including the Building, the Parking Facilities, and all Common Areas.

  • Operations Pending Closing From the date hereof through the Closing Date, Seller agrees as follows:

  • Rent Rolls; Operating Histories The Seller has obtained a rent roll (the “Certified Rent Roll(s)”) other than with respect to hospitality properties certified by the related Mortgagor or the related guarantor(s) as accurate and complete in all material respects as of a date within 180 days of the date of origination of the related Mortgage Loan. The Seller has obtained operating histories (the “Certified Operating Histories”) with respect to each Mortgaged Property certified by the related Mortgagor or the related guarantor(s) as accurate and complete in all material respects as of a date within 180 days of the date of origination of the related Mortgage Loan. The Certified Operating Histories collectively report on operations for a period equal to (a) at least a continuous three-year period or (b) in the event the Mortgaged Property was owned, operated or constructed by the Mortgagor or an affiliate for less than three years then for such shorter period of time, it being understood that for mortgaged properties acquired with the proceeds of a Mortgage Loan, Certified Operating Histories may not have been available.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Disaster Recovery and Business Continuity Company has developed and implemented a contingency planning program to evaluate the effect of significant events that may adversely affect the customers, assets, or employees of Company and Company Bank. To Company’s Knowledge, such program ensures that Company can recover its mission critical functions, and complies in all material respects with the requirements of the FFIEC and the FDIC.

  • Operations Prior to the Closing Date (a) Seller shall use its commercially reasonable efforts to, and to cause the Companies to, operate and carry on the Business in the ordinary course and substantially as operated immediately prior to the date of this Agreement. Consistent with the foregoing, Seller shall use its commercially reasonable efforts, and shall cause the Companies to use their commercially reasonable efforts, consistent with good business practice, to preserve the goodwill of the suppliers, contractors, licensors, employees, customers, distributors and others having business relations with the Business.

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