Common use of Limitations on the Operational Obligations and Liabilities of Seller Clause in Contracts

Limitations on the Operational Obligations and Liabilities of Seller. (a) From and after the Execution Date and until the Closing, and subject to the provisions of applicable operating agreements and other similar agreements, Seller shall use commercially reasonable efforts to otherwise cause any Third Party operator of the Assets to operate and administer the Assets in a manner consistent with its past practices and as a reasonably prudent operator, and shall carry on its business with respect to the Assets in substantially the same manner as before execution of this Agreement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Carbon Natural Gas Co), Purchase and Sale Agreement (Carbon Energy Corp)

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Limitations on the Operational Obligations and Liabilities of Seller. (a) From and after the Execution Date date of execution of this Agreement and until the Closing, and subject to the provisions of applicable operating agreements and other similar agreements, Seller shall use commercially its reasonable efforts to otherwise operate the Assets and use its reasonable efforts to cause any Third Party operator of the Assets other operators to operate and administer the Assets in a manner consistent with its past practices and as a reasonably prudent operator, and shall carry on its business with respect to the Assets in substantially the same manner as before execution of this Agreement.

Appears in 1 contract

Samples: Escrow Agreement (Ivanhoe Energy Inc)

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Limitations on the Operational Obligations and Liabilities of Seller. (a) From and after the Execution Date date of execution of this Agreement and until the Closing, and subject to the provisions of applicable operating agreements and other similar agreements, Seller shall use commercially its reasonable efforts to otherwise operate the Assets and use its reasonable efforts to cause any Third Party operator of the Assets other operators to operate and administer the Assets in a manner the ordinary course of business consistent with its past practices and as a reasonably prudent operator, and shall carry on its business with respect to the Assets in substantially the same manner as before execution of this Agreement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Callon Petroleum Co)

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