Rig Construction. The Company and its subsidiaries agree not to enter into any venture relating to the manufacture, production or construction of any drilling rigs for the use of third parties for the drilling of coalbed methane gas in China. The Purchasers and its subsidiaries agree not to enter into commercial joint venture relating to the construction of any drilling rigs for the use of third parties for the drilling of coalbed methane gas in China. Nothing contained in this Article 6 shall be deemed to prohibit or restrict the Company from negotiating, discussing or entering into a lease, rental or service arrangement or similar undertaking with any third party relating provision and operation of any rig for the drilling of coalbed methane gas with respect to the Subject Acreage.
Appears in 2 contracts
Sources: Stock Subscription Agreement (Far East Energy Corp), Stock Subscription Agreement (Persistency)