Common use of NORM Clause in Contracts

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT SOME EQUIPMENT LOCATED ON THE ASSETS MAY CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIAL (“NORM”). IN THIS REGARD, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR ATTACH ITSELF TO THE INSIDE OF MATERIALS AND EQUIPMENT AS SCALE OR IN OTHER FORMS, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY THE ASSETS MAY CONTAIN NORM AND THAT NORM-CONTAINING MATERIALS MAY BE BURIED OR MAY HAVE BEEN OTHERWISE DISPOSED OF ON THE LAND AND PROPERTIES COMPRISING OR SITUATED ON THE ASSETS. BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND DISPOSAL OF ASBESTOS AND NORM FROM THE ASSETS WHERE THEY MAY BE FOUND. BUYER SHALL, BY CLOSING ITS PURCHASE OF THE ASSETS, ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS AND OTHER HAZARDOUS SUBSTANCES AS A RESULT OF THESE OPERATIONS. THE GENERATION, FORMATION, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN OR ON THE ASSETS SHALL BE THE SOLE RESPONSIBILITY OF BUYER, AND BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY ARISING FROM, OUT OF OR IN CONNECTION WITH, OR OTHERWISE RELATING TO, THE PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR AFTER THE EFFECTIVE TIME, AND REGARDLESS OF THE SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF SELLER OR ANY OTHER PERSON OR PARTY.

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT SOME THE OIL AND GAS ASSETS HAVE BEEN USED FOR EXPLORATION, DEVELOPMENT AND PRODUCTION OF HYDROCARBONS AND WATER AND THAT THERE MAY BE PETROLEUM, PRODUCED WATER, WASTES OR OTHER MATERIALS LOCATED ON, UNDER OR ASSOCIATED WITH THE OIL AND GAS ASSETS. EQUIPMENT LOCATED ON AND SITES INCLUDED IN THE OIL AND GAS ASSETS MAY CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIAL (“NORM”). IN THIS REGARD, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR ATTACH ITSELF TO THE INSIDE OF ▇▇▇▇▇, MATERIALS AND EQUIPMENT AS SCALE SCALE, OR IN OTHER FORMS; THE ▇▇▇▇▇, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY OR INCLUDED IN THE OIL AND GAS ASSETS MAY CONTAIN NORM AND THAT NORM-OTHER WASTES OR HAZARDOUS SUBSTANCES/MATERIALS; AND NORM CONTAINING MATERIAL AND OTHER WASTES OR HAZARDOUS SUBSTANCES/MATERIALS MAY BE BURIED OR MAY HAVE BEEN BURIED, COME IN CONTACT WITH THE SOIL OR OTHERWISE BEEN DISPOSED OF ON OR AROUND THE LAND OIL AND PROPERTIES COMPRISING OR SITUATED ON THE GAS ASSETS. BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND REMEDIATION, REMOVAL, TRANSPORTATION OR DISPOSAL OF ASBESTOS WASTES, ASBESTOS, HAZARDOUS SUBSTANCES/MATERIALS, INCLUDING HYDROGEN SULFIDE GAS AND NORM FROM THE OIL AND GAS ASSETS. FROM AND AFTER THE CLOSING, BUYER SHALL ASSUME RESPONSIBILITY FOR THE CONTROL, STORAGE, HANDLING, TRANSPORTING AND DISPOSING OF OR DISCHARGE OF ALL MATERIALS, SUBSTANCES AND WASTES FROM THE OIL AND GAS ASSETS WHERE THEY MAY BE FOUND. BUYER SHALL(INCLUDING PRODUCED WATER, BY CLOSING ITS PURCHASE OF THE ASSETSHYDROGEN SULFIDE GAS, ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDSDRILLING FLUIDS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS NORM AND OTHER HAZARDOUS SUBSTANCES AS A RESULT OF THESE OPERATIONS. THE GENERATIONWASTES), FORMATION, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN OR ON THE ASSETS SHALL BE THE SOLE RESPONSIBILITY OF BUYER, AND BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY ARISING FROM, OUT OF OR IN CONNECTION WITH, OR OTHERWISE RELATING TO, THE PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR PRESENT AFTER THE EFFECTIVE TIME, IN A SAFE AND REGARDLESS OF THE SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF SELLER OR ANY OTHER PERSON OR PARTYPRUDENT MANNER AND IN ACCORDANCE WITH ALL APPLICABLE ENVIRONMENTAL LAWS.

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT SOME EQUIPMENT LOCATED ON THE ASSETS MAY IT HAS BEEN INFORMED THAT OIL AND GAS PRODUCING FORMATIONS CAN CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIAL (“NORM”). SOME OR ALL OF THE EQUIPMENT, MATERIAL, APPURTENANCES, IMPROVEMENTS AND FIXTURES SUBJECT TO THIS AGREEMENT MAY HAVE LEVELS OF NORM ABOVE BACKGROUND LEVELS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS REGARDEQUIPMENT. THEREFORE, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR ATTACH ITSELF NEED TO THE INSIDE OF MATERIALS AND EQUIPMENT AS SCALE OR IN OTHER FORMS, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY THE ASSETS MAY CONTAIN NORM AND THAT NORM-CONTAINING MATERIALS MAY BE BURIED OR MAY HAVE BEEN OTHERWISE DISPOSED OF ON THE LAND AND PROPERTIES COMPRISING OR SITUATED ON THE ASSETSFOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENT. BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND DISPOSAL OF ASBESTOS AND NORM FROM THE ASSETS WHERE THEY MAY BE FOUND. BUYER SHALLAGREES TO INDEMNIFY, BY CLOSING ITS PURCHASE OF THE ASSETS, ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS AND OTHER HAZARDOUS SUBSTANCES AS A RESULT OF THESE OPERATIONS. THE GENERATION, FORMATION, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN OR ON THE ASSETS SHALL BE THE SOLE RESPONSIBILITY OF BUYER, AND BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY DEFEND AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY WITH RESPECT TO ALL LIABILITIES AND OBLIGATIONS OR ALLEGED OR THREATENED LIABILITIES AND OBLIGATIONS, INCLUDING CLAIMS FOR PERSONAL INJURY, ILLNESS, DISEASE, WRONGFUL DEATH, DAMAGE TO PROPERTY, ENVIRONMENTAL POLLUTION OR CONTAMINATION, CLEANUP EXPENSES AND LIABILITY BASED ON STRICT LIABILITY OR CONDITION OF ASSETS, ATTRIBUTABLE TO OR ARISING FROM, OUT OF OR THE EXISTENCE OF NORM ON THE EQUIPMENT, MATERIAL, APPURTENANCES, IMPROVEMENTS AND FIXTURES SUBJECT TO THIS AGREEMENT, INCLUDING, WITHOUT LIMITATIONS ANY INTEREST, PENALTY, REASONABLE ATTORNEYS' FEES AND OTHER COSTS AND EXPENSES INCURRED IN CONNECTION WITHTHEREWITH OR THE DEFENSE THEREOF, EXCEPT TO THE EXTENT CAUSED BY (AND INCLUDING) ANY SOLE OR OTHERWISE RELATING TOCONCURRENT NEGLIGENCE OR STRICT LIABILITY OF SELLER. THE INDEMNITY PROVIDED FOR IN THIS SECTION 16.7 SHALL NOT BE INTERPRETED TO COVER OR APPLY TO CLAIMS FOR PERSONAL INJURY, ILLNESS, DISEASE OR WRONGFUL DEATH WHICH ARISE OR ARE ASSERTED PRIOR TO THE PRESENCE OF NORM, ASBESTOS EFFECTIVE DATE AND TIME OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR ARE ASSERTED AFTER THE EFFECTIVE TIME, DATE AND REGARDLESS TIME AND ARE ATTRIBUTABLE TO THE OWNERSHIP AND OPERATION OF THE SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF ASSETS BY SELLER OR ANY OTHER PERSON OR PARTYPRIOR TO THE EFFECTIVE DATE AND TIME.

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT SOME EQUIPMENT LOCATED ON THE ASSETS MAY IT HAS BEEN INFORMED THAT OIL AND GAS PRODUCING FORMATIONS CAN CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIAL (“NORM”)MATERIAL. SCALE FORMATION OR SLUDGE DEPOSITS CAN CONCENTRATE LOW LEVELS OF NORM ON EQUIPMENT, MATERIALS AND OTHER PROPERTY. SOME OR ALL OF THE EQUIPMENT, MATERIALS AND OTHER PROPERTY SUBJECT TO THIS AGREEMENT MAY HAVE LEVELS OF NORM ABOVE BACKGROUND LEVELS. A HEALTH HAZARD MAY EXIST IN CONNECTION WITH THIS REGARDEQUIPMENT, MATERIALS AND OTHER PROPERTY BY REASON THEREOF. THEREFORE, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR ATTACH ITSELF NEED TO THE INSIDE OF FOLLOW SAFETY PROCEDURES WHEN HANDLING THIS EQUIPMENT, MATERIALS AND EQUIPMENT AS SCALE OR IN OTHER FORMSPROPERTY. Section 10.5 Waiver of Consequential and Punitive Damages. NEITHER BUYER NOR SELLER SHALL BE ENTITLED TO RECOVER FROM THE OTHER, RESPECTIVELY, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY EACH PARTY RELEASES THE ASSETS MAY CONTAIN NORM AND THAT NORM-CONTAINING MATERIALS MAY BE BURIED OR MAY HAVE BEEN OTHERWISE DISPOSED OF ON THE LAND AND PROPERTIES COMPRISING OR SITUATED ON THE ASSETS. BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND DISPOSAL OF ASBESTOS AND NORM FROM THE ASSETS WHERE THEY MAY BE FOUND. BUYER SHALLOTHER PARTY FROM, BY CLOSING ITS PURCHASE OF THE ASSETSANY LOSSES, ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDSCOSTS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS AND OTHER HAZARDOUS SUBSTANCES AS A RESULT OF THESE OPERATIONS. THE GENERATION, FORMATIONEXPENSES, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN OR ON THE ASSETS SHALL BE THE SOLE RESPONSIBILITY OF BUYER, AND BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY DAMAGES ARISING FROM, OUT OF UNDER THIS AGREEMENT OR IN CONNECTION WITHWITH OR WITH RESPECT TO THE TRANSACTIONS CONTEMPLATED IN THIS AGREEMENT ANY AMOUNT IN EXCESS OF THE ACTUAL COMPENSATORY DAMAGES, OR OTHERWISE RELATING TOCOURT COSTS AND REASONABLE ATTORNEYS FEES, THE PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUFFERED BY SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR AFTER THE EFFECTIVE TIMEPARTY. BUYER AND SELLER BOTH WAIVE, AND REGARDLESS OF THE SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF SELLER OR ANY OTHER PERSON OR PARTY.RELEASE

NORM. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, BUYER ACKNOWLEDGES THAT SOME THE ASSETS HAVE BEEN USED FOR EXPLORATION, DEVELOPMENT AND PRODUCTION OF HYDROCARBONS AND WATER AND THAT THERE MAY BE PETROLEUM, PRODUCED WATER, WASTES OR OTHER MATERIALS LOCATED ON, UNDER OR ASSOCIATED WITH THE ASSETS. EQUIPMENT LOCATED ON AND SITES INCLUDED IN THE ASSETS MAY CONTAIN ASBESTOS AND/OR NATURALLY OCCURRING RADIOACTIVE MATERIAL (“NORM”). IN THIS REGARD, BUYER EXPRESSLY UNDERSTANDS THAT NORM MAY AFFIX OR ATTACH ITSELF TO THE INSIDE OF ▇▇▇▇▇, MATERIALS AND EQUIPMENT AS SCALE SCALE, OR IN OTHER FORMS; THE ▇▇▇▇▇, AND THAT MATERIALS AND EQUIPMENT LOCATED ON LANDS COVERED BY OR INCLUDED IN THE ASSETS MAY CONTAIN NORM AND THAT NORM-OTHER WASTES OR HAZARDOUS SUBSTANCES; AND NORM CONTAINING MATERIALS MAY BE BURIED MATERIAL AND OTHER WASTES OR HAZARDOUS SUBSTANCES MAY HAVE BEEN BURIED, COME IN CONTACT WITH THE SOIL OR OTHERWISE BEEN DISPOSED OF ON THE LAND AND PROPERTIES COMPRISING OR SITUATED ON AROUND THE ASSETS. BUYER ALSO EXPRESSLY UNDERSTANDS THAT SPECIAL PROCEDURES MAY BE REQUIRED FOR THE REMOVAL AND REMEDIATION, REMOVAL, TRANSPORTATION OR DISPOSAL OF WASTES, ASBESTOS OR HAZARDOUS SUBSTANCES, INCLUDING HYDROGEN SULFIDE GAS AND NORM FROM THE ASSETS. FROM AND AFTER THE CLOSING, BUYER SHALL ASSUME RESPONSIBILITY FOR THE CONTROL, STORAGE, HANDLING, TRANSPORTING AND DISPOSING OF OR DISCHARGE OF ALL MATERIALS, SUBSTANCES AND WASTES FROM THE ASSETS WHERE THEY MAY BE FOUND. BUYER SHALL(INCLUDING PRODUCED WATER, BY CLOSING ITS PURCHASE OF THE ASSETSHYDROGEN SULFIDE GAS, ASSUME ALL LIABILITY WHEN SUCH ACTIVITIES ARE PERFORMED. IT IS EXPRESSLY RECOGNIZED BY BUYER THAT THE LANDSDRILLING FLUIDS, ALONG WITH THE FACILITIES AND EQUIPMENT LOCATED THEREON MAY CONTAIN NORM, ASBESTOS NORM AND OTHER HAZARDOUS SUBSTANCES AS A RESULT OF THESE OPERATIONS. THE GENERATIONWASTES), FORMATION, OR PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES IN OR ON THE ASSETS SHALL BE THE SOLE RESPONSIBILITY OF BUYER, AND BUYER AND ALL FUTURE ASSIGNEES AND SUCCESSORS OF BUYER SHALL DEFEND, INDEMNIFY AND HOLD SELLER PARTIES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS IN ANY WAY ARISING FROM, OUT OF OR IN CONNECTION WITH, OR OTHERWISE RELATING TO, THE PRESENCE OF NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCES, WITHOUT REGARD TO WHETHER SUCH NORM, ASBESTOS OR OTHER HAZARDOUS SUBSTANCE WAS IN PLACE BEFORE OR PRESENT AFTER THE EFFECTIVE TIMEDATE, IN A SAFE AND REGARDLESS OF THE SOLE, JOINT, CONCURRENT OR COMPARATIVE NEGLIGENCE (BUT NOT SELLER’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT), BREACH OF CONTRACT, BREACH OF WARRANTY, STRICT LIABILITY, REGULATORY LIABILITY, STATUTORY LIABILITY OR OTHER FAULT OR RESPONSIBILITY OF SELLER OR ANY OTHER PERSON OR PARTYPRUDENT MANNER AND IN ACCORDANCE WITH ALL APPLICABLE ENVIRONMENTAL LAWS.