P&A Obligations definition

P&A Obligations shall have the meaning set forth in Section 7.4.

P&A Obligations means, collectively, Liabilities, regardless of whether such Liabilities or obligations arose or arise on, before, or after the Closing Date, to perform any plugging, replugging, abandonment, removal, site clearance, site survey, remediation, disposal, and restoration operations with respect to the Assets, in each case to be conducted in compliance with applicable Laws and Contracts, and in a good and workmanlike manner.

P&A Obligations means, collectively, Liabilities, regardless of whether such Liabilities arose or arise on, before, or after the Closing Date, relating to the following applicable plugging, replugging, abandonment, removal, site clearance, site survey, remediation, disposal and restoration operations, in each case to be conducted in compliance with applicable Laws and Applicable Contracts, and in accordance with the methods and practices of a reasonably prudent owner and/or operator, as applicable, of upstream oil and gas properties similar to the Assets and located in the Transaction Area:

Examples of P&A Obligations in a sentence

• In addition, if, on or before the Effective Date, the Debtors have obtained new sureties to secure performance of the Beta P&A Obligations (in addition to the Beta Replacement Sureties), then the Beta Trustee shall be authorized and directed to release the portion of the Beta Trust Pre-Existing Cash Deposit equal to the amount of such additional sureties.

• When Buyer presents to XTO Energy P&A Documentation evidencing that all of the P&A Obligations with respect to the Interests and Property owned by Buyer have been performed, XTO Energy shall release the performance bond on or before the date that is sixty (60) days from the day of receipt of such P&A Documentation.

• If the Surety shall decide, upon default by the Principal, to commence, or cause to be commenced, the performance of the P&A Obligations with respect to a Subject Lease described in Schedule A hereto, said operations shall continue until such time as the P&A Obligations have been satisfied, with the amount of this Bond being reduced by the costs incurred by the Surety in connection with such operations but not to exceed the P&A Amount associated with such Subject Lease set forth in Schedule A hereto.

• On the Rooster Plan Effective Date, the Rooster Debtors estimate that the P&A Obligations will range from $10,000,000 to $12,000,000.

• The Vacaville Pledge Documents will also provide that Qualified Securities (or proceeds thereof) remaining after Genentech's PA Obligations are satisfied in full shall be promptly returned to Genentech, free from any security interest or lien under the Vacaville Pledge Documents.

More Definitions of P&A Obligations

P&A Obligations means any plugging and abandonment, decommissioning, and similar health, safety, or environmental obligations and liabilities of the Debtors arising from or related to the various wells, oil and gas platforms, pipelines, other facilities, and interests owned by the Debtors.

P&A Obligations has the meaning set forth in Section 2.8.

P&A Obligations means all obligations and liabilities of Principal to abandon, restore and remediate the Properties, whether arising before or after August 1, 2011 (the “Effective Time”), including obligations, as applicable to the Properties, to: (a) obtain plugging exceptions in the operator’s name for each Well with a current plugging exception, or permanently plugging and abandoning a Well; (b) plug, abandon, and if necessary, re-abandon each Well; (c) remove all equipment and facilities, including flowlines, pipelines and platforms; (d) close all pits; and (e) restore and remediate the surface, subsurface and offshore sites associated with the Properties; and

P&A Obligations means Venoco's obligations in respect of the Plugging and Abandonment of the xxxxx required under 30 CFR Part 250 et seq., Venoco's DPP and any other applicable MMS regulations or requirements, including any required approval or consent of the MMS, in each case only with respect to production or injection xxxxx drilled from Platform Grace and any associated subsea pipeline infrastructure that is not intended to be maintained in order to conduct Pigging and Pipeline Operations.

P&A Obligations means all “Obligations” owing by the PA Borrowers to PA Lender as defined in the PA Credit Agreement.

P&A Obligations with respect to all xxxxx, platforms, pipelines, facilities and other equipment currently located on the leases described in Exhibit F hereto (the “Operated Properties”), and (ii) all payments and/or deposits to be made by Buyer into the Operated Escrow Account as set forth in Section 7.07.01(c) hereunder (collectively, the “Guaranteed Obligations”), as and when the same shall be due and payable, whether by lapse of time, acceleration of maturity or otherwise, up to the maximum amount of Thirty Two Million Six Hundred Thousand and No/100 US Dollars (US$32,600,000.00) (the “Maximum Amount”), together with the costs of collection of the obligations of Guarantor under this Guaranty (the “Maximum Limit”), as the Maximum Amount may be adjusted from time to time (but never in excess of Thirty Two Million Six Hundred Thousand and No/100 US Dollars (US$32,600,000.00)) in accordance with the terms of the Guaranty. The obligations of Guarantor shall never exceed the Maximum Limit; however, subject to the Maximum Limit, the amount of the Guaranteed Obligations may vary (up or down) from time to time during the term of the Guaranty as the Maximum Amount varies in accordance with Section 7.07.01(b) below.

P&A Obligations means any obligation of a Rooster Debtor to plug and abandon and decommission offshore wells, remove or remediate offshore platforms, pipelines and other structures, confirm site clearance, and perform related decommissioning for oil and gas installations and with respect to the Rooster Debtors’ oil and gas leases and other interests.