Common use of Seismic Data Clause in Contracts

Seismic Data. (a) Except as provided in Schedule 2.1(13)(a), the Corporation owns a 100% interest in the three dimensional Seismic Data and no third party has any ownership, revenue or other interest in the three dimensional Seismic Data. (b) Except as provided in Schedule 2.1(13)(b), the Vendor has not licensed or otherwise given the Seismic Data to any third party, other than seismic data licenses entered into in the ordinary course of business and on normal industry terms (the “Seismic Data Licenses”). (c) The Seismic Data Licenses are in full force and effect, and there are no defaults by the Vendor or, to the best of knowledge of the Vendor, any licensee under the Seismic Data Licenses. (d) Except as provided in Schedule 2.1(13)(d), the Seismic Data is not under any exclusivity period or other restriction on marketing or sale. (e) The Seismic Data does not, to the best of the knowledge of the Vendor, infringe upon the intellectual property rights of any third party. (f) All Joint Venture Agreements are in full force and effect, and there are no defaults by the Vendor or any other party to such joint venture and other agreements.