Interdependent obligations Sample Clauses

Interdependent obligations. The parties' obligations at Completion are interdependent and Completion will not occur until the parties have complied with all of their obligations set out in this clause 4 and, once all such obligations have been complied with, Completion will be deemed to have occurred.
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Interdependent obligations. The purchase and issuance of the Purchase Shares and the purchase and sale of the Leases are each part of a single Transaction with each part contingent on the successful closing of the other. Neither party will be required to close on less than the entire Transaction contemplated hereby. Chesapeake and Gastar each acknowledge and agree that: (i) it is a condition precedent to Gastar’s obligation to consummate the Transaction that Chesapeake acquires both the Purchase Shares and the Leases; and (ii) it is a condition precedent to Chesapeake’s obligation to consummate the Transaction that Gastar sell to Chesapeake both the Purchase Shares and the Leases. The Closing shall occur at a mutually agreeable location on the date that is two (2) local business days after the expiration of the ten (10) day right of first refusal and/or preferential right held by third parties under that certain Operating Agreement dated July 7, 2000 applicable to the Leases. In the event a right of first refusal and/or preferential right is exercised with respect to the entire Transaction, this LOI will not be deemed terminated unless the party exercising such right consummates the entire Transaction within two (2) local business days after the end of the ten (10) day preferential right period. The undersigned are bound by the terms of this LOI immediately upon their execution of this document. Sincerely, GASTAR EXPLORATION LTD. /s/ J. XXXXXXX XXXXXX J. Xxxxxxx Xxxxxx President and Chief Executive Officer GASTAR EXPLORATION TEXAS LP, By its General Partner, Gastar Exploration Texas LLC /s/ J. XXXXXXX XXXXXX J. Xxxxxxx Xxxxxx President Agreed to and accepted this 27th day of April, 2007. CHESAPEAKE ENERGY CORPORATION By: /s/ XXXXXXX X. XXXXXXXX Xxxxxxx X. Xxxxxxxx, Executive Vice President CHESAPEAKE EXPLORATION LIMITED PARTNERSHIP By: Chesapeake Operating, Inc., General Partner By: /s/ XXXXXXX X. XXXXXXXX Xxxxxxx X. Xxxxxxxx, Executive Vice President
Sample 1

Related to Interdependent obligations

  • Independent Obligations The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer with respect to the Capital Securities and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections (a) through (g), inclusive, of Section 4.3 hereof.

  • Client Obligations 3.1 The Client shall:

  • Independent Obligation The obligations of each Guarantor hereunder are independent of the obligations of any other Guarantor or the Borrower, and a separate action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other Guarantor or the Borrower and whether or not any other Guarantor or the Borrower is joined in any such action or actions.

  • Joint Obligations A. The University and the student share the responsibility for ensuring the quality of life within the residence halls, their maintenance, furnishings and facilities, and for a physical environment secure from fire and other hazards. The University will work with students to promote effective security of persons and property in the residence halls.

  • Development Obligations 1. The College supports the development, production, and dissemination of copyrightable, trademarkable, patentable, and other intellectual properties by its employees.

  • Exit Obligations Upon (i) voluntary or involuntary termination of Employee’s employment or (ii) the Company’s request at any time during Employee’s employment, Employee shall (a) provide or return to the Company any and all Company property, including keys, key cards, access cards, identification cards, security devices, Company credit cards, network access devices, computers, cell phones, smartphones, equipment, manuals, reports, files, books, compilations, work product, e-mail messages, recordings, tapes, disks, thumb drives or other removable information storage devices, hard drives and data and all Company documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential Information or Work Product, that are in the possession or control of Employee, whether they were provided to Employee by the Company or any of its business associates or created by Employee in connection with Employee’s employment by the Company; and (b) delete or destroy all copies of any such documents and materials following return to the Company that remain in Employee’s possession or control, including those stored on any non-Company devices, networks, storage locations and media in Employee’s possession or control.

  • Partnership Obligations (a) Except as provided in this Section 6.05 and elsewhere in this Agreement (including the provisions of Articles V and VI hereof regarding distributions, payments and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

  • Joint Obligation If there be more than one Tenant, the obligations hereunder imposed shall be joint and several.

  • Nature of Reimbursement Obligations The Borrower and, to the extent set forth in Section 2.6.1, each Lender with a Revolving Loan Commitment, shall assume all risks of the acts, omissions or misuse of any Letter of Credit by the beneficiary thereof. The Issuer (except to the extent of its own gross negligence or willful misconduct) shall not be responsible for:

  • Debt; Contingent Obligations No Borrower will, or will permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Debt. No Borrower will, or will permit any Subsidiary to, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations.

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