Examples of Existing JOA in a sentence
Eternal and Rover shall continue to own and enjoy their Current JOA Rights and, from and after the Effective Date, the Existing JOA shall be the only agreement remaining between such parties in respect of the Prospect.
Step 3: New JOA to Replace the Existing JOA – Fall 2016Once CCAs have signed-off on the Framework, we will draft a fair and reasonable JOA based on the principles agreed to in the Framework.
If there is no Existing JOA on a particular Property, lease or Well, then the joint operating agreement (the “New JOA” collectively with the Existing JOA, the “JOA”) in Exhibit C shall apply, which shall be in an industry standard form (e.g., AAP’, Form 610 from 1989).
There are no gas contracts, gas balancing or similar arrangements, agreements for the transportation, processing or disposal of hydrocarbons, joint operating agreements (other than the existing joint operating agreement between Buyer and Seller in respect of the Leases dated for reference October 26, 2006 and referred to herein as the "Existing JOA") or contract operating agreements affecting the Assets.
CPC is the record and beneficial owner of 100% of the CPC Joint Venture Interest, free and clear of all Liens (subject to the Assumed Liabilities and the provisions contained in the Existing JOA, for the period prior to Closing, and the provisions contained in the Amended JOA, for the period subsequent to Closing) and options to purchase or any other right created by CPC (or its predecessors-in-interest) in favor of a third party (excluding any rights created under the Existing JOA).
Upon execution and delivery of the agreement amending the Existing JOA, Exhibit “A” and Exhibit “A-4” attached hereto (minus the Leases) shall replace and supersede the original Exhibits “A” and “A-4” attached to the Existing JOA and there shall be no further area of mutual interest as originally provided in the Existing JOA.
CPC has good and marketable title to all of the CPC Charleston Assets, free and clear of all Liens (subject to the Assumed Liabilities and the provisions contained in the Existing JOA, for the period prior to Closing, and the provisions contained in the Amended JOA, for the period subsequent to Closing).
There are no consents required or rights of first refusal or similar rights triggered as a result of the contemplated sale of the Assets other than Buyer's consent as provided in the Existing JOA (as defined below).
This Agreement supersedes all prior agreements and understandings between the Parties with respect to such subject matter, except to the extent any provisions of the Existing JOA or Letter of Intent are referred to herein, such provisions shall be deemed restated herein and survive to the limited extent of giving effect to the provisions hereof.
On Closing, the parties shall enter into an agreement amending the Existing JOA by replacing Exhibit “A” and Exhibit “A-4” attached to and forming part of the Existing JOA with the new exhibits attached to this Agreement and marked as Exhibit “A” and Exhibit “A-4” minus the Leases (the foregoing to set out the legal descriptions and other information respecting the lands which will be subject to the Existing JOA post-Closing).