Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, to increase the working interest of Seller owned as of the Execution Date for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date for any of the Subject Properties:
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Pioneer Natural Resources Co), Purchase and Sale Agreement (Pioneer Natural Resources Co), Purchase and Sale Agreement (Costilla Energy Inc)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, to increase the working interest of Seller owned as of the Execution Date set forth in Exhibit "A" hereto for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date set forth in Exhibit "A" hereto for any of the Subject Properties:
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Prize Energy Resources Lp), Purchase and Sale Agreement (Pioneer Natural Resources Co)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, to increase the working interest of Seller owned as of the Execution Date set forth in Exhibit “A-1” for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date set forth in Exhibit “A-1” for any of the Subject Properties:
Appears in 1 contract
Samples: That Purchase and Sale Agreement (Tetra Technologies Inc)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, to increase the working record interest of Seller owned as of the Execution Date set forth in Exhibit "A" for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date for any of the Subject PropertiesLeases:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Pioneer Natural Resources Co)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, operate to increase the working interest of Seller owned as of the Execution Date for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, interests or decrease the net revenue interest interests of Seller owned as of the Execution Date set forth on Exhibit A-1 for any of the Subject PropertiesAssets during the duration of the life of the Assets:
Appears in 1 contract
Samples: Purchase and Sale Agreement (Tesoro Petroleum Corp /New/)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, operate to increase the working interest of Seller owned SELLER as of the Execution Date set forth on Exhibit "B" for any of the Subject Propertiesrespective Wellx, without xxthout a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned SELLER as of the Execution Date set forth on Exhibit "B" for any of the Subject Propertiesrespective Wellx:
Appears in 1 contract
Definition of Permitted Encumbrances. As used herein, the term "“Permitted Encumbrances" shall mean the following items, provided none ” means any or all of the following items shall operate, as of Closing, provided that such matters do not operate to increase reduce directly the working interest Net Revenue Interests of Seller owned as below those set forth in Exhibits A and B or increase directly the Working Interests of the Execution Date for any of the Subject Properties, Seller above those set forth in Exhibit B without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date for any of the Subject Properties:Net Revenue Interests;
Appears in 1 contract
Samples: Purchase and Sale Agreement (Ignis Petroleum Group, Inc.)
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, operate to increase the working interest of Seller owned as of the Execution Date set forth in Exhibit "A" for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date set forth in Exhibit "A" for any of the Subject Properties:
Appears in 1 contract
