Common use of Transfer of Subject Interests Clause in Contracts

Transfer of Subject Interests. Assignor will not Transfer any Development Well or any of the Subject Interests pursuant to Sections 11.01 and 11.02 prior to the Drilling Obligation Completion Date, and in the event of any attempted Transfer in violation of this Section 11.05, Assignor shall remain liable and a party hereto, just as if no Transfer attempt had been made, and Assignee shall continue to deal with Assignor to the exclusion of the purported transferee. For the avoidance of doubt, nothing in this Section 11.05 shall restrict Assignor’s ability to Transfer Subject Interests pursuant to the terms of the Development Agreement or Section 11.03. Further, to the extent permitted by applicable law, such attempted Transfer in violation of this Section 11.05 shall be void and of no force or effect. Assignor expressly states and recognizes that the restrictions on transfer imposed on Assignor in this Section 11.05 and in Section 11.01(a) are made in reasonable protection of an interest of the Assignee created hereunder.

Transfer of Subject Interests. Assignor will not Transfer any Development Well or any of the Subject Interests pursuant to Sections 11.01 and 11.02 prior to the Drilling Obligation Completion Date, and in the event of any attempted Transfer in violation of this Section 11.0511.04, Assignor shall remain liable and a party hereto, just as if no Transfer attempt had been made, and Assignee shall continue to deal with Assignor to the exclusion of the purported transferee. For the avoidance of doubt, nothing in this Section 11.05 11.04 shall restrict Assignor’s ability to Transfer Subject Interests pursuant to the terms of the Development Agreement or Section 11.03Agreement. Further, to the extent permitted by applicable law, such attempted Transfer in violation of this Section 11.05 11.04 shall be void and of no force or effect. Assignor expressly states and recognizes that the restrictions on transfer imposed on Assignor in this Section 11.05 11.04 and in Section 11.01(a) are made in reasonable protection of an interest of the Assignee created hereunder.

Transfer of Subject Interests. Assignor will not Transfer any Development Well or any of the Subject Interests pursuant to Sections 11.01 and 11.02 prior to the Drilling Obligation Completion Date, and in the event of any attempted Transfer in violation of this Section 11.0511.04, Assignor shall remain liable and a party hereto, just as if no Transfer attempt had been made, and Assignee shall continue to deal with Assignor to the exclusion of the purported transferee. For the avoidance of doubt, nothing in this Section 11.05 11.04 shall restrict Assignor’s ability to Transfer Subject Interests pursuant to the terms of the Development Agreement or Section 11.03. Further, to the extent permitted by applicable law, such attempted Transfer in violation of this Section 11.05 11.04 shall be void and of no force or effect. Assignor expressly states and recognizes that the restrictions on transfer imposed on Assignor in this Section 11.05 11.04 and in Section 11.01(a) are made in reasonable protection of an interest of the Assignee created hereunder.

Transfer of Subject Interests. Assignor will not Transfer any Development Well or any of the Subject Interests pursuant to Sections 11.01 and 11.02 prior to the Drilling Obligation Completion Date, and in the event of any attempted Transfer in violation of this Section 11.0511.03, Assignor shall remain liable and a party hereto, just as if no Transfer attempt had been made, and Assignee shall continue to deal with Assignor to the exclusion of the purported transferee. For the avoidance of doubt, nothing in this Section 11.05 11.03 shall restrict Assignor’s ability to Transfer Subject Interests pursuant to the terms of the Development Agreement or Section 11.03Agreement. Further, to the extent permitted by applicable law, such attempted Transfer in violation of this Section 11.05 11.03 shall be void and of no force or effect. Assignor expressly states and recognizes that the restrictions on transfer imposed on Assignor in this Section 11.05 11.03 and in Section 11.01(a) are made in reasonable protection of an interest of the Assignee created hereunder.