Ordering Rules. Each of the Parties to whom a contribution has been made pursuant to Sections 2.2 through 2.5 hereby agrees to and does, successively, assume the obligation of Operating LLC to reimburse the Preformation Expenditures of APC. Each of the transactions described in Sections 2.1 through 2.3 shall be deemed to have occurred successively, in the order stated. The transactions described in Sections 2.4 through 2.6 shall be deemed to have occurred simultaneously, immediately following consummation of the transactions described in Sections 2.1 through 2.3.
Appears in 2 contracts
Sources: Contribution, Conveyance and Assumption Agreement (Abraxas Energy Partners LP), Contribution, Conveyance and Assumption Agreement (Abraxas Petroleum Corp)