Operation of the Assets. (a) From and after the date of execution of this Agreement, and subject to the provisions of applicable operating and other agreements, Seller shall (i) during the period prior to the Closing, operate and administer the Assets in a manner consistent with its past practices, (ii) make payment of all costs and expenses attributable to the ownership or operation of the Assets and relating to the period prior to the transfer of operations to Buyer, and shall carry on its business with respect to the Assets in substantially the same manner as before execution of this Agreement, (iii) not, without Buyer’s express written consent, commit to participate in the drilling of any well, or make or enter into any other commitments reasonably anticipated to require future capital expenditures by Buyer in excess of $100,000 net to Seller’s interest for each proposed operation, or terminate, materially amend, or extend any Contracts affecting the Assets, or enter into or commit to enter into any material new contract or agreement relating to the Assets, or settle, compromise, or waive any material right relating to the Assets, (iv) maintain insurance coverage on the Assets in the amounts and of the types presently in force, (v) maintain in full force and effect the Leases, the Surface Agreements, and other Assets, and properly pay all costs and expenses and perform all obligations of the owner of the Assets promptly when due, (vi) maintain all Permits, (vii) not transfer, sell, hypothecate, encumber, or otherwise dispose of any Assets except for sales and dispositions of Hydrocarbons made in the ordinary course of business consistent with Seller’s past practices, (viii) not grant or create any preferential right to purchase, right of first opportunity, or other transfer restriction or requirement with respect to the Assets except in connection with the renewal or extension of Assets after the Effective Time if granting or creating such right or requirement is a condition of such renewal or extension and then with prompt written notice of such action to Buyer, (ix) not elect to become a non-consenting party in any operation proposed by any other Person with respect to the Assets unless requested to do so in writing by Buyer, (x) maintain the Equipment in at least as good a condition as it is on the date hereof, ordinary wear and tear excepted, (xi) not make any change in any method of accounting or accounting practice or policy with respect to the Assets, and (xii) not agre...
Operation of the Assets. (a) Between the date of this Agreement and the Closing Date, Seller shall conduct the business relating to the Assets only in the ordinary course of business. By way of example, and not as a limitation, during such period, Seller shall use commercially reasonable efforts to:
Operation of the Assets. Except as described in Schedule 5.21, since January 1, 2013, (a) all Assets operated by Panther have been operated only in the ordinary course of business consistent with past practices of Panther and Section 13.01 and (b) there has not been any material damage, destruction or loss with respect to the Assets. The representations and warranties in this Section 5.21 shall not apply to any of the Leases.
Operation of the Assets. From the date of this Agreement to the Closing, Xxxxxxxx LLC shall (and Xxxxxxxx Corp shall cause Xxxxxxxx LLC to):
Operation of the Assets. During the period from the date of this ----------------------- Agreement to the Closing Date, the Sellers shall operate their businesses and the Assets as now operated and only in the ordinary course and shall take such actions as may be necessary to ensure that the representations and warranties of the Sellers set forth in this Agreement will be true and correct as of the Closing Date, and the Shareholders shall cause the Sellers to do so. By way of illustration only and not limitation, the Sellers shall take each such action as is set forth in Schedule 4.1 hereto, and the Shareholders shall cause the Sellers to do so.
Operation of the Assets. From the Execution Date through the Closing, Regency HIG shall use reasonable efforts to cause the Business to be operated in the ordinary course (other than in connection with the Haynesville Expansion Project, which shall be operated as provided for in Section 6.8) and, without limiting the generality or effect of the foregoing, Regency HIG shall use reasonable efforts to cause RIGS to maintain the Assets, comply with all applicable Laws, and preserve intact the Business and its relationships with customers, suppliers and others having business relationships with RIGS, in each case in all material respects and as consistent with past practices employed with respect to the Assets. Without limiting the generality or effect of the foregoing, except as set forth on Schedule 6.7, prior to the Closing, without the prior written consent of the Investors, which consent shall not be unreasonably withheld, conditioned or delayed, neither Regency HIG nor the Company shall cause or allow the Company or RIGS to, except as otherwise permitted or required by the other terms of this Agreement or by the terms of any other Transaction Document:
Operation of the Assets. Except as described in Schedule 3.22, since the Effective Time and until the date hereof, (a) all Assets operated by Seller have been operated only in the ordinary course of business consistent with past practices of Seller and Section 5.1 and (b) there has not been any material damage, destruction or loss with respect to the Assets. The representations and warranties in this Section 3.22 shall not apply to any of the Leases.
Operation of the Assets. (a) From and after the date of execution of this Agreement, and subject to the provisions of applicable operating and other agreements affecting the Assets, Seller shall (i) use its reasonable efforts during the period prior to the Closing to cause the Target Entities to operate and administer the Assets, and to cause any other operators to operate and administer the Assets, in a manner consistent with past practices, (ii) cause the Target Entities to make payment when due of all costs and expenses attributable to the ownership or operation of the Assets (except when being contested in good faith), and (iii) cause the Target Entities to carry on their respective businesses with respect to the Assets in substantially the same manner as before execution of this Agreement.
Operation of the Assets. (a) Except as expressly provided by this Agreement, or as consented to in writing by the other parties to this Agreement, during the period from the date of this Agreement through the Closing Date, as to their respective interests in the Assets, each of the Sellers shall, or shall cause its representative(s) to:
Operation of the Assets. (a) From and after the date of execution of this Agreement, and subject to the provisions of applicable operating and other agreements, Seller shall (i) use commercially reasonable efforts during the period prior to the Closing, to operate and administer the Assets in a manner consistent with its past practices, (ii) make payment of all costs and expenses attributable to the ownership or operation of the Assets and relating to the period prior to the transfer of operations of the Assets, (iii) carry on its business with respect to the Assets in substantially the same manner as before execution of this Agreement, and (iv) use commercially reasonable efforts to preserve in full force and effect all Leases, Permits and Contracts that relate to the Assets in a manner consistent with its past practices. From and after the date of execution of this Agreement, it is understood that Seller may take the actions set forth in Schedule 3.10 (if any).
