Applicable Contracts. Except as set forth on Exhibit A-3, to Seller’s Knowledge, there are no (A) contracts for the purchase, sale or exchange of Hydrocarbons that are not cancelable by Seller without penalty or other material payment on not more than thirty (30) days prior notice, (B) contracts for the gathering, treatment, processing, handling, storage or transportation of Hydrocarbons, (C) purchase agreements, farmin or farmout agreements, exploration agreements, participation agreements, area of mutual interest agreements or similar agreements, (D) partnership agreements, joint venture agreements or similar agreements, (E) operating agreements, unit agreements or unit operating agreements, or (F) contracts that can reasonably be expected to result in aggregate receipts or payments by Seller (and its affiliates) of more than five hundred thousand dollars ($500,000) (net to the interest of Seller) during the current or any subsequent fiscal year of Seller, in each case, that will be binding on Buyer or encumber or bind any of the Properties after the Closing. Seller has made available to Buyer true, correct and complete copies of the Applicable Contracts listed on Exhibit A-3 and all amendments thereto. To Seller’s Knowledge, each Applicable Contract is in full force and effect and enforceable against the other parties thereto in all material respects. Seller is not in any default in any material respect under any of the Applicable Contracts and to Seller’s Knowledge, no other party to any such Applicable Contract is in default thereunder.
Appears in 2 contracts
Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Sandridge Energy Inc)