Common use of Successor Operator Clause in Contracts

Successor Operator. The Sellers shall use their commercially reasonable efforts, subject to the existing provisions in the Joint Venture documents, to support Purchaser’s efforts to be appointed or cause Purchaser’s designee to be appointed the successor operator of each Well operated by a Seller, to the extent permitted under any applicable joint operating agreement, and as operator under the Pipeline Operating Agreement of the Joint Venture, and to designate and/or appoint by assignment, to the extent legally possible and permitted under any such applicable joint operating agreement, Purchaser or Purchaser’s designee as successor operator with respect to the Purchased Assets on or after the Closing Date.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (GMX Resources Inc)

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Successor Operator. The Sellers Seller agrees that as to the Assets any Seller or its Affiliate operates, Seller shall use their commercially reasonable efforts, subject to the existing provisions in the Joint Venture documents, efforts (a) to support Purchaser’s efforts to be appointed for Purchaser or cause Purchaser’s its designee to be appointed the become successor operator of each Well operated by a Seller, such Assets (to the extent permitted under any applicable joint operating agreement, and ) effective as operator under the Pipeline Operating Agreement of the Joint VentureClosing, or as of the end of the period contemplated by the Transition Services Agreement, (at Purchaser’s sole cost and expense) and (b) to designate and/or appoint by assignmentor appoint, to the extent legally possible and permitted under any such applicable joint operating agreement, Purchaser (or Purchaser’s designee its designee) as successor operator with respect to the Purchased of such Assets on or after the Closing Dateeffective as of Closing.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Earthstone Energy Inc), Purchase and Sale Agreement (Earthstone Energy Inc)

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Successor Operator. The Sellers shall use their commercially reasonable efforts, subject to the existing provisions in the Joint Venture documents, efforts to support the Purchaser’s efforts to be appointed or cause the Purchaser’s designee to be appointed the successor operator of each Well operated by a Seller, to the extent permitted under any applicable joint operating agreement, and as operator under the Pipeline Operating Agreement of the Joint Venture, agreement and to designate and/or appoint by assignment, to the extent legally possible and permitted under any such applicable joint operating agreement, the Purchaser or the Purchaser’s designee as successor operator with respect to the Purchased Assets on or after the Closing Date.

Appears in 1 contract

Samples: Asset Purchase Agreement (AMERICAN EAGLE ENERGY Corp)

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