Wellx. Xxcept to the extent set forth on Schedule 4.1(x), to Seller's Knowledge, no well included in the Properties is subject to material penalties on allowables because of any overproduction or any other violation of Applicable Law. Except for the wellx xxxluded in the Properties and listed in Schedule 4.1(x), there are no wellx xxxluded in the Properties that Seller, Reserves LLC or the Partnership, or to Seller's Knowledge the operator of such wellx, xxe currently obligated by Applicable Law, Applicable Environmental Law or order of any Governmental Authority to plug and abandon within a time certain or that have been shut-in or temporarily abandoned.
Wellx. Xx Seller's knowledge, and except as set forth on Schedule 6.2(p), all of the wellx xx which Seller has an interest by virtue of its ownership of the Leasehold Property and which have been drilled and completed by Seller are within the boundaries of such Leasehold Property or within the limits otherwise permitted by contract, pooling or unit agreement, and by law; and, except as set forth on Schedule 6.2(p), to Seller's knowledge, no such well is subject to penalties on allowables because of any over production or any other violation of applicable Legal Requirements that would prevent such well from being entitled to its full legal and regular allowable from and after the Effective Date as prescribed by any governmental authority.
Wellx. Xroducing, non-producing, shut-in and abandoned oil and gas wellx, xxlt water disposal wellx, xxjection wellx xxx water wellx xxxated on the property or property interests
Wellx. Xxery well described on Schedule 2.01(o) is located on the Unit Area and has been drilled and completed within the Unitized Formation or within the limits otherwise permitted by contract, pooling or unit agreement and by law, and the drilling and completion of all wellx xxxluded in the CONTRACT PROPERTIES and all development and operations on the CONTRACT PROPERTIES have been conducted in material compliance with all applicable lease and contract provisions and laws, ordinances, rules, regulations and permits of any court or governmental body or agency. No well on the CONTRACT PROPERTIES is subject to penalties on allowables after the Effective Time hereof because of any overproduction or any other violation of applicable laws, rules, regulations or permits, orders or decrees of any governmental body or agency, which would prevent such well from being entitled to its full, legal and regular allowable, from and after the date hereof, as prescribed by any court or governmental body or agency.
Wellx. Xx the actual knowledge, information and belief of Seller, Schedule 6.5 contains a true, correct and complete list of all oil and gas wellx xx which the Seller and/or the Partnership, as applicable, has an interest which are among the Interests, including the percentage and type of interest therein, provided, however, Seller makes no warranties regarding such interest, other than the special warranty provided for elsewhere herein.
Wellx. Xhe wellx xxxntified on Exhibit "B," including the personal property, fixtures and improvements as of the Effective Date, but with all additions thereto and deletions therefrom occurring in the ordinary course of the conduct of business from the Effective Date through Closing, located upon the Lands or lands pooled therewith or appurtenant thereto, or used in the production, treatment, sale, disposal or injection of hydrocarbons, water or brine produced therefrom or attributable thereto, including, without limitation: (a) all wellx, xxuipment, casing, tubing, pumps, lines, separators, wellhead and in-hole equipment, pipes, tanks, motors, pipelines, meters, regulators, gathering lines, fixtures, buildings, structures and all other oilfield equipment and material, installed and in inventory, used or useful in the operation of the Properties; (b) the equipment, materials and supplies described on Exhibit "D"; and (c) crude oil, condensate and products in storage and in pipelines.
Wellx. Xuring any period operated by the La/Cal XX Xxxties, as applicable, and to the knowledge of such La/Cal XX Xxxty, during other periods (a) all of the Wellx xxxe been drilled and completed within the boundaries of the area described in the Leases or within the limits otherwise permitted by contract, pooling or unitization agreement and by applicable law and (b) all such Wellx xxxe been produced in compliance with allowables allocated thereto by the applicable governmental authority, except as set forth in Schedule 5.19. All of such scheduled violations, taken together, would not and could not reasonably be expected to have a Material Adverse Effect on the Assets. As used herein, the term "Material Adverse Effect" means a material adverse effect on the business prospects, assets, results of operations or condition (financial or otherwise) of the Assets, taken as a whole.
Wellx. Xxch Well
(1) has been timely drilled under IRC 29(f)(1)(A) (drilled after December 31, 1979 but before January 1, 1993), or administrative interpretations thereof, and (2) has been timely drilled under IRC 29(c)(2)(B)(ii) or administrative interpretations thereof, or was committed to interstate commerce (as defined in Section 2(18) of the Natural Gas Policy Act of 1978, as in effect on November 5, 1990) as of April 20, 1977.
Wellx. Pro Rata Share of the Commitment shall be reduced to 0.00% and Wellx Xxxgo shall cease to be a Lender under and with respect to the Loan Agreement and the other Loan Documents (collectively, the "Wellx Xxxgo Conditions").
Wellx. Xx the knowledge of Seller, (a) all of the wellx xx which, prior to the consummation of the Pre-Closing Transactions, any of the Current Owners and, following the consummation of the Pre-Closing Transactions, Company has an interest by virtue of its ownership of the Properties have been drilled and completed within the boundaries of such Property or within the limits otherwise permitted by contract, pooling or unitization agreement, or by Law, (b) all drilling and completion of such wellx xxx all operations with respect thereto have been conducted in compliance with all applicable Laws and (c) all such wellx xxxe been produced in compliance with allowables allocated thereto by the applicable Governmental Entity.
