Burdens. The Leasehold Interests to be acquired by the Program shall be subject to and McMoRan and Participant each shall bear its proportionate part of all third party overriding royalties and other burdens on Leasehold Interests (including subsequently acquired Leasehold Interests in the Prospect AMI) which McMoRan contracts for incidental to the acquisition or evaluation of such Leasehold Interests. Participant acknowledges that McMoRan has heretofore entered into a retainer agreement with a Technical Consultant and may enter into similar agreements with others during the Program Term. Without the consent of Participant, McMoRan agrees not to subject any Leasehold Interests to overriding royalty burdens to its Technical Consultants which exceed the amounts deliverable to its current Technical Consultant, CLK Company, L.L.C.(CLK),under their existing agreement as described in the letter to Participant dated the date hereof. McMoRan has provided Participant with a copy of its current consulting agreement with CLK and Participant agrees that it will bear its proportionate part of the overriding royalties to which CLK is entitled pursuant to the terms of said consulting agreement as to any Leasehold Interests acquired hereunder as well as to any Leasehold Interests that Participant may acquire pursuant to an AMI agreement subject hereto.
Burdens. ANEC acknowledges that its working interest in the acreage it is committing or may subsequently acquire in the AMI may be less than 100%, and furthermore that its working interest in the AMI is burdened by overriding royalty interests, net profits interests, production payments and/or other burdens on production. The Parties hereto agree that ExxonMobil's working interest and royalty share of production from the AMI shall be free and clear of any such burdens, and all such burdens shall be borne solely by ANEC's share of production developed under the AMI.
Burdens. Except as set forth in Schedule 3.25, and except for amounts owed to Third Parties that are held in suspense and amounts disputed in good faith, Seller and its Affiliates have properly and timely paid, or caused to be paid, in all material respects, all Burdens due upon the Seller's and its Affiliates' interest in production from the Xxxxx prior to the Effective Time in accordance with the applicable Leases and Legal Requirements.
Burdens. Except as set forth in such Seller’s Schedule 9.11, if (a) such Seller or any of its Affiliates is the operator of such Assets, such Seller or its applicable Affiliates have paid or caused to be paid in accordance with applicable Law and the terms of the applicable Leases, in all material respects, all Burdens due by such Seller with respect to its interest in the Assets, and (b) neither such Seller nor any of its Affiliates is the operator of such Assets, then, to the Knowledge of such Seller, the applicable operator has paid or caused to be paid in accordance with applicable Law and the terms of the applicable Leases, in all material respects, all Burdens due with respect to such Seller’s interest in such Assets.
Burdens. Seller has not assigned, conveyed, or otherwise created any overriding royalty interest or other royalty interest, production payment, net profits interest, oil payment, or other similar burden on production from the Assets that reduces Seller’s Net Revenue Interest in any Lease during the twelve (12) months prior to the Effective Time until the Execution Date.
Burdens. The terms and conditions of this Agreement are created real and preferable burdens upon and affecting the Site and binding on the Proprietors or Proprietors of the Site from time to time and as such are appointed to be recorded or otherwise to be validly referred to in terms of law in all future conveyances, Dispositions and other deeds relating to the Site.
Burdens. Seller shall ensure that all expenses, burdens and obligations (including, without limitation, royalties, overriding royalties, rentals and other charges) attributable to the Assets that are due and payable prior to the Closing Date are properly and fully paid prior to the Closing Date.
Burdens. Seller has paid, or caused to be paid, all Burdens due by Seller with respect to the Oil and Gas Properties. As used herein, “Burden” means any and all repurchase options, reversions of interests, rentals, royalties (including lessor’s royalty), overriding royalties, production payments, net profits interests, excess royalties, minimum royalties, shut-in royalties, revenue payable to owners of working interests or wellbore interests, bonuses and other burdens upon, measured by or payable out of production.
Burdens. SELLER SHALL CONVEY SELLER'S INTERESTS IN AND TO THE ASSETS TO BUYER SUBJECT TO ALL ROYALTIES, OVERRIDING ROYALTIES, BURDENS, AND ENCUMBRANCES, WITHOUT WARRANTY OF TITLE EXCEPT AS TO ALL PERSONS CLAIMING OR TO CLAIM AN INTEREST IN THE ASSETS BY, THROUGH OR UNDER SELLER BUT NOT OTHERWISE AND NOT AS TO CLAIMS OF FAILURE OR IMPAIRMENT OF TITLE DUE TO GAPS IN PRODUCTION OR A LACK OF PRODUCTION IN PAYING QUANTITIES, AS PROVIDED IN THE FORM OF ASSIGNMENT, XXXX OF SALE AND CONVEYANCE ATTACHED AS EXHIBIT C HERETO. IMBALANCES WITH RESPECT TO OIL OR NATURAL GAS ARE GOVERNED BY ARTICLE 18 HEREOF. THE PARTIES AGREE THAT THE EXISTENCE OF ANY SUCH IMBALANCES SHALL NOT BE DEEMED A TITLE DEFECT.
Burdens. All royalties, overriding royalties, net profit interests, production payments, back-in working interests and other burdens on production from a Lease existing on the Acquisition Date of such Lease.
