Common use of Royalties, Etc Clause in Contracts

Royalties, Etc. Except (A) for the Burdens under dispute as set forth on Schedule 3.9, (B) as would not have a Material Adverse Effect or (C) for such items that are being held in suspense as permitted pursuant to applicable Law, SM Energy has paid, and SM Energy has not received written notice from any third-party operator that such operator has not paid, all Burdens due by SM Energy with respect the Assets or, if SM Energy is responsible for paying such Burdens but has not paid any such Burdens, SM Energy is contesting such unpaid Burdens in good faith.

Appears in 3 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (SM Energy Co), Purchase and Sale Agreement (SM Energy Co)