Existing Red Deer Properties Sample Clauses

Existing Red Deer Properties. The Delivery Point for purposes of this Contract for any properties connected to RDGS (see Exhibit “C” attached) shall be the interconnect between RDGS and Buyer’s gathering system (Buyer’s existing meter 21-P, hereinafter defined as “Meter 21-P”). Seller will be responsible for delivering the gas from such properties to the Delivery Point and paying any associated delivery costs or fees. If Seller is unable to maintain or renew its existing gathering agreement with the owner of RDGS, Buyer will attempt to obtain a gathering agreement with the owner of RDGS to receive the gas from Seller’s facilities and deliver such gas to the Delivery Point. Prior to entering into such a gathering agreement, Buyer shall submit a copy to Seller for its approval. If Seller approves such gathering agreement, or fails to object to Buyer in writing within 15 days after its receipt thereof (which failure shall be deemed to constitute approval), Buyer shall proceed to execute the gathering agreement, in which case Buyer shall have the right to deduct all costs associated with such gathering agreement from the amounts otherwise due to Seller hereunder. If Buyer cannot obtain a gathering agreement on RDGS to deliver Seller’s gas to the Delivery Point and so notifies Seller in writing, or if Seller makes a timely objection to a proposed gathering agreement as outlined above, then Seller shall have 30 days from the date of such notice or objection (whichever is applicable) in which to commit to Buyer in writing to construct and operate, at Seller’s sole risk and expense, the necessary gathering facilities to deliver Seller’s gas to the Delivery Point. If Seller fails to make such commitment within the time permitted and Buyer desires to extend its existing gathering system to connect directly to well(s) listed in Exhibit “C”, Buyer may do so and Seller shall reimburse Buyer for the full cost of constructing and operating such new gathering system. (**) Upon completion of any such new connection, the Delivery Point for the affected gas shall be the point of interconnection between Seller’s facilities and Buyer’s gathering system. (**)
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Related to Existing Red Deer Properties

  • Existence, Properties, Etc (a) The Company shall do, or cause to be done, all things, or proceed with due diligence with any actions or courses of action, that may be reasonably necessary (i) to maintain Company's due organization, valid existence and good standing under the laws of its state of incorporation, and (ii) to preserve and keep in full force and effect all qualifications, licenses and registrations in those jurisdictions in which the failure to do so could have a Material Adverse Effect (as defined below); and (b) the Company shall not do, or cause to be done, any act impairing the Company's corporate power or authority (i) to carry on the Company's business as now conducted, and (ii) to execute or deliver this Agreement or any other document delivered in connection herewith, including, without limitation, any UCC-1 Financing Statements required by the Secured Party to which it is or will be a party, or perform any of its obligations hereunder or thereunder. For purpose of this Agreement, the term "Material Adverse Effect" shall mean any material and adverse affect as determined by Secured Party in its sole discretion, whether individually or in the aggregate, upon (a) the Company's assets, business, operations, properties or condition, financial or otherwise; (b) the Company's to make payment as and when due of all or any part of the Obligations; or (c) the Pledged Property.

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to: (b) Pay all real estate and personal property taxes, assessments, water rates or sewer rents, ground rents, maintenance charges, impositions, and any other charges, including vault charges and license fees for the use of vaults, chutes and similar areas adjoining any Borrowing Base Property, now or hereafter levied or assessed or imposed against any Borrowing Base Property or any part thereof (except those which are being contested in good faith by appropriate proceedings diligently conducted). (c) Promptly pay (or cause to be paid) when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with any Borrowing Base Property (except those which are being contested in good faith by appropriate proceedings diligently conducted), and in any event never permit to be created or exist in respect of any Borrowing Base Property or any part thereof any other or additional Lien or security interest other than Liens permitted by Section 8.01. (d) Operate the Borrowing Base Properties in a good and workmanlike manner and in all material respects in accordance with all Laws in accordance with such Loan Party’s prudent business judgment. (e) Cause each other Loan Party to, to the extent owned and controlled by a Loan Party, preserve, protect, renew, extend and retain all material rights and privileges granted for or applicable to each Borrowing Base Property.

  • Additional Capital Contributions and Issuances of Additional Partnership Interests Except as provided in this Section 4.2 or in Section 4.3, the Partners shall have no right or obligation to make any additional Capital Contributions or loans to the Partnership. The General Partner may contribute additional capital to the Partnership, from time to time, and receive additional Partnership Interests in respect thereof, in the manner contemplated in this Section 4.2.

  • After Acquired Real Property Upon the acquisition by it or any of its Subsidiaries after the date hereof of any interest (whether fee or leasehold) in any real property (wherever located) (each such interest being a “New Facility”) with a Current Value (as defined below) in excess of $500,000 in the case of a fee interest immediately so notify the Collateral Agent, setting forth with specificity a description of the interest acquired, the location of the real property, any structures or improvements thereon and either an appraisal or such Loan Party’s good-faith estimate of the current value of such real property (for purposes of this Section, the “Current Value”). The Collateral Agent shall notify such Loan Party whether it intends to require a Mortgage (and any other Real Property Deliverables or landlord’s waiver (pursuant to Section 7.01(l) hereof) with respect to such New Facility. Upon receipt of such notice requesting a Mortgage (and any other Real Property Deliverables) or landlord’s waiver, the Person that has acquired such New Facility shall promptly furnish the same to the Collateral Agent. The Borrower shall pay all fees and expenses, including, without limitation, reasonable attorneys’ fees and expenses, and all title insurance charges and premiums, in connection with each Loan Party’s obligations under this Section 7.01(m).

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”