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Seller User Agreement

This Seller User Agreement (the “Agreement”) shall govern your use of the website at www.petroleumlistingplace.com (hereinafter referred to as the "Website") and all content, data and materials available or generated on the Website (collectively referred to as "Content") provided by Petroleum Listing Place, LLC (hereinafter referred to as “PLP”):

CAREFULLY READ THE TERMS AND CONDITIONS SET FORTH BELOW. BY CLICKING THE "I AGREE, CONTINUE" BUTTON, YOU EXPRESSLY AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS SET FORTH BELOW AND ARE ENTERING INTO A LEGALLY BINDING CONTRACT THAT IS VALID AND ENFORCEABLE UNDER A VARIETY OF STATE AND/OR FEDERAL STATUTES AND AT COMMON LAW. IF YOU DO NOT AGREE WITH ALL OF THE TERMS AND CONDITIONS SET FORTH BELOW, YOU MAY NOT USE THE WEBSITE AND/OR ITS CONTENT AND YOU SHOULD EXIT THE WEBSITE BY CLICKING ON THE “I DECLINE” BUTTON.

  1. Purpose. The purpose of the Website is to act as a venue for connecting sellers and buyers of petroleum related assets. PLP may provide registered sellers access to the Website in order for sellers to create, post or otherwise offer listings for petroleum related assets on the Website, including descriptions, data, supporting documentation, pictures and any other information and content associated therewith that is posted, uploaded to or otherwise provided or offered by sellers on the Website regarding the same (“Listings”). Such access may be referred to herein as the “Service”. PLP is not involved in the buying or selling of the assets described in the Listings, which must be achieved through direct contact between buyers and sellers.

  2. Age. You represent and warrant that you are eighteen (18) years of age or older.

  3. Authority. You represent and warrant that you have the authority to enter into this Agreement on behalf of yourself and any company or individual that you represent.

  4. Seller Listings. You acknowledge that all your Listings are created and posted by you. You agree to use your reasonable best efforts to provide true, accurate, current and complete information in each and every Listing created by you and use your reasonable best efforts to maintain and promptly update each and every such Listing to keep it true, accurate, current and complete. You further acknowledge and agree that PLP has undertaken no efforts to review the accuracy, correctness or completeness of any of your Listings and you accept full responsibility for the accuracy, integrity, correctness and completeness of the same. You further agree that PLP has no control over the condition, quality, safety or legality of any of your assets described or otherwise offered in your Listings and PLP makes no representations of any kind regarding the same. You agree that PLP may screen Content and Listings and that PLP has the right but not the obligation in its sole discretion to refuse or remove any Content or Listing from the Service and the Website without notice to you. You agree that you will not misuse the Content, Listings, the Website or the Service to violate the law, or use any of the foregoing to violate the law, or to make publications which are threatening or defamatory or otherwise injurious to the safety, business or reputation of others. Without limiting the generality of the foregoing, you also agree not to do any of the following:

    1. Upload, post, email or otherwise transmit any content that is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene, libelous, invasive of another’s privacy, hateful, or racially, ethnically or otherwise objectionable;

    2. Impersonate, post, email or otherwise transmit any content that you do not have a right to transmit under any law or under contractual or fiduciary relationships (such as inside information, proprietary and confidential information learned or disclosed as part of employment relationships or under non-disclosure agreements);

    3. Upload, post, email or otherwise transmit any content that infringes any patent, trademark, trade secret, copyright or other proprietary rights of any person;

    4. Collect or store personal data about others;

    5. Access the Service or the Website for the purpose of data mining or extracting Content or content from the Service or the Website beyond the use authorized under this Agreement;

    6. Harm minors in any way;

    7. Intentionally or unintentionally violate any applicable local, state, national or international law, including, but not limited to, regulations promulgated by the U.S. Securities and Exchange Commission, any rules of any national or other securities exchange, including, without limitation, the New York Stock Exchange, the American Stock Exchange or the NASDAQ, and any regulations having force of law;

    8. Stalk of otherwise harass another; or

    9. Engage in deceptive marketing or advertising practices.

  5. Seller Responsibility for Information Posted on the Website. You are solely responsible for all your Listings and any information posted on the Website and associated with your Listings as well as the accuracy, correctness and completeness of the same.

  6. Transactions between Sellers and Buyers. You agree that PLP is not and shall not be a party to any actual or potential transaction between a buyer and you and cannot and does not ensure that a buyer will complete a transaction. As a result, any part of an actual or potential transaction between a buyer and you, including, but not limited to, the ability of a buyer to purchase, lease or otherwise acquire the assets in a Listing are solely your responsibility and you agree to defend, indemnify and hold harmless PLP from any claims and liabilities associated therewith. Your correspondence or business dealings with buyers or third parties accessed through the Website or the Service, including payment and delivery of related goods or services, and any other terms, conditions, warranties or representations associated with such dealings, are solely between you and such parties. You agree that PLP shall not be responsible or liable for any loss or damage of any sort incurred as the result of any such dealings.

  7. Access, Modifications, Discontinuance and Termination. PLP shall have the right in its sole discretion to refuse to grant access to you or to cancel your access to the Website at any time without notice. PLP reserves the right at any time, without notice, to modify, discontinue (permanently or temporarily) the Website, the Service and any other services provided by PLP hereunder. In the event of modification or discontinuance, any Listing or other information provided by you may be lost. You agree that PLP shall not be responsible to you for any modification of the Website or the interruption of any service offered at the Website. You agree to keep a permanent record of all information provided by you to PLP and you agree that all information submitted to PLP is at your own risk. You agree that PLP has no responsibility for the deletion or failure to store information maintained at, accessible at or transmitted to the Website, including, without limitation, messages, saved files, spreadsheets, prospective purchases, and other communications.

  8. Seller Listing Fee and Success Based Commission Fee.

    1. It is free to create a Listing on the Website. In the event you create a Listing on the Website and subsequently lease or sell your assets contained within the Listing while it is listed on PLP, you shall owe PLP a success based commission fee of one percent (1%) of the total Purchase Price, as defined below, that you receive for the completed transaction or one hundred dollars ($100), whichever is greater. In the event you create a Listing on PLP and subsequently remove or delete the Listing from the Website, you shall owe PLP a success based commission fee of one percent (1%) of the total Purchase Price, as defined below, that you receive for the completed transaction or one hundred dollars ($100), whichever is greater, if you enter into a formal written agreement for the lease, sale or other disposition of the assets contained within such Listing within sixty (60) days following the date such Listing was removed or deleted from the Website and the transaction is subsequently closed.

    2. In the event a portion of the total Purchase Price, as defined below, due seller is not received at the initial closing, you shall advise PLP of such fact in a written notice, pursuant to Section 9 below. You agree that any portion of the Purchase Price received subsequent to the initial closing shall continue to be subject to the same success based commission fee structure as set forth in this Section 8, and any success based commission due PLP shall be remitted to PLP within thirty (30) days following the receipt by you of said amount.

    3. The “Purchase Price” is defined as the base price paid by a buyer for the Listing, less any adjustments, other than revenue and billing adjustments, made at closing or a subsequent post-closing to said base price. The term “Purchase Price” shall include, but is not limited to, any dollar amounts credited to you in the form of a carried working interest or similar type arrangement.

  9. Notification for Sold Listings and Remitting of Commission Fees. You acknowledge and agree that you may owe PLP a success based commission fee as more fully set forth in Section 8 of this Agreement. In the event you sell a Listing or any assets offered in a Listing, you agree to notify PLP and remit any success based commission due PLP within thirty (30) days following the date the Purchase Price or any portion thereof was received regardless of whether it was received at the initial closing or in a subsequent post-closing. Included in the notice to PLP, you shall provide the sold Lot #, seller name, total Purchase Price, portion of the Purchase Price received at the initial closing or subsequent post-closing, as the case may be, the closing date or post-closing date, as the case may be, and the calculated success based commission fee due PLP. You further agree that you shall not cooperate or otherwise work with a buyer or any other third party to circumvent or attempt to circumvent your obligations to pay any commission amount that you may owe to PLP. Failure to notify PLP within thirty (30) days after the closing date or subsequent post-closing date may result in PLP’s termination of your access to the Website. In addition, in the event you fail to remit any commission fees due PLP within the aforementioned thirty (30) day time frame, you agree to reimburse PLP for any and all reasonable out of pocket expenses, including, but not limited to, attorney fees, associated with the collection of commission fees due PLP. You also agree that PLP shall be entitled, but not obligated, to charge you the maximum interest penalty available under law for any amounts due and not paid within the aforementioned thirty (30) day time frame.

    The notice and payment shall be remitted to the following address. Payment shall be remitted by check and payable to Petroleum Listing Place, LLC unless other arrangements are made with PLP for a wire transfer or other similar form of payment acceptable to PLP in its sole discretion.

    Petroleum Listing Place, LLC
    P.O. Box 99
    Kiefer, OK 74041

  10. Seller Sign-Up and Registration. During the seller sign-up and registration process, you will be asked for your name and the name of the company that you are representing or acting on behalf of. You agree and acknowledge that you may not sign-up as a registered seller and represent more than one company or individual unless 1) the companies are affiliates of one another or 2) you have express written permission from all companies and individuals whose interests comprise a Listing to include their interests for sale in the Listing. Failure to comply with this provision may result in PLP’s termination of your access to the Website and removal of the related Listing.

  11. Account, Password and Security. As part of the seller signup process, you will create an account and password. You are solely responsible for maintaining the confidentiality of the account and the password, and are solely responsible for all activities that occur under your account. You agree to immediately notify PLP of any unauthorized use of your account. PLP, in its sole discretion, may terminate your password, account (or any part thereof) or access to the Website, and remove and discard any Content within the Website, for any reason, including, without limitation, non-payment, for lack of use, or if PLP believes that you have violated or acted inconsistently with the letter or spirit of this Agreement. PLP may also in its sole discretion and at any time discontinue providing the Service, access to the Website, or any part thereof, with or without notice. You agree that any termination of your access under any provision of this Agreement may be effected without prior notice, and you acknowledge and agree that PLP may immediately deactivate or delete your account and all related information and files in your account and/or bar any further access by you to such files or the Website. Further, you agree that PLP shall not be liable to you or any third-party for any termination of the Service or your access to the Website.

  12. Site Content. You acknowledge and agree that the Website and all Content made available thereon is protected by copyrights, trademarks, service marks, trade secrets or other intellectual property and other proprietary rights and laws.

  13. Representations and Warranties and Disclaimers. PLP has no control over the Listings created by you on the Website and PLP makes no representation, warranty, covenant or guarantee regarding the same. YOU UNCONDITIONALLY ACKNOWLEDGE AND AGREE PLP MAKES NO WARRANTIES, REPRESENTATIONS, OR COVENANTS, WHETHER EXPRESS OR IMPLIED, CONCERNING THE WEBSITE, THE SERVICE OR THE CONTENT. PLP HEREBY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, REPRESENTATIONS OR COVENANTS WHATSOEVER, WHETHER EXPRESS OR IMPLIED AND WHETHER ARISING BY LAW, IN TORT OR OTHERWISE INCLUDING THOSE IN ANY WAY RELATING TO, ARISING OUT OF, OR CONCERNING: (i) THE CONDITION, SERVICEABILITY, DESCRIPTION, MERCHANTABILITY, QUALITY, SUITABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OR USE OF SUCH CONTENT, WEBSITE OR THE SERVICE; (ii) THE VALUE, CONDITION, OR DESIGN OF SUCH CONTENT, WEBSITE OR THE SERVICE; (iii) FREEDOM FROM INFRINGEMENT OF PATENT OR OTHER PROPRIETARY RIGHTS AND FREEDOM FROM CLAIMS OF MISAPPROPRIATION; (iv) COMPLIANCE WITH SPECIFICATIONS, REGULATIONS, RULES, STANDARDS, LEGAL REQUIREMENTS, DURABILITY, PERFORMANCE, OPERATION, REPAIRS OR MAINTENANCE; (v) THE QUALITY OF MATERIALS OR WORKMANSHIP; (vi) THE ABSENCE OF PATENT OR LATENT DEFECTS (WHETHER DISCOVERABLE OR NOT) IN SUCH CONTENT, WEBSITE OR THE SERVICE; (vii) THE WEBSITE OR THE SERVICE WILL MEET YOUR REQUIREMENTS, (viii) THE WEBSITE OR THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (x) THE RESULTS, CONTENT OR INFORMATION THAT MAY BE OBTAINED FROM THE USE OF THE WEBSITE WILL BE ACCURATE OR RELIABLE, OR (xi) ANY OTHER MATTER WHATSOEVER, EXPRESS OR IMPLIED, REGARDING THE CONTENT, WEBSITE OR THE SERVICE, INCLUDING, WITHOUT LIMITATION, WARRANTIES, REPRESENTATIONS OR COVENANTS ARISING OUT OF CUSTOMARY TRADE USAGE OR PRIOR COURSE OF DEALING AND WHETHER ARISING IN CONTRACT OR TORT, AND WHETHER ARISING BY REFERENCE TO NEGLIGENCE OR STRICT LIABILITY OF PLP.

  14. Indemnity. You expressly agree that your use of the Website and Content is at your sole risk. You agree to defend, indemnify and hold harmless PLP, and its subsidiaries, affiliates, directors, officers, agents, third party contractors and employees, from all loss, harm, damages, costs, expenses and liabilities, and any claim or demand or any kind, including reasonable attorney's fees due to or arising out of (i) Content you receive, submit, post to or transmit on or through the Website, (ii) your use of the Website or Service, (iii) your violation of this Agreement, (iv) your failure to live up to your obligations set forth in a formal written agreement between you and a buyer regarding a Listing, (v) your violation of any rights of another person, or (vi) due to or arising from such activities carried out by a person using your account or password, with your knowledge.

  15. Limitation of Liability. YOU HEREBY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL PLP OR ANY OF ITS OWNERS, DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS BE LIABLE TO YOU IN CONTRACT, IN TORT OR UNDER ANY OTHER LEGAL THEORY FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, SPECIAL OR SIMILAR DAMAGES ARISING OUT OF YOUR USE OF OR YOUR INABILITY TO USE THE WEBSITE OR THE SERVICE, WHETHER OR NOT PLP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. In the event applicable law does not allow for the limitation or exclusion of liability for incidental or consequential damages, you hereby agree that in no event shall PLP’s total liability to you exceed the amount paid by you to PLP for accessing and/or using the Website.

  16. Choice of Law. This Agreement shall be governed by the laws of the state of Oklahoma, without giving effect to any principles of conflicts of laws. You agree to submit to the exclusive jurisdiction over all disputes hereunder under an appropriate state or federal court located in Tulsa County, state of Oklahoma. The failure of PLP to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of this Agreement shall remain in force and effect. You agree that regardless of any statue or law to the contrary, any claim or cause of action you may have arising out of or related to your use of the Website, Service or this Agreement must be filed by you within one (1) year after such claim or cause of action arose or be forever barred.

  17. Modifications to Service. PLP reserves the right at any time, with or without notice, to modify, discontinue (permanently or temporarily) the Website and the Service provided by PLP hereunder. In the event of modification or discontinuance, any Listing or other information provided by you may be lost. You agree to keep a permanent record of all information provided by you to PLP and you agree that all information submitted to PLP is at your own risk. You agree that PLP has no responsibility for the deletion or failure to store information maintained at or transmitted to the Website, including without limitation messages and other communications. You agree that PLP shall not be responsible to you for an interruption or modification of the Website or the Service.

  18. Intellectual Property Rights. Unless otherwise noted herein or on the Website, all right, title, and interest, including copyrights, patents, trademarks, trade secrets and confidential information, collections of information on the Website, and all other intellectual property rights, in the Content and Website (in both print and machine-readable forms) belong to PLP in the U.S. and/or other countries. PLP’s trademarks and trade dress may not be used, including as part of trademarks or as part of domain names or email addresses, in connection with any product or service without specific written permission and may not be used in any manner that is likely to cause confusion.

    Sellers, third-party providers and other entities have trademarks that may be used in the course of PLP’s business and may appear on the Website. These trademarks are the property of their respective owners.

    You grant PLP the worldwide, non-exclusive, perpetual, irrevocable, royalty-free, sublicensable, transferable right to (and to allow others acting on its behalf to) (i) use, edit, modify, prepare derivative works of, reproduce, host, display, stream, transmit, playback, transcode, copy, feature, market, distribute, and otherwise fully exploit your user submissions, including your Listings, and your trademarks, service marks, logos, and similar proprietary rights (collectively, “Your Trademarks") in connection with (a) the Website, (b) PLP’s business, (c) promoting, marketing, and redistributing part or all of the Website (and derivative works thereof), and any Service or service provided at or through the Website, in any media formats and through any media channels (including, without limitation, third-party websites); (ii) take whatever other action is required to perform and market the Website and Service accessed at or through the Website; (iii) allow users to stream, transmit, playback, download, display, feature, distribute, collect, and otherwise use your user submissions and Your Trademarks in connection with the Website and services offered at or through the Website; and (iv) use and publish, and permit others to use and publish, your user submissions and Your Trademarks in connection with the provision or marketing of the Website and service accessed at or through the Website. The foregoing license grant to PLP does not affect your other ownership or license rights in your user submissions, including the right to grant additional licenses to your user submissions.

    You agree that PLP may preserve Content and Listings and may disclose Content and Listings if required to do so by law or in the good faith belief that such preservation of disclosure is reasonably necessary to: (a) comply with legal process; (b) enforce this Agreement; (c) respond to claims that any Listing or Content violates the rights of others; or (d) protect the rights, property or personal safety of PLP, its users and subscribers and the public.

  19. Reproduction or Re-Use. You will not modify, reproduce, copy, sell, resell, rent, loan, distribute or create derivative works of or based on any portion of the Website or any Service or services provided or accessed at the Website. You agree not to use the Website or Service except for the express purpose of creating, posting or otherwise offering your Listings to potential or actual buyers. You will not take any action that undermines the security or integrity of the Website or Service or services provided or accessed at the Website.

  20. Access. You agree not to access the Service by any means other than through the interface that is provided by PLP for use in accessing the same.

  21. Modification of Agreement. PLP reserves the right to modify the terms of this Agreement. Any such modifications will be effective upon your continued use of the Website after such modifications are implemented. PLP, at its option, may also provide notices of changes to the Agreement or other matters by displaying notices or links to notices to you generally on the Website. While PLP may give you notices from time to time, it is not obligated to do so.

  22. Privacy Policy. Your personal information is subject to our Privacy Policy. For more information, please see our full privacy policy by clicking here. PLP does not guarantee that its security procedures will prevent loss, alteration or improper access to data or other content that is part of the Website.

  23. Links. The Website may provide, or third parties may provide, links to other World Wide Web sites or resources. PLP has no control over such sites and resources, and you acknowledge and agree that PLP is not responsible for the availability of such external sites or resources, and does not endorse and is not responsible or liable for any content, advertising, products, or other materials on or available from such sites or resources. You further acknowledge and agree that PLP shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

  24. Section Titles. The section titles in this Agreement are for convenience only and have no legal or contractual effect.

  25. Entire Agreement. Your access to and use of this Website and the Service are subject to this Agreement, the Terms of Service and the Privacy Policy, and all applicable laws and regulations. In the event that there is any conflict between this Agreement, the Terms of Service or the Privacy Policy, the terms of this Agreement shall control.

Have questions about the Seller User Agreement? Call us at 918.938.0929