OKE » Topics » Section 4.11 Material Contracts.

These excerpts taken from the OKE 10-Q filed Nov 4, 2005.

Section 4.11 Material Contracts.

 

(a) Schedule 4.11 sets forth all of the following Contracts to which the Company is a party or by which it is bound, other than Leases and other than Contracts that have been terminated or will expire by their terms before or upon the Closing or Contracts with Affiliates of Seller that will be terminated before or upon the Closing (collectively, the Material Contracts):

 

(i) all material operating agreements, other than operating agreements in a form which is standard in the industry;

 

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(ii) all material transportation and gas balancing agreements, other than those which are a part of or incorporated by reference into joint operating agreements or contained in Seller’s files;

 

(iii) area of mutual interest agreements, other than those contained in any exploration agreement or letter of intent,

 

(iv) all agreements for capital expenditures or the acquisition or construction of fixed assets outside of the ordinary course of business that require aggregate future payments in excess of $250,000,

 

(v) all agreements for or that contemplate the sale of any of the Properties (except this Agreement) with a sales price in excess of $250,000, and

 

(vi) other material agreements of the Company obligating the Company to make any payment in excess of $250,000.

 

(b) The Company has not received any written notice or written threat of the termination, expiration or modification of any Material Contract within one year from the date hereof, which termination, expiration or modification would have a Material Adverse Effect. Purchaser has been provided with access to true and complete copies of each Material Contract, including each contract, agreement and instrument listed in Schedule 4.11.

 

Section 4.11 Material Contracts.

 

(a) Schedule 4.11 sets forth all of the following Contracts to which any Company is a party or by which it is bound, other than Leases and other than Contracts that have been terminated or will expire by their terms before or upon the Closing or Contracts with Affiliates of Seller that will be terminated before or upon the Closing (collectively, the Material Contracts):

 

(i) all material operating agreements, other than operating agreements in a form which is standard in the industry;

 

(ii) all material transportation and gas balancing agreements, other than those which are a part of or incorporated by reference into joint operating agreements or contained in Seller’s files;

 

(iii) area of mutual interest agreements, other than those contained in any exploration agreement or letter of intent,

 

(iv) all agreements for capital expenditures or the acquisition or construction of fixed assets outside of the ordinary course of business that require aggregate future payments in excess of $250,000,

 

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(v) all agreements for or that contemplate the sale of any of the Properties (except this Agreement) with a sales price in excess of $250,000, and

 

(vi) other material agreements of the Company obligating the Company to make any payment in excess of $250,000.

 

(b) None of the Companies has received any written notice or written threat of the termination, expiration or modification of any Material Contract within one year from the date hereof, which termination, expiration or modification would have a Material Adverse Effect. Purchaser has been provided with access to true and complete copies of each Material Contract, including each contract, agreement and instrument listed in Schedule 4.11.

 

EXCERPTS ON THIS PAGE:

10-Q (2 sections)
Nov 4, 2005
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