POST-EFFECTIVE DATE COMMITMENT Clause Samples

POST-EFFECTIVE DATE COMMITMENT. For purposes of this Agreement, a Post-Effective Date Commitment is defined as an instance where (i) Producer acquires well(s), oil, gas and mineral leases, gas reserves, or producing properties however characterized ("Subsequently Acquired Properties") subsequent to the Effective Date; and (ii) contractual arrangements in place at the time of Producer's acquisition prohibit Producer from selling all or a portion of the gas produced from the Subsequently Acquired Property to Dynegy under this Agreement. Gas subject to a Post-Effective Date Commitment shall become Committed Gas at such time as the gas may be sold and delivered to Dynegy as a result of a termination or cancellation of the Post-Effective Date Commitment or other release of the gas from the commitment. Producer agrees to exercise reasonable efforts to terminate any Post-Effective Date Commitment at the earliest opportunity in accordance with the terms and conditions of the commitment if, in the reasonable judgment of Producer, such termination will not result in adverse economic consequences to Producer.