New Source Energy definition
Examples of New Source Energy in a sentence
New Source Energy acknowledges and agrees that the Confidential Information is being furnished to New Source Energy for the sole and exclusive purpose of enabling it to perform the Services and the Confidential Information may not be used by it for any other purpose.
Subject to the last sentence of Section 7.1(a), nothing in this Article VII shall prohibit the MLP, New Source Energy or any of their respective affiliates from conducting business in any location, including in and near the areas where the MLP Assets are located.
If such legal rights are not assignable pursuant to the terms of such acquisition agreements or for any other reason, New Source Energy agrees to pursue its remedies for any indemnifiable claims on behalf of the MLP.
New Source Energy shall be permitted to rely on any information or data provided by the General Partner to New Source Energy in connection with the performance of its duties and provision of Services under this Agreement, except to the extent that New Source Energy has actual knowledge that such information or data is inaccurate or incomplete.
To the extent New Source Energy shall have charge or possession of any of the General Partner’s or the MLP Group’s assets in connection with the provision of the Services, New Source Energy shall separately maintain, and not commingle, the assets of the General Partner or the MLP Group with those of New Source Energy or any other Person.
New Source Energy is authorized to enter into and act on the General Partner’s behalf, as agent, in connection with any agreement with third parties, including any agreements with purchasers of hydrocarbon products produced from the Properties or providers of transportation services for such production, reasonably related to the provision of the Services.
New Source Energy agrees to assign to the MLP all legal rights to pursue claims for indemnification included in any acquisition agreements pursuant to which New Source Energy acquired any of the MLP Assets.
The General Partner shall (a) exercise the Audit Right only upon reasonable written notice to New Source Energy and during normal business hours and (b) use its reasonable efforts to conduct the Audit Right in such a manner as to minimize the inconvenience and disruption to New Source Energy.
For the avoidance of doubt, the provisions of this Agreement shall not give rise to any right of recourse against any officer, director, manager or employee of New Source Energy, the General Partner or any of their respective Affiliates.
New Source Energy shall not permit any liens, encumbrances or charges upon or against any of the Properties arising from the provision of Services or materials under this Agreement except as approved, or consented to, by the General Partner.