Common use of Rights and Options Clause in Contracts

Rights and Options. Except as specifically set forth in this Agreement or on Schedule 5.15, there are no leases, licenses, options, rights-of-first-refusal or other agreements (whether oral or written) (i) granting any party the right to occupy, use, possess, lease or purchase any of the Assets or any portion thereof; (ii) requiring any payment or reimbursement by the owner of any of the Assets based upon the development of any such Asset or infrastructure related thereto; or (iii) pertaining to or obligating the owner of any of the Assets to construct infrastructure or otherwise pertaining to the development of any such Asset.

Appears in 3 contracts

Sources: Asset Purchase Agreement, Asset Purchase Agreement, Asset Purchase Agreement (Lehigh Gas Partners LP)