Successor Operator. Sellers will use commercially reasonable efforts to support Buyer’s efforts to be appointed or to have a designee appointed as the successor operator of those Properties that any Seller currently operates. Notwithstanding anything to the contrary in this Agreement, Sellers make no representations or warranties to Buyer as to the transferability of operatorship of any Properties which a Seller currently operates. Rights and obligations associated with operatorship of the Properties are governed by operating agreements or similar agreements and, to the extent such agreements are Assigned Contracts, will be determined in accordance with the terms of such agreements.
Appears in 2 contracts
Sources: Asset Purchase Agreement, Asset Purchase Agreement (Rex Energy Corp)
Successor Operator. Sellers will Seller shall use its commercially reasonable efforts to support Buyer’s ▇▇▇▇▇'s efforts to be appointed or to have a designee appointed as the successor operator of those Properties Purchased Assets that any Seller currently operates. Notwithstanding anything to the contrary in this Agreementforegoing, Sellers make Seller makes no representations or warranties to Buyer as to the transferability of operatorship of any Properties which a Purchased Assets that Seller currently operates. Rights and obligations associated with operatorship of the Properties Purchased Assets are governed by operating agreements or similar agreements and, to the extent such agreements are Assigned Contracts, and will be determined in accordance with the terms of such agreements.
Appears in 2 contracts
Successor Operator. Sellers will shall use their commercially reasonable efforts to support Buyer’s efforts to be appointed or to have a designee appointed as the successor operator of those Properties that any Seller currently operates. Notwithstanding anything to the contrary in this Agreementforegoing, Sellers make makes no representations or warranties to Buyer as to the transferability of operatorship of any Properties which a any Seller currently operates. Rights and obligations associated with operatorship of the Properties are governed by operating agreements or similar agreements and, to the extent such agreements are Assigned Contracts, and will be determined in accordance with the terms of such agreements.
Appears in 1 contract
Successor Operator. Sellers will use commercially reasonable efforts While Buyer may represent that it desires to support Buyer’s efforts to be appointed succeed Seller as operator of the Assets or to have a designee appointed as the portions thereof which Seller may presently operate, Buyer acknowledges and agrees that Seller cannot and does not covenant or warrant that Buyer shall become successor operator of those Properties same, since such Assets are covered by agreements which control the appointment or election of a successor operator. Seller shall prepare and execute such regulatory forms that any Seller currently operates. Notwithstanding anything may be required at Closing to the contrary effect a change of operator in this Agreement, Sellers make no representations or warranties to favor of Buyer as to the transferability of operatorship of any Properties which a Seller currently operates. Rights and obligations associated with operatorship of the Properties are governed by operating unless said agreements or similar agreements and, to the extent such agreements are Assigned Contracts, will be determined in accordance with the terms of such agreementsstipulate an alternative methodology.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Houston Exploration Co)