Major Properties definition
Examples of Major Properties in a sentence
The cost of providing security at such Major Properties shall be paid (or reimbursed to Tenant) by Landlord as an Operating Expense, except that if Tenant desires security services in excess of those commensurate with the prevailing standard as provided above, Tenant shall bear the cost for such additional security as Above Standard Services Rent.
To the Company’s Knowledge, the Company is not obligated, under a take-or-pay or similar arrangement, or by virtue of an election to non-consent or to not participate in a past or current operation on the Major Properties pursuant to the applicable operating agreements, to produce Hydrocarbons, or allow Hydrocarbons to be produced, without receiving full payment at the time of delivery in an amount that corresponds to the Net Revenue Interest in the Hydrocarbons described on Exhibit A.
To the Company’s Knowledge, there is no actual or threatened taking (whether permanent, temporary, whole, or partial) of any part of the Major Properties or the Miscellaneous Interests by reason of condemnation or the threat of condemnation.
To the Company’s Knowledge, there are no outstanding authorizations for expenditures or any written commitments or proposals to conduct operations on the Major Properties which are required to be approved by non-operators under the terms of the applicable operating agreement.
Notwithstanding the foregoing, in the event that Purchaser (or its Affiliate) has the right to terminate this Agreement with respect to one or more of the Properties identified on SCHEDULE 7.12 under the heading "Associated Properties," Purchaser shall not have the right merely because it is related to one or more of the Properties identified under the heading "Major Properties" to terminate the Agreement with respect to such related Property or Properties.
To the extent that the cost to cure any Title Defect will result in the curing of all or a part of one or more other Title Defects, such cost of cure shall be allocated for purposes of Section 11.2(b)(vi) among the Major Properties so affected on a fair and reasonable basis.
To the Company’s Knowledge: (i) the Producing ▇▇▇▇▇ operated by the Company have been drilled, completed, operated, developed and produced in material compliance with all applicable judgments, orders, laws, rules and regulations; and (ii) all necessary certificates, consents, permits, licenses and other governmental authorizations affecting the Major Properties have been obtained and are in force or the failure to obtain or to be in force would not constitute a Material Adverse Effect.
Section 10.3(c) Major Properties.....................................
To the Knowledge of the Company, all material proceeds from the sale of Hydrocarbons produced from the Major Properties are as of the date hereof being paid to the Company or its Subsidiaries and no portion of such proceeds is currently being held in suspense by any purchaser thereof or any other party by whom proceeds are paid.
To the Company’s Knowledge, there are no unplugged, temporarily abandoned, or temporarily shut-in ▇▇▇▇▇ situated on the Major Properties or the Miscellaneous Interests that would reasonably be expected to constitute a Material Adverse Effect.