Resource Entities definition

Resource Entities. Right to Require Extension of the Gathering System. With respect to Resource Entity ▇▇▇▇▇ other than Connectable ▇▇▇▇▇, if a Resource Entity constructs a Flow Line from any such Resource Entity Well to within 1,000 feet of the Gathering System (such distance to be measured from the end of the related Flow Line from the Resource Entity Well to the nearest point of intersection with the Gathering System), the Resource Entities shall be entitled to require the MLP, at the MLP's sole cost and expense, to extend the Gathering System to meet such Flow Line. The Resource Entities shall give the MLP written notice of the intent to drill a Resource Entity Well subject to this Section. Within 30 days of the date of the Resource Entities' notice, the MLP shall advise the Resource Entities whether it wishes to exercise its rights under this Section. If the MLP exercises its rights under this Section, the Resource Entities shall complete construction of the Gathering System extension within 60 days after the date designated by the Resource Entities as the date the Resource Entity Well will be completed as a producing natural gas well.

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Resource Entities means, collectively, Resource Capital Fund IV L.P. and Resource Capital Fund V L.P.

Resource Entities. Right to Require Extension of the Gathering System. With respect to Resource Entity ▇▇▇▇▇ other than Connectable ▇▇▇▇▇, if a Resource Entity constructs Flow Lines from any such Resource Entity Well to within 1,000 feet of the Gathering System (such distance to be measured from the end of the Flow Lines from the Resource Entity Well to the nearest point of intersection with the Gathering System, the Resource Entities shall be entitled to require the MLP, at the MLP's sole cost and expense, to extend the Gathering System to meet such Flow Lines

Examples of Resource Entities in a sentence

• The Resource Entities agree to assist the MLP in seeking to identify for possible acquisition Third Party Gathering Systems and to provide consulting services to MLP in evaluating and acquiring any such identified gathering system.

• The Resource Entities shall give the MLP written notice of the intent to drill a Resource Entity Well subject to this Section.

• If the MLP advises the Resource Entities of its intent to acquire the Identified Third Party Gathering System, the Resource Entities shall refrain from making an offer for the Identified Third Party Gathering System except as permitted hereunder.

• Such notice shall identify the gathering system and its seller and the proposed sales price of the Identified Third Party Gathering System, and shall include all written information about the Identified Third Party Gathering System provided to the Resource Entities by or on behalf of the seller as well as any information or analyses compiled by the Resource Entities from other sources.

• In providing construction management services hereunder, the Resource Entities shall provide the services of a general contractor with respect to the applicable construction project.

• If the MLP exercises its rights under this Section, it shall complete construction of the Gathering System extension within 60 days after the date designated by the Resource Entities as the date the Resource Entity Well will be completed as a producing natural gas well.

• The Resource Entities shall not be entitled to any other compensation for the performance of construction management services hereunder.

• In the event the MLP expands the Gathering System or constructs a new addition to the Gathering System, whether pursuant to Article 2 or otherwise, the Resource Entities agree to provide to the MLP construction management services in connection with any such expansion as requested by the MLP.

• The Resource Entities jointly and severally agree that, at their sole cost and expense, they will construct up to 2,500 feet of Flow Line from any Connectable Well to the Gathering System.

• In addition, the Resource Entities shall pay to the MLP fees as required under Section 7.4 of the Master Natural Gas Gathering Agreement.

More Definitions of Resource Entities

Resource Entities means Resource Capital Fund IV L.P., Resource Capital Fund V L.P. and any Affiliate to which they transfer shares of Common Stock.