Rights Termination. Upon receipt by Chevron of the Ridgewood release notification, the rights and options granted Ridgewood under this Agreement as to the released Leases and Contract Acreage shall terminate. Notwithstanding anything herein to the contrary, in no event shall the notification of a release as described in this Article 9 relieve Ridgewood of any financial obligation that has been incurred or accrued pursuant to this Agreement or any Operating Agreement.
Appears in 2 contracts
Sources: Exploration Participation Agreement (Ridgewood Energy Q Fund LLC), Exploration Participation Agreement (Ridgewood Energy Q Fund LLC)