WMC Sample Clauses
The WMC clause, which typically stands for "Warranty, Maintenance, and Compliance," outlines the obligations of a party to ensure that products or services meet specified standards, are properly maintained, and comply with relevant laws or regulations. In practice, this clause may require the seller to guarantee the quality and performance of goods for a certain period, provide ongoing maintenance or support, and ensure all activities adhere to applicable legal requirements. Its core function is to allocate responsibility for product quality, ongoing upkeep, and legal compliance, thereby protecting the buyer from defects, service lapses, or regulatory issues.
WMC. No Obligor shall (i) transfer any assets or make any loans to, or Investments in WMC, (ii) assume, become obligated for or satisfy any obligations of WMC, (ii) resume any of the operations or business of WMC or (iv) use the names or other assets of WMC in its business or operations except for payment of reasonable expense, including without limitation legal and accounting fees, in connection with the winding up or dissolution of WMC.
WMC. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇ & Associates (“WMC”), a reserve engineer that prepared reserve reports of the estimated net proved oil and natural gas reserves held by the Company and the Subsidiaries as of January 1, 2020 with respect to certain oil and gas properties located in West Texas, state and federal waters of the Gulf of Mexico and onshore Mississippi (the “WMC Properties”), was, as of the date of preparation of such reserve reports, and is, as of the date hereof, an independent petroleum engineer with respect to the Company. The information contained or incorporated by reference in the most recent Prospectus regarding estimated proved reserves of the Company and the Subsidiaries as of January 1, 2020 with respect to the WMC Properties is based upon the reserve reports prepared by WMC. The information provided to WMC by the Company and the Subsidiaries, including, without limitation, information as to: production, costs of operation and development, current prices for production, agreements relating to current and future operations and sales of production, was true and correct in all material respects on the dates the reports were made. Such information was provided to WMC in accordance with all customary industry practices.