Common use of Prior Use and Condition Clause in Contracts

Prior Use and Condition. Buyer acknowledges that the Assets have been utilized for the purpose of exploration, development, and production of oil and gas. Buyer also acknowledges that crude oil, natural gas, natural gas liquids, produced water, and other wastes associated with oil and gas production and exploration operations, may have been spilled, released, or disposed of on-site by, among other ways, placement in pits, burial, land farming, land spreading and underground injection, into or onto the ground around the Xxxxx. In addition, Buyer acknowledges that some oilfield production equipment may contain naturally-occurring radioactive material (hereinafter referred to as “NORM”). Buyer acknowledges and agrees that, prior to the Effective Date of this Agreement, Buyer has been given adequate and timely access to and has access to the Assets, Seller’s records relating to the Assets, and public records regarding the Assets. Buyer hereby agrees to accept responsibility and liability for the past, present, and future condition of the Assets as the same relates to NORM.

Prior Use and Condition. Buyer acknowledges that the Assets have been utilized for the purpose of exploration, development, and production of oil and gas. Buyer also acknowledges that crude oil, natural gas, natural gas liquids, produced water, and other wastes associated with oil and gas production and exploration operations, may have been spilled, released, or disposed of on-site by, among other ways, placement in pits, burial, land farming, land spreading and underground injection, into or onto the ground around the XxxxxWexxx. In addition, Buyer acknowledges that some oilfield production equipment may contain naturally-occurring radioactive material (hereinafter referred to as “NORM”). Buyer acknowledges and agrees that, prior to the Effective Date of this Agreement, Buyer has been given adequate and timely access to and has access to the Assets, Seller’s records relating to the Assets, and public records regarding the Assets. Buyer hereby agrees to accept responsibility and liability for the past, present, and future condition of the Assets as the same relates to NORM.