Common use of Like-Kind Exchanges Clause in Contracts

Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Denbury Resources Inc), Certain Purchase and Sale Agreement (Bargo Energy Co), Purchase and Sale Agreement (Natural Gas Systems Inc/New)

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Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1.1031(k)-l(g)(4)(iii) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 2 contracts

Samples: Purchase and Sale Agreement Ii (Natural Gas Systems Inc/New), Purchase and Sale Agreement I (Natural Gas Systems Inc/New)

Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1.1031(k)-I(g)(4)(v) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Castle Energy Corp)

Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1.1031 (k)-I(g)(4)(v) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Parallel Petroleum Corp)

Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its a Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1.1031(k)-1(g)(4)(iii) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Prima Energy Corp)

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Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1.103(k)-1(g)(4)(v) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and arid Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this the Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Whittier Energy Corp)

Like-Kind Exchanges. Each party consents to the other party's assignment of its rights and obligations under this Agreement to its Qualified Intermediary (as that term is defined in Section 1.1031(k)-l(g)(4)(v1. 1031 (k)-I(g)(4)(v) of the Treasury Regulations) in connection with effectuation of a like-kind exchange. However, Seller and Buyer acknowledge and agree that any assignment of this Agreement to a Qualified Intermediary does not release either party from any of their respective liabilities and obligations to each other under this Agreement. Each party agrees to cooperate with the other to attempt to structure the transaction as a like-kind exchange.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Parallel Petroleum Corp)

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