This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Delaware Express Covenants
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State:
Multi-State
Control #:
US-OG-792
Format:
Word;
Rich Text
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How to fill out Express Covenants?
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FAQ
Under Delaware law, a restrictive covenant, such as a non-compete, generally is enforceable if it: (1) meets general contract law requirements; (2) is reasonable in scope and duration; (3) advances a legitimate economic interest of the party enforcing the covenant; and (4) survives a balance of the equities.
Delaware law provides parties with significant flexibility to restrict or eliminate fiduciary duties in LLC agreements. Sophisticated parties regularly take advantage of this flexibility by eliminating fiduciary duties of members and directors of LLCs.
Special damages are those damages that are the natural but not the necessary result of the wrongful acts.5. Consequential damages, a species of special damages, are damages not directly flowing from the breach, but which the defendant knew or should have known would result therefrom.6.
The covenant not to sue was set forth in a customary drag-along provision in a stockholders' agreement, which provided that if specified board and stockholder approvals were obtained, the signatory stockholders agreed to take various actions in support of the transaction, including voting in favor of the transaction.
The covenant not to sue was set forth in a customary drag-along provision in a stockholders' agreement, which provided that if specified board and stockholder approvals were obtained, the signatory stockholders agreed to take various actions in support of the transaction, including voting in favor of the transaction.
2d 75, 84 (Del. 1992) (explaining that the duty of candor ?represents nothing more than the well-recognized proposition that directors of Delaware corporations are under a fiduciary duty to disclose fully and fairly all material information within the board's control when it seeks shareholder action?) (emphasis added).
Alexander recognized three implied covenants that lessees are bound by: (1) the implied covenant to develop the premises, (2) the implied covenant to protect the leasehold, and (3) the implied covenant to manage and administer the lease.
Delaware law conceives of the implied contractual covenant of good faith and fair dealing (the "Implied Covenant") in contradictory terms. It is both a gap filler subject to the express terms of a contract and an overriding obligation notwithstanding the express terms of a contract.
