BP Gas Gathering Agreement means that certain Gas Gathering Agreement, effective as of October 19, 2016, by and between Azure Shelby Assets, LLC (Azure Shelby) and BP America Production Company (BP).
BP Partial Assignment means a partial assignment from Azure Shelby (or its permitted assignee) to Buyer (or its permitted designated Affiliate) of Azure Shelbys rights under the BP Gas Gathering Agreement that provides for (a) Buyer (or its permitted designated Affiliate) to receive Azure Shelbys dedication of production from the area set forth on Exhibit J hereto and all other rights appurtenant thereto, including the right to provide gathering and related services with respect to such dedication, (b) Buyer (or its permitted designated Affiliate) to assume all of Azure Shelbys obligations appurtenant to such assigned rights, and (c) Buyer and BP to be subject to all other terms and conditions relating to such dedication of production and gathering and related services as those set forth under the BP Gas Gathering Agreement (or any other assignment or amendment, replacement, substitute or alternative Contract between Buyer (or any of its Affiliates) and BP that would provide Buyer (or any of its Affiliates) with substantially similar rights and obligations to those provided for under clauses (a) (c) above).
Business means the midstream business and operations of Sellers and their Affiliates (including gathering, processing, treating and marketing of Hydrocarbons; the disposal, treating and recycling of water and other substances generated from the exploration and production of Hydrocarbons; and recovering and selling oil, condensate and other hydrocarbons accumulated in salt water disposal wells) located in, or pertaining to, Panola, Harrison, Angelina, Shelby, San Augustine, Sabine, Nacogdoches and Rusk Counties, Texas and De Soto and Caddo Parishes, Louisiana, as conducted on the date hereof.
Business Day means any day that is not a Saturday, Sunday or legal holiday in the State of Texas and that is not otherwise a federal holiday in the United States.
Buyer has the meaning provided such term in the preamble.
Casualty has the meaning provided such term in Section 6.5.
Claim has the meaning ascribed by Section 101(5) of the Bankruptcy Code, including all rights, claims, causes of action, defenses, debts, demands, damages, offset rights, setoff rights, recoupment rights, obligations, and liabilities of any kind or nature under contract, at Law or in equity, known or unknown, contingent or matured, liquidated or unliquidated, and all rights and remedies with respect thereto.
Closing has the meaning provided such term in Section 8.1.
Closing Date has the meaning provided such term in Section 8.1.