Common use of Restrictions on Transfers and Encumbrances Clause in Contracts

Restrictions on Transfers and Encumbrances. Restrictions on Transfers and Encumbrances 12.1 Except as set forth in §12.2 to §12.4 hereof, no party will sell, transfer, assign or convey or grant any Encumbrance over all or any part of its interest in the Property or this Agreement or any of its rights, benefits and privileges hereunder (including any Production Royalty Interest) (collectively for purposes of this Part 12 “an interest in the Property”) without the prior written consent of the other party thereto, which consent will not be unreasonably withheld, and any attempt to sell, transfer, assign or convey or to grant any such Encumbrance over all or any part of its interest in the Property without such consent will be of no effect.

Restrictions on Transfers and Encumbrances. Restrictions on Transfers and Encumbrances 12.1 13.1 Except as set forth in §12.2 13.2 to §12.4 13.4 hereof, no party will sell, transfer, assign or convey or grant any Encumbrance over all or any part of its interest in the Property or this Agreement or any of its rights, benefits and privileges hereunder (including any Production Royalty Interest) (collectively for purposes of this Part 12 13 “an interest in the Property”) without the prior written consent of the other party thereto, which consent will not be unreasonably withheld, and any attempt to sell, transfer, assign or convey or to grant any such Encumbrance over all or any part of its interest in the Property without such consent will be of no effect.