Penn West definition

Penn West means Penn West Energy Trust, an open-ended unincorporated investment trust established under the laws of the Province of Alberta pursuant to the Penn West Trust Indenture;

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Penn West. , “we”, “us” or “our” means: (i) subsequent to the completion of the Corporate Conversion, Penn West Petroleum Ltd., a corporation existing under the ABCA and the successor to Penn West Trust; and (ii) prior to the completion of the Corporate Conversion, Penn West Trust. Where the context requires, these terms also include all of Penn West’s Subsidiaries on a consolidated basis.

Penn West means Penn West Petroleum Ltd.

Examples of Penn West in a sentence

Penn West Northern Harrier Partnership Penn West Petroleum Penn West PROP Holdco Ltd.
Penn West Petroleum Alberta Restricted General partner interests owned by Penn West Petroleum Ltd.
No fractional Penn West Units will be issued on any conversion but in lieu thereof, the Trust will satisfy such fractional interest by a cash payment equal to the market price of such fractional interest determined in accordance with the Indenture.
The Borrower will, and will cause each other Penn West Party to, perform or cause to be performed all obligations under all leases relating to its property, including payment of rentals, royalties, taxes or other charges in respect thereof which are necessary to maintain all such leases in good standing in all material respects, provided that this covenant will not restrict their right to surrender leases which are uneconomic to maintain.
Each Penn West Party has in all respects complied with the contractual provisions and applicable Laws relating to each Pension Plan to which it is a party or by which it is otherwise bound, except to the extent failure to comply could not reasonably be expected to have a Material Adverse Effect.
Alberta Inactive Restricted 100% owned by Penn West Petroleum Ltd.
Each of the Penn West Parties has (i) obtained all permits, licenses and other authorizations which are required under Environmental Laws; and (ii) is in full compliance with Environmental Laws and with the terms and conditions of all such permits, licenses and authorizations; all except to the extent that failure to so obtain or so comply could not reasonably be expected to have a Material Adverse Effect.
Peace River Oil Partnership Alberta Restricted General partner interests owned by Penn West Northern Harrier Partnership (54.99%), Penn West Sandhill Crane Ltd.
This Agreement and the other Documents constitute the entire agreement between the Agent and the Lenders on one hand and the Penn West Parties on the other hand, and cancels and supersedes any other agreements, undertakings, declarations, representations and warranties, written or verbal among all such Parties in respect of the subject matter of this Agreement.
The Borrower will, and will cause each other Penn West Party to, file all tax returns which are required to be filed and pay all Taxes (including interest and penalties) which are due and payable, unless such payment is being disputed in good faith, and the applicable Penn West Party has made all appropriate provision in respect thereof in accordance with GAAP, except, in either case, to the extent that a failure to do so could not reasonably be expected to have a Material Adverse Effect.

More Definitions of Penn West

Penn West. , "we", "us", "our" or "Trust" means Penn West Energy Trust, a trust established under the laws of the Province of Alberta pursuant to the Trust Indenture. Where the context requires, these terms also include all of Penn West's Subsidiaries on a consolidated basis.

Penn West or the “Trust”) in connection with the proposed plan of arrangement (the “Arrangement”) involving the Trust, Penn West Petroleum Ltd. (“PWPL”), certain affiliates of the Trust and PWPL and Unitholders pursuant to an arrangement agreement (the “Arrangement Agreement”) dated effective November 10, 2010, the full text of which is set out in the Information Circular and Proxy Statement (the “Information Circular”) of the Trust dated November 10, 2010. Capitalized terms used but not defined in this Letter of Transmittal shall have the meanings given to them in the Information Circular. The Arrangement will result in the reorganization of the Trust into a dividend paying, growth oriented, publicly traded exploration and production company (“New Penn West”) that will be named “Penn West Petroleum Ltd.” and that, together with its subsidiaries, will carry on the business presently carried on by the Trust and its subsidiaries. Pursuant to the Arrangement, Unitholders will receive, through a series of steps, for each one Trust Unit held, one common share (“New Penn West Share”) of New Penn West as of January 1, 2011.

Penn West. , “we”, “us”, “our” or “Trust” means Penn West Energy Trust, a trust established under the laws of the Province of Alberta pursuant to the Trust Indenture. Where the context requires, these terms also include all of Penn West’s Subsidiaries on a consolidated basis, which in the case of information presented as at or after January 10, 2008 includes Vault and Vault’s former Subsidiaries (if the context requires), and in the case of information presented as at or after January 11, 2008 includes Canetic and Canetic’s former Subsidiaries (where the context requires).

Penn West means Penn West Petroleum Ltd., a corporation subsisting under the ABCA.