Common use of Qualified Owner Clause in Contracts

Qualified Owner. Buyer: (i) is qualified to own federal and state oil, gas and mineral leases; and (ii) shall comply with all necessary governmental bonding requirements arising from its ownership of the Properties. The consummation of the transactions contemplated hereby will not cause Buyer to be disqualified as an owner of such leases or to exceed any acreage limitation imposed by any statute, rule, regulation or order of governmental authority.

Qualified Owner. Buyer: Buyer (i) is qualified to own federal and state oil, gas and mineral leases; leases in all jurisdictions where any of the Subject Interests are located and (ii) shall comply has complied with all any necessary governmental bonding requirements arising from its ownership of the PropertiesAssets. The consummation of the transactions contemplated hereby will not cause Buyer to be disqualified as an owner of such leases or to exceed any acreage limitation imposed by any statute, rule, regulation or order of governmental authorityGovernmental Authority.