Common use of Covenants of Manager Clause in Contracts

Covenants of Manager. Except for the transactions described in this Agreement (including, without limitation, those described in Section 3(d)), Manager covenants and agrees with Company as follows: (i) Manager will not commingle its assets with those of Company or its Subsidiaries, except to the extent production funds are received by Manager prior to remitting proceeds to royalty owners, working interest owners, and Company or as otherwise contemplated by this Agreement. (ii) Manager will not hold title to any assets owned by Company or its Subsidiaries and will cause each of Company and its Subsidiaries to hold its assets in its own name. (iii) Manager will maintain separate accounts, financial statements, books and records from those of Company or its Subsidiaries. (iv) Manager shall use commercially reasonable efforts to make Persons available to serve as Officers of General Partner if approved by the Board. (v) Manager will notify Company of any Change of Control of Manager within 10 Business Days of such Change of Control. (vi) Manager will comply with applicable Legal Requirements in all material respects in its performance of the Services.

Covenants of Manager. Except for the transactions described in this Agreement (including, without limitation, those described in Section 3(d4(d)), Manager covenants and agrees with Company as follows: (i) Manager will not commingle its assets with those of Company or its Subsidiaries, except to the extent production funds are received by Manager prior to remitting proceeds to royalty owners, working interest owners, and Company or as otherwise contemplated by this Agreement. (ii) Manager will not hold title to any assets owned by Company or its Subsidiaries and will cause each of Company and its Subsidiaries to hold its assets in its own name. (iii) Manager will maintain separate accounts, financial statements, books and records from those of Company or its Subsidiaries. (iv) Manager shall use commercially reasonable efforts to make Persons available to serve as Officers of General Partner Company if approved by the Board. (v) Manager will notify Company of any Change of Control of Manager within 10 Business Days of such Change of Control. (vi) Manager will comply with applicable Legal Requirements in all material respects in its performance of the Services.