Third Party Operating Agreements Clause Samples
Third Party Operating Agreements. The Parties acknowledge that some of the oil and gas properties acquired pursuant to this Agreement will have existing operating agreements, or may require a different operating agreement because of the presence of third party interest owners (in each case, a "Third Party Operating Agreement"). In such event, the Parties shall attempt to conform such Third Party Operating Agreement to the Operating Agreement to the greatest extent possible. When a Third Party Operating Agreement is utilized, it shall supersede the provisions of the Operating Agreement only with respect to the properties covered by such Third Party Operating Agreement.
Third Party Operating Agreements. Owner shall negotiate, enter into and administer any Third Party Operating Agreements; provided, however, Owner hereby covenants and agrees that such Third Party Operating Agreements shall not have a negative impact on (a) Manager or the Brand; (b) Manager’s ability to perform its obligations under this Agreement (or any related agreement disclosed to Owner); or, (c) the Managed Facilities. In addition, no Third Party Operating Agreement will permit any other Person to use any of the Managed Facilities without Manager’s prior written consent.