Common use of PARTNER STATUS Clause in Contracts

PARTNER STATUS. It is the desire and intention of the parties that Buyer become, and that the Asset Sale Company withdraw and be released as, a full partner in DTA. To that end, each of PCC and Buyer will use its commercially reasonable efforts to cause the other DTA Partners to execute such documents as may be necessary to (a) admit Buyer as a full partner in DTA, (b) cause the withdrawal of the Asset Sale Company as a full partner in DTA and release the Asset Sale Company from all of its Liabilities under the Consortium Documents (other than any Retained Liabilities), and (c) amend the Transportation Agreement to evidence the foregoing, provided that all such documents and amendments shall provide that the Retained Contract Rights and Retained Liabilities shall remain with the Asset Sale Company.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Alpha Natural Resources, Inc.), Asset Purchase Agreement (Pittston Co)