Each party waives their right to bring a partition action regarding interests in contracted areas, wells, platforms, and equipment. They also covenant not to resort to partition actions during the existence of the agreement.
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Waiver of Right To Partition
Each party waives their right to bring a partition action regarding interests in contracted areas, wells, platforms, and equipment. They also covenant not to resort to partition actions during the existence of the agreement.
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Waiver of Right to Partition.
Each Party waives the right to bring an action for partition of
its interest in the Contract Area, wells, Platform, Development Facilities, and other equipment held under this Agreement, and covenants that during the existence of this Agreement it shall not resort at any time to an action at law or in equity to partition any or all of the Contract Areas and lands or personal property subject to this Agreement. Sample 1 Sample 2 See All (11) Save Copy Waiver of Right to Partition. So long as the Transmission System or any part thereof as originally constructed, reconstructed or added to is used or useful for the transmission of electric power and energy, or to the end of the period permitted by applicable law, whichever first occurs, the Transmission Owners waive their right to partition whether by partition in kind or sale and division of the proceeds thereof, and agree that they will not resort to any action at law or in equity to partition and further waive the benefit of all laws that may now or hereafter authorize such partition of the properties comprising the Transmission System. It is agreed this covenant shall be deemed to run with the land. All instruments of conveyance which effect, evidence or vest each Transmission Owner’s respective ownership interest in the Transmission System shall contain this waiver of right to partition. Sample 1 Sample 2 See All (10) Save Copy Waiver of Right to Partition. As a material inducement to each Member to execute this Agreement, each Member covenants and represents to each other Member that, during the existence of the Company, no Member, nor his heirs, representatives, successors, transferees or assigns, shall attempt to make any partition of any Company assets, whether now owned or hereafter acquired, and each Member waives all rights of partition provided by statute or principles of law or equity, including partition in kind or partition by sale. Sample 1 Sample 2 Sample 3 See All (9) Save Copy Waiver of Right to Partition. Each of the Members irrevocably waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property and assets of the Company, and hereby agrees not to file a bill for a membership accounting or otherwise proceed adversely in any manner whatsoever against the other Members or the Company, except for bad faith, gross negligence, fraud, intentional misconduct or violation of this Agreement. Sample 1 Sample 2 Sample 3 See All (9) Save Copy Remove Advertising Waiver of Right to Partition. Each of the Members irrevocably waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property and assets of the Company. Sample 1 Sample 2 Sample 3 See All (9) Save Copy Waiver of Right to Partition. 8.1 The Participants accept title to their respective interests in the San Juan Project, water rights, lands, land rights and improvements thereon as tenants in common, and agree that their interests therein shall be held in such tenancy in common for the duration of the term of this Agreement, including any extensions thereof. While this Agreement, including any extensions thereof, remains in force and effect, each Participant agrees as follows: Sample 1 Sample 2 Sample 3 See All (8) Save Copy Waiver of Right to Partition. The Partners, by execution of this Agreement, waive their respective rights to partition of the Partnership Property. Sample 1 Sample 2 Sample 3 See All (6) Save Copy Waiver of Right to Partition. Each of the parties hereto irrevocably waives during the term of the Company any right that it may have to maintain any action for partition with respect to Company property. 13.11