Union Oil definition
Examples of Union Oil in a sentence
Administrative Agent and each Bank also acknowledge that this Agreement and all of the Loan Documents are subject to the terms and provisions of that certain Asset Purchase Agreement (the "Purchase Agreement") dated June 23, 1998, effective April 1, 1998, executed by and between Shell Offshore Inc., et al., Borrower and Union Oil Company of California d/b/a Spirit Energy 76 ("Spirit"), insofar as this Agreement and the Loan Documents pertain to the Oil and Gas Properties covered by such Purchase Agreement.
Employees receiving disability benefits as of the Closing Date shall continue to receive benefits from plans sponsored by Union Oil or an affiliate of Union Oil while the disability continues or until their eligibility otherwise expires as provided in such plans.
No more than two of the persons nominated pursuant to this Section 5(b) shall be Union Oil Affiliates.
In the event that the Union Oil Ownership Percentage is greater than 35%, one of the Union Oil Affiliates nominated pursuant to this Section 5(b) must be approved by CEO and any non-Union Oil Affiliate nominated pursuant to this Section 5(b) must be approved by CEO, in each case such approval not to be unreasonably withheld.
For purposes of notice, until receipt of written notice changing same, the addresses of the parties shall be as follows: SELLER'S MAILING Union Oil Company of California 4021-4023 Ambassador Caff▇▇▇ ▇▇▇kway Post Office Box 69200 (70596-9200) Lafa▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Dalt▇▇ ▇.
In rendering such Tax Opinion, such counsel shall be entitled to rely upon representations of officers of Union Oil and Titan and of their respective "affiliates" reasonably satisfactory in form and substance to such counsel.
Section 1 of this Agreement will terminate ------------------------ at such time as Union Oil no longer owns, directly or indirectly, capital stock of the Company representing at least 35% of the ordinary voting power for the election of directors of the Company.
Union Oil and the Company shall have received ---------------------- a written opinion, in form reasonably satisfactory to each (the "Union Oil Tax Opinion"), to the effect that the transfer of the Assets and the assumption of the Liabilities specified in Section 2.1 will not result in gain or loss to Union Oil or the Company.
Union Oil and its affiliates are responsible for and shall timely pay all wages, salaries, employment benefits of any kind or nature, arising out of services performed by the Employees on or prior to the Closing Date including, without limitation, retirement, health and other benefits, vacation pay and any termination or severance pay, whether due immediately or at some future date, whether or not required under any collective bargaining agreement.
All sales, transfer, filing, recordation, -------------- registration, stamp, and similar Taxes and fees arising from or associated with the sale and transfer of the Assets as contemplated hereunder, whether levied on Titan, the Company or Union Oil, shall be borne by the Company, and the Company shall file all necessary documentation with respect to, and make all payments of, such Taxes and fees on a timely basis.