79
13.6Survival
81
13.7Non-Compensatory Damages
81
13.8Waiver or Right to Rescission
82
13.9Insurance
82
13.10Waiver of Consumer Rights
82
ARTICLE XIV TERMINATION, DEFAULT AND REMEDIES83
14.1Right of Termination
83
14.2Effect of Termination
84
14.3Return of Documentation and Confidentiality
86
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ARTICLE XV EMPLOYEES87
15.1Business Employees
87
15.2Employee Matters
87
ARTICLE XVI MISCELLANEOUS88
16.1Exhibits and Schedules
88
16.2Expenses and Taxes
88
16.3Value Allocations for Tax Purposes
90
16.4Assignment; Liquidating Trust
91
16.5Preparation of Agreement
91
16.6Publicity
91
16.7Notices
92
16.8Further Cooperation
93
16.9Filings, Notices and Certain Governmental Approvals
93
16.10Entire Agreement; Conflicts
94
16.11Successors and Permitted Assigns
94
16.12Parties in Interest
94
16.13Amendment
94
16.14Waiver; Rights Cumulative
95
16.15Governing Law; Jurisdiction; Venue; Jury Waiver
95
16.16Severability
97
16.17Removal of Name
97
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16.18Counterparts
97
16.19Time is of the Essence
97
16.20No Recourse
97
16.21No Recourse to Financing Sources
98
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LIST OF EXHIBITS AND SCHEDULES
Exhibits
EXHIBIT A
LEASES; UNITS
EXHIBIT A-1
WELLS
EXHIBIT A-2
OPERATIONS WELLS
EXHIBIT A-3
EASEMENTS
EXHIBIT A-4
RESERVED
EXHIBIT A-5
CERTAIN REAL PROPERTY INTERESTS
EXHIBIT A-6
PUD LOCATIONS
EXHIBIT A-7
SALE AREA
EXHIBIT A-8
VEHICLES
EXHIBIT B-1
FORM OF ASSIGNMENT AND BILL OF SALE
EXHIBIT B-2
FORM OF SURFACE AND MINERAL DEED
EXHIBIT C
EXCLUDED ASSETS
EXHIBIT D
ASSIGNED FCC LICENSES
EXHIBIT E
ACCOUNTING SERVICES
EXHIBIT F
SALE ORDER
EXHIBIT G
FORM OF RELEASE AND EXCULPATION
EXHIBIT H
FORM OF ESCROW AGREEMENT
Schedules
Schedule 1.1
Certain Disclosures
Schedule 2.4
Cure Costs
Schedule 3.3(a)(vi)
Certain AFEs
Schedule 3.6
Allocated Values
Schedule 7.3
No Conflicts
Schedule 7.4
Consents
Schedule 7.6
Litigation
Schedule 7.7(a)
Material Contracts
Schedule 7.7(b)
Material Contract Defaults
Schedule 7.8
Violation of Laws
Schedule 7.9
Preferential Purchase Rights
Schedule 7.10
Current Commitments
Schedule 7.11
Asset Taxes
Schedule 7.14
Bonds and Credit Support
Schedule 7.15
Imbalances
Schedule 7.16
Suspense Funds
Schedule 7.18
Insurance
Schedule 7.20
Wells; Plug and Abandon Notices
Schedule 7.22
Payouts
Schedule 7.24
Environmental
Schedule 7.26
Certain Transfers
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Schedule 8.4
Consents
Schedule 9.1
Conduct of Business
Schedule 13.1
Assumed Obligation
Schedule 15.1
Business Employees
PURCHASE AND SALE AGREEMENT
This PURCHASE AND SALE AGREEMENT (as the same may be amended, restated,
supplemented or otherwise modified from time to time, this "Agreement") is
entered into the 31st day of December, 2019 (the "Execution Date"), by and among
Alta Mesa Holdings, LP, a Texas limited partnership ("AMH"), Alta Mesa Holdings
GP, LLC, a Texas limited liability company ("AMHGP"), OEM GP, LLC, a Texas
limited liability company ("OEMGP"), Alta Mesa Finance Services Corp., a
Delaware corporation ("AMFSC"), Alta Mesa Services, LP, a Texas limited
partnership ("AMSLP") and Oklahoma Energy Acquisitions, LP, a Texas limited
partnership ("OEA", and collectively with AMH, AMHGP, OEMGP, AMFSC and AMSLP,
"Seller"), BCE-Mach III LLC, a Delaware limited liability company ("Buyer") and,
for the limited purposes set forth in Sections 9.8(b), (c), (f), (g), (i), (j)
and (k) of this Agreement, Alta Mesa Resources, Inc., a Delaware corporation
("AMR"). Buyer and Seller may be referred to collectively as the "Parties" or
individually as a "Party."
Recitals