Common use of Gathering Systems Clause in Contracts

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. (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. 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.