Transfer of Operatorship. Insofar as Vendor operates any of the Assets, Purchaser acknowledges that Vendor is not able to transfer operatorship of some or all of such Assets to Purchaser at or after Closing. Should a Third Party take over operatorship of some or all of the Assets whether after receiving change of operatorship notices from Vendor of the sale of its interest, or otherwise, Purchaser acknowledges that such Licences (including without limitation the Excluded Licences) will be transferred to the successor operator at or following Closing and that Purchaser shall not contest any such succession of operatorship or transfer of Licences except as otherwise provided in the applicable operating agreements after Closing and such succession and transfer.
Transfer of Operatorship. Purchaser acknowledges that Vendor may not be able to transfer operatorship of some or all of the Assets to Purchaser at or after Closing. Vendor covenants with Purchaser that Vendor shall reasonably cooperate with Purchaser to obtain appropriate consents and approvals for the assignment and transfer to Purchaser of operatorship of those of the Assets of which Vendor is currently the Operator.
Transfer of Operatorship. Farmor agrees to seek approval to transfer to Farmee the rights and obligations of Operator under the Contract, such that Farmee or its Nominee will be named Operator under Article 8 of the Contract. The Parties shall coordinate with each other to effect a timely and efficient transfer of operatorship to Farmee’s Nominee upon receipt of the approval, including the transfer of such Documents, contracts and agreements as are then in effect that are reasonable and necessary for operations in the Contract Area. Farmor shall assign and Farmee, on behalf of itself and its Nominee, agrees to accept such assignment and perform under such Documents, contracts and agreements.
Transfer of Operatorship. It is expressly understood and agreed that Seller shall not be obligated to continue operating any of the Property following the Closing and Buyer hereby assumes full responsibility for operating (or causing the operation of) all Property that was operated by Seller or its Affiliates following the Closing. Seller makes no representation and/or warranty to Buyer as to the transferability or assignability of operatorship of such xxxxx, but Seller agrees to reasonably cooperate with Buyer and use its commercially reasonable efforts to attempt to cause operatorship of the Property (and any portion thereof) to be transferred to Buyer or Buyer’s designee (it being understood that such shall not require the payment of money by Seller). Buyer acknowledges that the rights and obligations associated with such xxxxx are governed by applicable agreements and that operatorship will be determined by the terms of those agreements. Buyer acknowledges that the procedures for contractual succession of operators are governed by applicable operating agreements and assumes all responsibility for the conduct of requisite balloting and any other procedures necessary to elect a successor operator pursuant to applicable operating agreements at the earliest practicable date(s).
Transfer of Operatorship. Seller will use commercially reasonable efforts including the prompt execution of all necessary or required documentation from the North Dakota regulatory authorities, and take all necessary actions in connection therewith or reasonably requested by Xxxxx, to cause Buyer to succeed Seller as operator of the Leases and Xxxxx.
Transfer of Operatorship. Following the sale, assignment and transfer of the BHP Billiton Canada Core Zone Assets to BCDC and prior to the Time of Closing, BHP Billiton Canada and BCDC shall take all necessary steps to transfer the operatorship of the Core Zone Joint Venture from BHP Billiton Canada to BCDC. In connection with the resignation of BHP Billiton Canada and appointment of BCDC as the operator of the Core Zone Joint Venture, and prior to the Time of Closing, BHP Billiton Canada shall transfer and assign to BCDC and BCDC shall assume legal title to all of the property and assets of BHP Billiton Canada used or held for use by BHP Billiton Canada in its capacity as operator of the Core Zone Joint Venture in connection with or otherwise relating to the Core Zone Joint Venture and/or the Core Zone Property (other than the Excluded Assets), whether real or personal, tangible or intangible, of every kind and description and wheresoever situate (collectively, the "Operatorship Assets"), including:
(a) all Contracts to which BHP Billiton Canada is a party, in its capacity as operator of the Core Zone Joint Venture, that relate primarily to the Core Zone Joint Venture and/or the Core Zone Property and/or the BBDNV Business other than the Finning Agreement;
(b) the EKATI Permits;
(c) the Core Zone Leases;
(d) all Financial Sureties delivered by BHP Billiton Canada;
(e) all real property of which BHP Billiton Canada, in its capacity as operator of the Core Zone Joint Venture, is the registered or beneficial fee simple owner and that is used in connection with the Core Zone Joint Venture and/or the Core Zone Property;
(f) all rights as lessee of real property in which BHP Billiton Canada, in its capacity as operator of the Core Zone Joint Venture, has a leasehold interest and that is used in connection with the Core Zone Joint Venture and/or the Core Zone Property, together with all leasehold improvements relating thereto;
(g) all machinery, equipment, parts, furnishings, furniture and accessories owned by BHP Billiton Canada, in its capacity as operator of the Core Zone Joint Venture, relating to the Core Zone Joint Venture and/or the Core Zone Property;
(h) all accounts receivable, trade accounts, notes receivable, book debts and other debts due or accruing due to BHP Billiton Canada, in its capacity as operator of the Core Zone Joint Venture, in connection with the Core Zone Joint Venture and/or the Core Zone Property, and the benefit of all security for such accounts receivable, ...
Transfer of Operatorship. As of the Effective Date, and subject to any Operator Transfer Restrictions, Buyer shall succeed Seller as operator for any Operated Assets. Buyer agrees to use commercially reasonable efforts, and Seller agrees to use commercially reasonable efforts to assist Buyer, both before and after Closing, as applicable, to address any Operator Transfer Restrictions and to effect the transfer of operatorship from Seller to Buyer, including (i) obtaining the necessary consents or approvals or other actions required to address Operator Transfer Restrictions, and any related communications to non-operators advising them of the transfer of operatorship, (ii) the preparation and filing post-Closing of the necessary forms or other instruments documenting such transfer as required by applicable Laws with the MBOGC or BLM, or any other Governmental Authority as required, (iii) the preparation and filing of the necessary forms or other instruments for the transfer of any operator-related Permits, or issuance of new operator-related Permits to Buyer, as required by applicable Laws, with DEQ or any other Governmental Authority, (iv) obtaining any necessary consents and preparing and executing necessary assignments or partial assignments or other instruments for the assignment of applicable operator-related Contracts, or entering into new operator-related Contracts with applicable Third Parties, (v) the post-Closing posting by Buyer of the necessary bond(s) required by MBOGC or BLM or such other appropriate Governmental Authority as security for any and all Plugging and Abandonment Obligations and any other operatorship obligations for said Operated Assets promptly after Buyer obtains knowledge of such required additional bond(s), and (vi) the release or partial release of Seller’s bonds applicable to the Oil Producing Properties as soon as practical following Closing; provided that Seller shall not be required to expend any funds (other than the cost of Seller’s internal resources and personnel) in satisfaction of its obligations under this Section 9.1 and any Governmental Authority or Third Party costs associated with this Section 9.1 shall be the responsibility of Buyer.
Transfer of Operatorship. Upon resignation of Operator and appointment of Purchaser as successor operator under the Operating Agreements:
(a) Purchaser shall use commercially reasonable efforts to assist the Operator in obtaining from the Railroad Commission of Texas the release any bonds or other sureties pertaining to the Properties which were required to be posted by Operator; and
(b) Operator shall deliver to Purchaser, at Purchaser’s cost and expense, copies of all Records in Operator’s possession.
(c) Purchaser and Operator will execute such documents as are necessary to effectuate the provisions of Sections 2.2 and 2.4.
Transfer of Operatorship. Where Vendor is operator of any of the Assets, the Parties shall cooperate to have Xxxxxxxx appointed as successor operator pursuant to the Title and Operating Documents; provided, however, that nothing contained in this Agreement shall be interpreted as assigning Vendor's rights as operator of any of the Assets under any Title and Operating Documents or an assurance that Xxxxxxxx will be accepted as operator of any of the Assets at, or after, Closing.
Transfer of Operatorship. Seller covenants with Purchaser that Seller shall reasonably cooperate with Purchaser in order to obtain the appropriate consents and approvals for the assignment and transfer to Purchaser of operatorship of those of the Assets of which Seller is currently the Operator.
