Gathering Systems Clause Samples
The 'Gathering Systems' clause defines the infrastructure and processes used to collect, transport, and sometimes process resources such as oil, gas, or other commodities from their point of extraction to a central facility or processing plant. This clause typically outlines the ownership, operation, maintenance responsibilities, and access rights related to pipelines, tanks, or other equipment involved in gathering. By clearly specifying these aspects, the clause ensures efficient resource collection, minimizes disputes over usage or maintenance, and allocates responsibility for the safe and effective operation of the gathering system.
POPULAR SAMPLE Copied 1 times
Gathering Systems. The Gathering Systems covered by the Mortgages grant to Agent, for the benefit of Lenders, a perfected lien upon all transportation facilities necessary to transport Hydrocarbons produced from the Wells included within the Mortga▇▇▇ Properties to a transit point for sale or transportation by a Person who is not an affiliate of Borrower or any of its Subsidiaries.
Gathering Systems. (a) PEI owns or has an ownership interest in the gathering systems described in Schedule 3.7 (the "Gathering Systems") and in all assets reasonably necessary for the operation thereof, free and clear of any mortgages, liens, security interests or other encumbrances except mortgages and security interests in favor of The Chase Manhattan Bank, N.
A. Schedule 3.7 identifies the Gathering Systems that are owned solely by PEI and those in which it owns an undivided fractional interest.
(b) PEI owns or holds all easements, rights-of-way, licenses or other rights necessary for the operation of the Gathering Systems.
(c) The Gathering Systems are located within the boundaries of valid and subsisting easements, rights-of-way, licenses or other rights held by PEI.
(d) To Seller's knowledge, neither the Seller nor PEI has received any notice of any action, suit or proceeding pending or threatened against PEI adverse to the ownership of PEI in the Gathering Systems or the right of PEI to operate or maintain the Gathering Systems under any permit, right-of-way, easement or lease under or on which the Gathering Systems are located. As used in this Agreement, "Seller's knowledge" shall refer to matters which are known to Paul ▇▇▇▇▇, ▇▇m ▇▇▇▇▇▇▇▇▇▇, ▇▇ny ▇▇▇▇▇▇▇▇ ▇▇ Dave ▇▇▇ ▇▇ by the current officers or directors of PEI.
Gathering Systems. The Gathering Systems and the operation thereof are subject to rules, regulations and orders of regulatory agencies or authorities having jurisdiction over Seller's operations and activities. Such rules, regulations or orders do not presently cover gathering or processing charges. Seller is not a party to or, to the best of its knowledge, the subject of any regulatory action, investigation or proceeding that concerns the transportation of gas in any part of the Gathering Systems.
Gathering Systems. (a) The Target Group holds Good and Defensible Title to the Gathering Systems, Rights-of-Way and other material assets of the Target Group (other than the Oil & Gas Interests), as applicable.
(b) No part of the assets comprising the Gathering Systems is located on lands that are not subject to a Right-of-Way or other agreement, easement or surface right held by an entity of the Target Group permitting the location of such assets on the lands covered by such Right-of-Way, other agreement, easement or surface right, and no Target Group Member has received any written notice of default under any instrument creating an interest in any such Right-of-Way, agreement, easement or surface right.
(c) There is not, nor has there been threatened, any (i) breach or event of default on the part any Target Group Member with respect to any Right-of-Way, (ii) to Seller’s Knowledge, breach or event of default on the part of any other party to any such Right-of-Way or (iii) breach or event that, with the giving of notice or lapse of time or both, would constitute such breach or event of default on the part of any Target Group Member with respect to any such Right-of-Way, or to Seller’s Knowledge on the part of any other party thereto.
(d) The assets and properties of the Target Group, taken as a whole, include all of the assets reasonably necessary to access, own and operate the Gathering Systems as currently being operated by the Target Group.
(e) The Gathering Systems are in an operable state of repair adequate to maintain operations as currently conducted by the Target Group, ordinary wear and tear excepted.
(f) There are no gaps (including any gap arising as a result of any breach by Seller or any Target Group Member of the terms of any such Rights-of-Way) in the Rights-of-Way for any pipeline and related facilities comprising a part of the Gathering System.
(g) No Target Group Member has acquired any of the Gathering System through the use or threatened use of eminent domain or condemnation.
Gathering Systems. A-5.......................
Gathering Systems. Schedule 3.16 sets forth a description of the Gathering Systems. Except as set forth in Schedule 3.16, all of the Gathering Systems (a) are in good operating condition and repair, with no material defects, (b) have been maintained consistent with good commercial practices, (c) are suitable for their current uses and, in the case of any plants, buildings and other structures, are structurally sound. All of the Gathering Systems are located on easements, surface leases, servitudes, licenses or similar rights-of-way that were duly and validly granted or otherwise created by the grantor thereof, are in full force and effect in accordance with their terms and include all rights necessary for the use, operation and maintenance of the Gathering Systems.
Gathering Systems