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EXHIBIT 99.7
MASTER
CONVEYANCE
NEG HOLDING LLC, a Delaware limited liability company (herein called
"Grantor"), whose address is c/o Icahn Associates Corp., 000 Xxxxx Xxxxxx, 00xx
Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, for Ten Dollars and other good and valuable
considerations (the receipt and sufficiency of which is hereby acknowledged),
does hereby GRANT, BARGAIN, SELL, CONVEY, ASSIGN, TRANSFER, SET OVER, and
DELIVER unto NEG OPERATING LLC, a Delaware limited liability company, whose
address is c/o Icahn Associates Corp., 000 Xxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx,
Xxx Xxxx 00000 (herein called "Grantee") the following described properties,
rights and interests (the "Assets"):
(a) All of Xxxxxxx's right, title and interest in and to that certain
Master Conveyance of even date herewith by and between National Energy
Group, Inc. and NEG Holding LLC, attached hereto as Exhibit A.
(b) All of Grantor's right, title and interest in and to that certain
Master Conveyance of even date herewith by and between Xxxxx Petroleum
Company and NEG Holding LLC, attached hereto as Exhibit B.
TO HAVE AND TO HOLD the Assets unto Grantee, its successors and
assigns, forever.
THIS CONVEYANCE IS MADE WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY
KIND, ALL REPRESENTATIONS AND WARRANTIES BEING EXPRESSLY DISCLAIMED, EXCEPT THAT
GRANTOR WARRANTS AND AGREES TO DEFEND TITLE TO THE ASSETS AGAINST THE LAWFUL
CLAIMS AND DEMANDS OF ALL PERSONS CLAIMING THE SAME OR ANY PART THEREOF BY,
THROUGH, OR UNDER GRANTOR, BUT NOT OTHERWISE, AND SPECIFICALLY IN THIS
CONNECTION, BUT WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL EQUIPMENT,
OTHER PERSONAL PROPERTY, AND FIXTURES SOLD AND CONVEYED TO GRANTEE ARE SOLD AND
CONVEYED ON AN "AS IS" AND "WHERE IS" BASIS, AND GRANTOR EXPRESSLY DISCLAIMS ANY
AND ALL SUCH OTHER REPRESENTATIONS AND WARRANTIES. WITHOUT LIMITATION OF THE
FOREGOING, THE ASSETS SHALL BE CONVEYED PURSUANT HERETO WITHOUT ANY WARRANTY OR
REPRESENTATION, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, RELATING TO
THE CONDITION, QUANTITY, QUALITY, FITNESS FOR A PARTICULAR PURPOSE, CONFORMITY
TO THE MODELS OR SAMPLES OF MATERIALS OR MERCHANTABILITY OF ANY EQUIPMENT OR ITS
FITNESS FOR ANY PURPOSE WITHOUT ANY OTHER EXPRESS, IMPLIED, STATUTORY OR OTHER
WARRANTY OR REPRESENTATION WHATSOEVER. GRANTEE SHALL HAVE INSPECTED, OR WAIVED
(AND UPON CLOSING SHALL BE DEEMED TO HAVE WAIVED) ITS RIGHT TO INSPECT, THE
ASSETS FOR ALL PURPOSES AND SATISFIED ITSELF AS TO THEIR PHYSICAL AND
ENVIRONMENTAL CONDITION, BOTH SURFACE AND SUBSURFACE, INCLUDING BUT NOT LIMITED
TO CONDITIONS SPECIFICALLY RELATED TO THE PRESENCE, RELEASE OR DISPOSAL OF
HAZARDOUS SUBSTANCES, SOLID WASTES, ASBESTOS OR OTHER MANMADE FIBERS OR
NATURALLY OCCURRING RADIOACTIVE MATERIALS ("NORM") IN, ON OR UNDER THE ASSETS.
GRANTEE IS RELYING SOLELY UPON ITS OWN INSPECTION OF THE ASSETS, AND GRANTEE
SHALL ACCEPT ALL OF THE SAME IN THEIR "AS IS, WHERE IS" CONDITION. ALSO WITHOUT
LIMITATION OF THE FOREGOING, GRANTOR MAKES NO WARRANTY OR REPRESENTATION,
EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, AS TO THE ACCURACY OR COMPLETENESS OF
ANY DATA, REPORTS, RECORDS, PROJECTIONS, INFORMATION OR MATERIALS NOW,
HERETOFORE OR
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HEREAFTER FURNISHED OR MADE AVAILABLE TO GRANTEE IN CONNECTION WITH THIS
CONVEYANCE INCLUDING, WITHOUT LIMITATION, RELATIVE TO PRICING ASSUMPTIONS, OR
QUALITY OR QUANTITY OF HYDROCARBON RESERVES (IF ANY) ATTRIBUTABLE TO THE ASSETS
OR THE ABILITY OR POTENTIAL OF THE ASSETS TO PRODUCE HYDROCARBONS OR THE
ENVIRONMENTAL CONDITION OF THE ASSETS OR ANY OTHER MATTERS CONTAINED IN THE
PROPRIETARY DATA OR ANY OTHER MATERIALS FURNISHED OR MADE AVAILABLE TO GRANTEE
BY GRANTOR OR BY GRANTOR'S AGENTS OR REPRESENTATIVES. ANY AND ALL SUCH DATA,
RECORDS, REPORTS, PROJECTIONS, INFORMATION AND OTHER MATERIALS (WRITTEN OR ORAL)
FURNISHED BY GRANTOR OR OTHERWISE MADE AVAILABLE OR DISCLOSED TO GRANTEE SHALL
NOT CREATE OR GIVE RISE TO ANY LIABILITY OF OR AGAINST GRANTOR AND ANY RELIANCE
ON OR USE OF THE SAME SHALL BE AT GRANTEE'S SOLE RISK TO THE MAXIMUM EXTENT
PERMITTED BY LAW.
This conveyance is made with subrogation of Grantee as to any
representations and warranties heretofore made by others relative to the Assets.
IN WITNESS WHEREOF this Conveyance has been executed and delivered on
___________________________, 2001, effective as to runs of oil and deliveries of
gas, and for all other purposes, as of 7:00 a.m. local time at the locations of
the Assets, respectively on May 1, 2001.
GRANTOR:
NEG HOLDING LLC
By:
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Name:
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Title:
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GRANTEE:
NEG OPERATING LLC
By:
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Name:
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Title:
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ACKNOWLEDGMENTS
STATE OF NEW YORK )
)
COUNTY OF NEW YORK )
Before me, the undersigned Notary Public in and for said County and
State on this day personally appeared _____________________________, to me
personally known, who, being by me fully sworn, did say that he is the
_________________________ of NEG Holding LLC, a Delaware limited liability
company, and that the foregoing instrument was signed in behalf of the limited
liability company as the free act and deed of the limited liability company.
Given under my hand and official seal this ____day of ________________,
2001.
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Notary Public in and for the State of Texas
My commission expires:
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STATE OF NEW YORK )
)
COUNTY OF NEW YORK )
Before me, the undersigned Notary Public in and for said County and
State on this day personally appeared ___________________________, to me
personally known, who, being by me fully sworn, did say that he is the
______________________of NEG Operating LLC, a Delaware limited liability
company, and that the foregoing instrument was signed in behalf of the limited
liability company as the free act and deed of the limited liability company.
Given under my hand and official seal this _____day of ___________,
2001.
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Notary Public in and for the State of New York
My commission expires:
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