CWEI definition
Examples of CWEI in a sentence
Each Participant acknowledges that CWEI Counsel does not represent such Participant, and that CWEI Counsel shall owe no duties directly to such Participant.
Except for CWEI, each Party irrevocably waives any right it may have to maintain any action for partition of the property of the Tax Partnership.
Each Participant further acknowledges that, whether or not CWEI Counsel has in the past represented or is currently representing such Participant with respect to other matters, CWEI Counsel has not advised or represented the interests of any Participant in the negotiation, preparation, execution, delivery and performance of this Agreement.
The purpose for which this Agreement is being entered is to further align the interests of the Participants with those of CWEI by permitting the Participants to participate with CWEI in the CWEI oil and gas production (if any) developed, directly or indirectly, by CWEI and the Participants.
CWEI shall hold such Interests attributable to the Non-Contributing Party until such time as CWEI, as the holder of such Interests, shall have received distributions pursuant to Section 5.05 in an aggregate amount equal to 200% of the additional funds paid by CWEI pursuant to this Section 5.04(c), whereupon CWEI, without further action on its part, shall be deemed to have re-assigned the economic rights to such Interests to the Non-Contributing Party.
CWEI shall use its reasonable efforts to enter into, and act in accordance with the provisions of, all applicable Operating Agreements relating to any Lease or Well.
Accordingly, it is agreed that, in addition to any other remedy to which they may be entitled, at law or in equity, CWEI and any nondefaulting Participant shall be entitled to injunctive relief to prevent breaches of the provisions of this ARTICLE IV and specifically to enforce the terms and provisions hereof in any action instituted in any court of competent jurisdiction.
All costs and expenses, including Acquisition Costs and Well Costs, relating to the Designated Property shall be shared as follows: (i) 100% to CWEI before Payout and (ii) 1% to CWEI and 99% to the Participants after Payout, apportioned among the Participants in proportion to the percentages listed on Exhibit A attached hereto.
CWEI may use the power of attorney set forth in Section 8.13 to reflect any assignment pursuant to this Section 5.04(c).
Following termination of this Agreement, each Party agrees to become a party to all Operating Agreements in which CWEI serves as operator, and further agrees to use its reasonable efforts to become a party to all other applicable Operating Agreements.