Assumed Environmental Obligations as defined in Section 5.02(a).
Assumed Environmental Obligations means, with respect to Seller's ownership of the Assets, the operation of the Assets or the condition of the Assets and any surface or subsurface depths used in connection with the Assets, including any pooled, communitized or unitized acreage by virtue of the Assets being a part of the pooled, communitized or unitized area (collectively, the “Subject Property”), all liabilities, losses, claims, obligations, costs or expenses arising from or relating to the following: (i) any violation or alleged violation of, or non-compliance with applicable Environmental Law prior to, on, or after the Effective Time, including the cost of correcting such violations or noncompliance and any fines or penalties arising out of such violations or noncompliance; (ii) the release, discharge or disposal of Hazardous Substances prior to, on, or after the Effective Time, at, on, in, under, from or migrating to or from the Subject Property, including claims for property damage, loss, injury, damage to natural resources, bodily injury or wrongful death, and any investigation, remediation or monitoring with respect to said Hazardous Substances; (iii) any Environmental Defects that are not Indemnified Environmental Defects; or (iv) those matters that would otherwise be Environmental Defects but for the provisions of Section 5.04(c).
Assumed Environmental Obligations as defined in Section 5.02(a). “Assumed Obligations” - as defined in Section 16.02.
Examples of Assumed Environmental Obligations in a sentence
With respect to any non-operated interests in the Assets being transferred to Buyer under this Agreement, Buyer agrees to assume full responsibility and liability, from and after the Effective Time, for the Assumed Environmental Obligations with respect to the non-operated interests being conveyed and assigned under this Agreement.
As additional consideration for the sale of the Assets, Buyer shall timely and fully assume and satisfy the Buyer's Assumed Obligations, including the Assumed Plugging and Abandonment Obligations and the Assumed Environmental Obligations, and shall perform the covenants contained herein.
Except for (i) the exclusions from Buyer's Assumed Environmental Obligations specified in Section 12.5(b) and (ii) Sellers' representation and warranty set forth in Section 4.1(p), which representation and warranty does not survive the Closing, Buyer shall be deemed to have waived any Environmental Defect which Buyer fails to assert in its Notice of Environmental Defect on or before the Defect Notice Date.
More Definitions of Assumed Environmental Obligations
Assumed Environmental Obligations means all Losses related to the operation of the Assets or the condition of the Assets and any surface or subsurface depths used or affected in connection with the Assets, including any pooled, communitized or unitized acreage by virtue of the Assets being a part of the pooled, communitized or unitized area (collectively, the “Subject Property”), and arising from or relating to the following: (i) any violation or alleged violation of, or non-compliance with applicable Environmental Law prior to, on, or after the Effective Time, including the cost of correcting such violations or noncompliance and any fines or penalties arising out of such violations or noncompliance; (ii) the release, discharge or disposal of Hazardous Substances prior to, on, or after the Effective Time, at, on, in, under, from or migrating to or from the Subject Property, including claims for property damage, loss, injury, damage to natural resources, bodily injury or wrongful death, and any investigation, remediation or monitoring with respect to said Hazardous Substances; (iii) any Environmental Defects; (iv) those matters that would otherwise be Environmental Defects but for the provisions of Section 5.04(c); and (v) those matters described on Schedule 5.02(a).
Assumed Environmental Obligations means, with respect to Seller’s ownership and operation of the Assets or the condition of the Assets and any surface or subsurface depths used in connection with the Assets, including any pooled, communitized or unitized acreage by virtue of the Assets being a part of the pooled, communitized or unitized area (collectively, the “Subject Property”), all liabilities, losses, claims, obligations, costs or expenses arising from or relating to the following: (i) any violation or alleged violation of, or non-compliance with applicable Environmental Law prior to, on, or after the Effective Time, including the cost of correcting such violations or noncompliance and any fines or penalties arising out of such violations or noncompliance; (ii) the release, discharge or disposal of Hazardous Substances prior to, on, or after the Effective Time, at, on, in, under, from or migrating to or from the Subject Property, including claims for property damage, loss, injury, damage to natural resources, bodily injury or wrongful death, and any investigation, remediation or monitoring with respect to said Hazardous Substances; (iii) any Environmental Defects that are not Indemnified Environmental Defects; and (iv) those matters that would otherwise be Environmental Defects but for the provisions of Section 5.04(c).
Assumed Environmental Obligations has the meaning set forth in Section 12.5(a).
Assumed Environmental Obligations as defined in Section 5.02(a). “Assumed Obligations” — as defined in Section 18.02. “Base Financial Statements” means the historical financial statements in respect of the Assets required to be filed by Parent pursuant to Regulation S-X of the Securities Act, or, in lieu 1 thereof, an alternate set of financial statements with respect to which Buyer notifies Seller that the SEC has determined to permit Parent to file.
Assumed Environmental Obligations as defined in Section 5.02(a). “Assumed Obligations” — as defined in Section 18.02. “Base Financial Statements” means the historical financial statements in respect of the Assets required to be filed by Parent pursuant to Regulation S-X of the Securities Act, or, in lieu 1 thereof, an alternate set of financial statements with respect to which Buyer notifies Seller that the SEC has determined to permit Parent to file.