Abandonment of Properties. Nothing in this Conveyance shall obligate Assignor to continue to operate any Development Well or to operate or maintain in force or attempt to maintain in force any Subject Interest when such Development Well ceases to produce, or Assignor determines, in accordance with Section 8.01 above, that such Development Well or Subject Interest is not capable of producing Minerals in paying quantities. The expiration of a Subject Interest in accordance with the terms and conditions applicable thereto shall not be considered to be a voluntary surrender or abandonment thereof.
Appears in 7 contracts
Samples: Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Mortgage With Power of Sale (Chesapeake Granite Wash Trust), Term Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
Abandonment of Properties. Nothing in this Conveyance shall obligate Assignor to continue to operate any Development Well or to operate or maintain in force or attempt to maintain in force any Subject Interest when such Development Well or Subject Interest ceases to produce, or Assignor determines, in accordance with Section 8.01 above, that such Development Well or Subject Interest is not capable of producing Minerals in paying quantities. The expiration of a Subject Interest in accordance with the terms and conditions applicable thereto shall not be considered to be a voluntary surrender or abandonment thereof.
Appears in 5 contracts
Samples: Perpetual Overriding Royalty Interest Conveyance (SandRidge Permian Trust), Term Overriding Royalty Interest (SandRidge Permian Trust), Perpetual Overriding Royalty Interest Conveyance (SandRidge Permian Trust)
Abandonment of Properties. Nothing in this Conveyance shall obligate Assignor to continue to operate any Development Well or to operate or maintain in force or attempt to maintain in force any Subject Interest when such Development Well or Subject Interest ceases to produce, or Assignor determines, in accordance with Section 8.01 above, that such Development Well or Subject Interest is not capable of producing Minerals in paying quantities. The expiration of a Subject Interest in accordance with the terms and conditions applicable thereto shall not be considered to be a voluntary surrender or abandonment thereof.
Appears in 5 contracts
Samples: Term Overriding Royalty Interest Conveyance (SandRidge Permian Trust), Perpetual Overriding Royalty Interest Conveyance (SandRidge Permian Trust), Perpetual Overriding Royalty Interest Conveyance (SandRidge Permian Trust)
Abandonment of Properties. Nothing in this Conveyance shall obligate Assignor to continue to operate any Development Well or to operate or maintain in force or attempt to maintain in force any Subject Interest when such Development Well ceases to produce, or Assignor determines, in accordance with Section 8.01 above, that such Development Well or Subject Interest is not capable of producing Minerals in paying quantities. The expiration of a Subject Interest in accordance with the terms and conditions applicable thereto shall not be considered to be a voluntary surrender or abandonment thereof.
Appears in 3 contracts
Samples: Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
