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It defines key terms, establishes purchase and sale mechanics, specifies excluded assets, revenues, expenses, guaranty, and deposit and closing cash adjustments. The agreement details extensive seller and buyer representations, closing conditions, access and confidentiality provisions, title and environmental matters, indemnification and survival, termination and remedies, and miscellaneous governing law and notice requirements.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/exco-operating-company-purchase-and-sale-agreement-june-29-2009/282000/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/exco-operating-company-purchase-and-sale-agreement-june-29-2009/282000.png","ImageObject",442,249,{"name":88,"@type":89},"Mary Man","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-26","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":8},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What transaction is governed by this agreement and who are the parties?","Question",{"text":108,"@type":109},"The agreement governs a purchase and sale transaction between EXCO Operating Company, LP and EXCO Production Company, LP as sellers and BG US Production Company, LLC as buyer.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is the purchase price handled at closing?",{"text":113,"@type":109},"The agreement includes the consideration terms, a deposit, and an adjustment framework for closing cash consideration, including preliminary and final settlement statements, dispute handling, and allocated values.",{"name":115,"@type":106,"acceptedAnswer":116},"What types of representations, warranties, and indemnification provisions are included?",{"text":117,"@type":109},"Seller and buyer representations and warranties cover organization, authority, no conflicts, consents, litigation, environmental and tax matters, among others. The agreement also sets indemnification obligations, procedures, limitation on liability, survival, and exclusive remedy terms.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},282000,1789569523,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":8,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":125,"read_time":42},7421720224475,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","Exhibit 2.5  \nPURCHASE AND SALE AGREEMENT  \nBY AND BETWEEN  \nEXCO OPERATING COMPANY, LP  \nEXCO PRODUCTION COMPANY, LP  \nas Seller  \nand  \nBG US PRODUCTION COMPANY, LLC  \nas Buyer  \nEXECUTED ON June 29, 2009  \nEFFECTIVE DATE: January 1, 2009  \nTABLE OF CONTENTS  \nPage  \nARTICLE I DEFINITIONS AND INTERPRETATION 1  \n1.1 Defined Terms 1  \n1.2 References and Rules of Construction 1  \nARTICLE II PURCHASE AND SALE 2  \n2.1 Purchase and Sale 2  \n2.2 Excluded Assets 4  \n2.3 Revenues and Expenses. 4  \n2.4 Guaranty 5  \nARTICLE III CONSIDERATION 5  \n3.1 Consideration 5  \n3.2 Deposit. 6  \n3.3 Adjustments to Closing Cash Consideration 6  \n3.4 Adjustment Methodology 8  \n3.5 Preliminary Settlement Statement 8  \n3.6 Final Settlement Statement 8  \n3.7 Disputes 9  \n3.8 Adjustment for Final Settlement Statement 9  \n3.9 Allocated Values 10  \n3.10 Allocation for Imbalances at Closing 10  \n3.11 Maintenance of Value. 10  \nARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER 11  \n4.1 Organization, Existence 11  \n4.2 Authorization 11  \n4.3 No Conflicts 12  \n4.4 Consents 12  \n4.5 Bankruptcy 12  \n4.6 Foreign Person 12  \n4.7 Claims and Litigation 12  \n4.8 Material Contracts. 13  \n4.9 No Violation of Laws 14  \n4.10 Preferential Rights 15  \n4.11 Royalties, Etc. 15  \n4.12 Payout Status 15  \n4.13 Imbalances 15  \n4.14 Current Commitments 15  \n4.15 Environmental. 15  \n4.16 Taxes 16  \n4.17 Brokers Fees 16  \n4.18 Drilling Obligations 16  \ni  \n4.19 Advance Payments 16  \n4.20 Plugging and Abandonment. 17  \n4.21 Partnerships 17  \n4.22 Permits 17  \n4.23 Conveyed Interests Complete 17  \n4.24 Nonconsent 18  \n4.25 No Material Adverse Change 18  \nARTICLE V BUYER’S REPRESENTATIONS AND WARRANTIES 18  \n5.1 Organization; Existence 18  \n5.2 Authorization 18  \n5.3 No Conflicts 18  \n5.4 Consents 19  \n5.5 Bankruptcy 19  \n5.6 Claims and Litigation 19  \n5.7 Financing 19  \n5.8 Independent Evaluation 19  \n5.9 Broker’s Fees 19  \n5.10 Accredited Investor 20  \n5.11 Oil & Gas Interests 20  \nARTICLE VI CERTAIN AGREEMENTS 20  \n6.1 Conduct of Business 20  \n6.2 Governmental Bonds 22  \n6.3 Notifications 22  \n6.4 HSR Act 22  \n6.5 Amendment to Schedules 23  \n6.6 Non-Solicitation of Employees 23  \n6.7 Assignment of Downstream Contract Interests 23  \n6.8 AMI 23  \n6.9 Enforcement of Third Party Warranties, Guarantees and Indemnities 23  \n6.10 Negotiation of Ancillary Agreements 23  \nARTICLE VII BUYER’S CONDITIONS TO CLOSING 24  \n7.1 Representations 24  \n7.2 Performance 24  \n7.3 No Legal Proceedings 24  \n7.4 Title Defects and Environmental Defects 24  \n7.5 HSR Act 24  \n7.6 Consent and Waivers 24  \n7.7 Contribution Agreement 25  \n7.8 Closing Deliverables 25  \n7.9 No Material Event 25  \n7.10 No Material Adverse Effect 25  \n7.11 Ancillary Agreements 25  \nii  \nARTICLE VIII SELLER’S CONDITIONS TO CLOSING 25  \n8.1 Representations 25  \n8.2 Performance 25  \n8.3 No Legal Proceedings 25  \n8.4 Title Defects and Environmental Defects 25  \n8.5 HSR Act 26  \n8.6 Consent and Waivers 26  \n8.7 Contribution Agreement 26  \n8.8 Closing Deliverables 26  \n8.9 No Material Event 26  \n8.10 Ancillary Agreements 26  \nARTICLE IX CLOSING 26  \n9.1 Date of Closing 26  \n9.2 Place of Closing 27  \n9.3 Closing Obligations 27  \n9.4 Records 28  \nARTICLE X ACCESS / DISCLAIMERS 28  \n10.1 Access. 28  \n10.2 Confidentiality 30  \n10.3 Disclaimers. 30  \nARTICLE XI TITLE MATTERS; CASUALTIES; TRANSFER RESTRICTIONS 32  \n11.1 General Disclaimer of Title Warranties and Representations 32  \n11.2 Notice of Title Defects; Defect Adjustments. 32  \n11.3 Casualty or Condemnation Loss. 39  \n11.4 Preferential Purchase Rights and Consents to Assign. 39  \nARTICLE XII ENVIRONMENTAL MATTERS 41  \n12.1 Environmental Defects. 41  \n12.2 NORM, Wastes and Other Substances 44  \nARTICLE XIII ASSUMPTION; SURVIVAL, INDEMNIFICATION 44  \n13.1 Assumption by Buyer 44  \n13.2 Indemnities of Seller 46  \n13.3 Indemnities of Buyer 47  \n13.4 Limitation on Liability. 47  \n13.5 Express Negligence 48  \n13.6 Exclusive Remedy 48  \n13.7 Indemnification Procedures 49  \n13.8 Survival. 50","cbCaikw95tdZiZNm","https://ap.wps.com/l/cbCaikw95tdZiZNm","pdf",263684,85,"English","# ARTICLE I DEFINITIONS AND INTERPRETATION\n## 1.1 Defined Terms\n## 1.2 References and Rules of Construction\n# ARTICLE II PURCHASE AND SALE\n## 2.1 Purchase and Sale\n## 2.2 Excluded Assets\n## 2.3 Revenues and Expenses\n## 2.4 Guaranty\n# ARTICLE III CONSIDERATION\n## 3.1 Consideration\n## 3.2 Deposit\n## 3.3 Adjustments to Closing Cash Consideration\n## 3.4 Adjustment Methodology\n## 3.5 Preliminary Settlement Statement\n## 3.6 Final Settlement Statement\n## 3.7 Disputes\n## 3.8 Adjustment for Final Settlement Statement\n## 3.9 Allocated Values\n## 3.10 Allocation for Imbalances at Closing\n## 3.11 Maintenance of Value\n# ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER\n## 4.1 Organization, Existence\n## 4.2 Authorization\n## 4.3 No Conflicts\n## 4.4 Consents\n## 4.5 Bankruptcy\n## 4.6 Foreign Person\n## 4.7 Claims and Litigation\n## 4.8 Material Contracts\n## 4.9 No Violation of Laws\n## 4.10 Preferential Rights\n## 4.11 Royalties, Etc.\n## 4.12 Payout Status\n## 4.13 Imbalances\n## 4.14 Current Commitments\n## 4.15 Environmental\n## 4.16 Taxes\n## 4.17 Brokers Fees\n## 4.18 Drilling Obligations\n## 4.19 Advance Payments\n## 4.20 Plugging and Abandonment\n## 4.21 Partnerships\n## 4.22 Permits\n## 4.23 Conveyed Interests Complete\n## 4.24 Nonconsent\n## 4.25 No Material Adverse Change\n# ARTICLE V BUYER’S REPRESENTATIONS AND WARRANTIES\n## 5.1 Organization; Existence\n## 5.2 Authorization\n## 5.3 No Conflicts\n## 5.4 Consents\n## 5.5 Bankruptcy\n## 5.6 Claims and Litigation\n## 5.7 Financing\n## 5.8 Independent Evaluation\n## 5.9 Broker’s Fees\n## 5.10 Accredited Investor\n## 5.11 Oil & Gas Interests\n# ARTICLE VI CERTAIN AGREEMENTS\n## 6.1 Conduct of Business\n## 6.2 Governmental Bonds\n## 6.3 Notifications\n## 6.4 HSR Act\n## 6.5 Amendment to Schedules\n## 6.6 Non-Solicitation of Employees\n## 6.7 Assignment of Downstream Contract Interests\n## 6.8 AMI\n## 6.9 Enforcement of Third Party Warranties, Guarantees and Indemnities\n## 6.10 Negotiation of Ancillary Agreements\n# ARTICLE VII BUYER’S CONDITIONS TO CLOSING\n## 7.1 Representations\n## 7.2 Performance\n## 7.3 No Legal Proceedings\n## 7.4 Title Defects and Environmental Defects\n## 7.5 HSR Act\n## 7.6 Consent and Waivers\n## 7.7 Contribution Agreement\n## 7.8 Closing Deliverables\n## 7.9 No Material Event\n## 7.10 No Material Adverse Effect\n## 7.11 Ancillary Agreements\n# ARTICLE VIII SELLER’S CONDITIONS TO CLOSING\n## 8.1 Representations\n## 8.2 Performance\n## 8.3 No Legal Proceedings\n## 8.4 Title Defects and Environmental Defects\n## 8.5 HSR Act\n## 8.6 Consent and Waivers\n## 8.7 Contribution Agreement\n## 8.8 Closing Deliverables\n## 8.9 No Material Event\n## 8.10 Ancillary Agreements\n# ARTICLE IX CLOSING\n## 9.1 Date of Closing\n## 9.2 Place of Closing\n## 9.3 Closing Obligations\n## 9.4 Records\n# ARTICLE X ACCESS / DISCLAIMERS\n## 10.1 Access\n## 10.2 Confidentiality\n## 10.3 Disclaimers\n# ARTICLE XI TITLE MATTERS; CASUALTIES; TRANSFER RESTRICTIONS\n## 11.1 General Disclaimer of Title Warranties and Representations\n## 11.2 Notice of Title Defects; Defect Adjustments\n## 11.3 Casualty or Condemnation Loss\n## 11.4 Preferential Purchase Rights and Consents to Assign\n# ARTICLE XII ENVIRONMENTAL MATTERS\n## 12.1 Environmental Defects\n## 12.2 NORM, Wastes and Other Substances\n# ARTICLE XIII ASSUMPTION; SURVIVAL, INDEMNIFICATION\n## 13.1 Assumption by Buyer\n## 13.2 Indemnities of Seller\n## 13.3 Indemnities of Buyer\n## 13.4 Limitation on Liability\n## 13.5 Express Negligence\n## 13.6 Exclusive Remedy\n## 13.7 Indemnification Procedures\n## 13.8 Survival\n## 13.9 Non-Compensatory Damages\n## 13.10 Cooperation by Buyer Concerning Retained Litigation\n## 13.11 Exclusion of Certain Matters\n# ARTICLE XIV TERMINATION, DEFAULT AND REMEDIES\n## 14.1 Right of Termination\n## 14.2 Failure to Close and Remedies\n## 14.3 Effect of Termination\n## 14.4 Return of Documentation and Confidentiality\n# ARTICLE XV MISCELLANEOUS\n## 15.1 Exhibits, Schedules and Appendices\n## 15.2 Expenses and Taxes\n## 15.3 Tax Treatment\n## 15.4 Allocation of Consideration for Tax Purposes\n## 15.5 Assignment\n## 15.6 Preparation of Agreement\n## 15.7 Publicity\n## 15.8 Notices\n## 15.9 Further Cooperation\n## 15.10 Filings, Notices and Certain Governmental Approvals\n## 15.11 Entire Agreement; Conflicts\n## 15.12 Parties in Interest\n## 15.13 Amendment\n## 15.14 Waiver; Rights Cumulative\n## 15.15 Governing Law; Jurisdiction; Venue; Jury Waiver\n## 15.16 Arbitration\n## 15.17 Severability\n## 15.18 Counterparts\n## 15.19 Joint and Several Liability","[{\"question\":\"What transaction is governed by this agreement and who are the parties?\",\"answer\":\"The agreement governs a purchase and sale transaction between EXCO Operating Company, LP and EXCO Production Company, LP as sellers and BG US Production Company, LLC as buyer.\"},{\"question\":\"How is the purchase price handled at closing?\",\"answer\":\"The agreement includes the consideration terms, a deposit, and an adjustment framework for closing cash consideration, including preliminary and final settlement statements, dispute handling, and allocated values.\"},{\"question\":\"What types of representations, warranties, and indemnification provisions are included?\",\"answer\":\"Seller and buyer representations and warranties cover organization, authority, no conflicts, consents, litigation, environmental and tax matters, among others. The agreement also sets indemnification obligations, procedures, limitation on liability, survival, and exclusive remedy terms.\"}]","EXCO Operating Company Purchase and Sale Agreement - June 29, 2009 | PDF"]