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Title: |
Purchase and Sale Agreement |
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Date: |
2005 |
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Preview shows 5KB of 159KB total |
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Price: |
$65 |
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ID: |
#903366 |
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<DOCUMENT>
<TYPE>EX-10.B
<SEQUENCE>5
<FILENAME>exh10bsaleagr-tabandtexas.txt
<DESCRIPTION>PURCHASE AND SALE AGREEMENT WITH SMITH PRODUCTION-TABASCO & TEXAS
<TEXT>
PURCHASE AND SALE AGREEMENT
BETWEEN
SMITH PRODUCTION INC.
AS SELLER
AND
FIDELITY EXPLORATION & PRODUCTION COMPANY
AS PURCHASER
-------------------------------------------------------
Table of Contents
Exhibits
Definitions
Article 1 Purchase and Sale
Section 1.1 Purchase and Sale
Section 1.2 Assets
Section 1.3 Excluded Assets
Section 1.4 Effective Time
Section 1.5 Delivery and Maintenance of Records
Section 1.6 Proration of Costs and Revenues
Article 2 Purchase Price
Section 2.1 Purchase Price
Section 2.2 Adjustments to Purchase Price
Section 2.3 Allocation of Purchase Price
Section 2.4 Deposit
Article 3 Title Matters
Section 3.1 Seller's Title
Section 3.2 Defensible Title
Section 3.3 Permitted Encumbrances
Section 3.4 Notice of Title Defects
Section 3.5 Consents to Assignment and Preferential Rights to Purchase
Section 3.6 Casualty Loss
Section 3.7 Condemnation Loss
Section 3.8 Limitations on Applicability
Article 4 Environmental Matters
Section 4.1 Environmental Assessment
Section 4.2 Notice of Material Adverse Environmental Condition
Section 4.3 Environmental Remedies
Section 4.4 Limitations
Article 5 Representations and Warranties of Seller
Section 5.1 Disclaimers
Section 5.2 Existence and Qualification
Section 5.3 Power
Section 5.4 Authorization and Enforceability
Section 5.5 No Conflicts
Section 5.6 Purchaser's Liability for Brokers' Fees
Section 5.7 Litigation
Section 5.8 Taxes and Assessments
Section 5.9 Outstanding Capital Commitments
Section 5.10 Compliance with Laws
Section 5.11 Contracts
Section 5.12 Payments
Section 5.13 Gas Imbalances
Section 5.14 Governmental Authorizations
Section 5.15 Consents to Assignments and Preferential Purchase Rights
Section 5.16 Non-foreign Person
Section 5.17 Payout Balances
Section 5.18 Condemnation
Section 5.19 Bankruptcy
Section 5.20 PUHCA/NGA
Section 5.21 Investment Company
Section 5.22 Suspense Accounts
Article 6 Representations and Warranties of Purchaser
Section 6.1 Existence and Qualification
Section 6.2 Power
Section 6.3 Authorization and Enforceability
Section 6.4 No Conflicts
Section 6.5 Seller's Liability for Brokers' Fees
Section 6.6 Litigation
Section 6.7 Financing
Section 6.8 Texas Deceptive Trade Practices Consumer Protection Act
Section 6.9 No Reliance
Article 7 Covenants of the Parties
Section 7.1 Access
Section 7.2 Government Reviews
Section 7.3 Notification of Breaches
Section 7.4 Letters-in-Lieu; Assignments and Bills of Sale; Operator
Section 7.5 Public Announcements
Section 7.6 Operation of Business
Section 7.7 Indemnity Regarding Access
Section 7.8 Gas Imbalances and Take-or-Pay Make-up Obligations
Section 7.9 Consents and Preferential Rights
Section 7.10 Tax Matters
Section 7.11 Further Assurances
Section 7.12 Transition Services
Section 7.13 Replacement of Bonds, Letters of Credit and Guarantees
Section 7.14 Like-Kind Exchange
Section 7.15 Arbitration
Article 8 Conditions to Closing
Section 8.1 Conditions of Seller to Closing
Section 8.2 Conditions of Purchaser to Closing
Article 9 Closing
Section 9.1 Time and Place of Closing
Section 9.2 Obligations of Seller at Closing
Section 9.3 Obligations of Purchaser at Closing
Section 9.4 Closing Payment and Post-Closing Purchase Price Adjustments
Article 10 Termination
Section 10.1 Termination
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