Description of Obligations. Without limiting ASSIGNEE’s rights to indemnity under Article 8, upon and after Closing, ASSIGNEE assumes full responsibility and liability for the following occurrences, events, conditions, and activities on or related to the Property (the “Environmental Obligations”), regardless of whether arising from the ownership or operation of the Property before, on or after the Effective Date, and regardless of whether resulting from any acts or omissions of ASSIGNOR (INCLUDING THOSE ARISING FROM ASSIGNOR’S SOLE, JOINT, CONCURRENT, OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired:
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Denbury Resources Inc)
Description of Obligations. Without limiting ASSIGNEE’s rights to indemnity under Article 88 and except as provided in Section 7.3.2, upon and after Closing, ASSIGNEE assumes full responsibility and liability for the following occurrences, events, conditions, plugging and activities on or abandonment obligations related to the Property (the “Environmental Plugging and Abandonment Obligations”), regardless of whether arising from they are attributable to the ownership or operation of the Property before, on or after the Effective Date, Date and regardless of whether resulting from any acts or omissions of ASSIGNOR (INCLUDING THOSE ARISING FROM ASSIGNOR’S SOLE, JOINT, CONCURRENT, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT) or the condition of the Property when acquired:
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Denbury Resources Inc)
