Subject Easements definition
Examples of Subject Easements in a sentence
Operate the Mortgaged Property, or cause it to be operated, in a careful and efficient manner in accordance with the practices of the industry and in compliance with all Subject Leases, Subject Contracts, Subject Easements, and laws.
Maintain all Subject Leases, Subject Contracts, and Subject Easements in full force and effect and not permit to occur the surrender, abandonment, release, or termination of any Subject Lease, Subject Contracts, or Subject Easements, so long as the Subject Interests covered thereby or relating thereto are capable of producing Hydrocarbons in paying quantities.
Grantor will perform all of Grantor’s obligations under and maintain all Subject Leases, Subject Contracts, and Subject Easements in full force and effect, and Grantor will not permit to occur the surrender, abandonment, release, or termination of any Subject Lease, Subject Contracts, or Subject Easements, so long as the Subject Interests covered thereby or relating thereto are capable of producing Hydrocarbons in paying quantities.
Grantor will operate the Mortgaged Property, or cause it to be operated, in a careful and efficient manner in accordance with the practices of the industry and in compliance with all Subject Leases, Subject Contracts, Subject Easements, and Laws.
Seller has provided Buyers with true and complete copies of the documents creating the Subject Easements, and any amendments thereto.
Maintain all Subject Leases, Subject Contracts, and Subject Easements in full force and effect and not permit to occur the surrender, abandonment, release, or termination of any Subject Lease, Subject Contracts, or Subject Easements, so long as the Subject of Interests covered thereby or relating thereto are capable of producing Hydrocarbons in paying quantities.
Upon the Closing, Purchaser expressly agrees to assume and perform (and to indemnify all Seller Indemnitees with respect to) all obligations of HHOC under any of the Subject Contracts arising from operation of the Subject Leases or the pipelines located on the Subject Easements on and after the Closing Date.
The portion of the Purchase Price allocable to HHOC shall be allocated among tangibles and reserves comprising the Subject Interests as follows: (a) ninety-seven percent (97%) of such portion of the Purchase Price shall be attributed to the interest of HHOC in the Subject Leases, the Subject Easements, and the Subject Contracts and (b) three percent (3%) of such portion of the Purchase Price shall be attributed to the Subject Lease Equipment, the Subject Pipeline Equipment, and other personal property.
Mortgagor will operate the Mortgaged Property, or cause it to be operated, in a careful and efficient manner in accordance with the practices of the industry and in compliance with all Subject Leases, Subject Contracts, Subject Easements, and Laws.
Without limitation of the right of Purchaser to conduct any investigations of the Subject Interests, Purchaser may conduct an environmental assessment of the lands covered by the Subject Leases and the lands covered by the Subject Easements.