Common use of Contracts and Other Obligations Clause in Contracts

Contracts and Other Obligations. The Company is not a party to or otherwise bound by, any material written or oral: (a) Contract or agreement not made in the ordinary course of business; (b) Employment or consultant contract which is not terminable at will without cost or other liability to the Company or any successor; (c) Contract with any labor union; (d) Bonus, pension, profit-sharing, retirement, share purchase, stock option, hospitalization, group insurance, or similar plan providing employee benefits; (e) Advertising contract or contract for public relations services; (f) Purchase, supply, or service contracts in excess of $100,000 each, or in the aggregate of $500,000 for all such contracts whether below or above $100,000; (g) Deed of trust, mortgage, conditional sales contract, security agreement, pledge agreement, trust receipt, or any other agreement or arrangement whereby any of the assets or properties of the Company are subjected to a lien, encumbrance, charge, or other restriction; (h) Material contract or other material commitment continuing for a period of more then thirty days and which is not terminable without cost or other liability to the Company or its successor; or (i) Any material contract, agreement, lease or other binding arrangement with which the Company is not in substantial compliance therewith. (j) Nothing herein shall prohibit or restrict the Company from making expenditures required under operating agreements, joint venture agreements, unit, pooling, farmout agreements or expenditure necessitated by emergency conditions to protect or preserve life or property or expenditures required by law or administrative authority or performing its existing commitments.