Delay Rentals. Minimum Royalties, and Shut-in Gas Payments. El Paso shall use its reasonable commercial efforts to pay or cause to be paid in a proper and timely manner any delay rentals, minimum royalties, and shut-in gas payments, if any, which may be necessary to maintain in force and effect the Subject Leases, except any portion thereof which El Paso has determined to abandon pursuant hereto. Notwithstanding anything to the contrary herein, El Paso shall not be liable to Ramshorn for any failure to pay or the incorrect payment of any delay rentals, minimum royalty, shut-in gas payments, or any other contractual obligation, unless such failure shall be attributable to the gross negligence or willful misconduct of El Paso.
Delay Rentals. Upon receipt of a joint interest billing therefore, Universal further agrees to pay and/or reimburse Yuma for Ten and No/100ths percent (10.00%) of any delay rentals that must be paid pursuant to the terms of the Leases in order to maintain such Leases in force and effect until such time as the Initial Test Well is drilled to Casing Point. Thereafter, the payment of delay rentals under the terms and provisions of the Leases will be governed by the terms, provisions and conditions of the Operating Agreement.
Delay Rentals. GSEI represents that the Leases are in full force and effect, and further represent that all of the terms and provisions of, and all of the obligations under, the Leases have been complied with in all material respects including, but not limited to, the proper and timely payment of all delay rentals or other obligations necessary to maintain the Leases. Upon request evidence reflecting proper and timely payment of such delay rentals shall be provided to Delek. From and after the Effective Date of this Agreement the Parties shall pay, or cause to be paid, any delay rentals that become due under a Lease, as to periods from and after the Effective Date, in order to continue the Leases in full force and effect, and the Parties shall, within thirty (30) days after receipt of an invoice from the Operator, reimburse the Operator for its working interest share (for example, 75% as to Delek as opposed to the 90% carry) of any such delay rental payment covering the period from and after the Effective Date of this Agreement. Notwithstanding anything to the contrary set forth in this Agreement or in any Joint Operating Agreement, from and after the time that a Party (i) elects not to participate in the drilling of an Exploratory Well on a Phase II Prospect, Phase III Prospect or a Subsequent Phase Prospect or (ii) elects to withdraw from a Prospect, thereafter such Party shall have no liability or responsibility for any portion of lease maintenance payments, including, without limitation, delay rentals, with respect to the Leases associated with any such Prospects.
Delay Rentals. During the term of this Agreement and prior to the effective date of any Operating Agreement covering a Prospect executed by the Parties, El Paso shall pay or tender (or cause to be paid or tendered) all rentals, minimum royalties and other lease maintenance payments, if any, which may hereafter become due under the terms of the said leases covered by this Agreement in such Prospect, but shall have no liability to Participant for failure to make any such payment or tender or to make same timely or properly, unless such failure is due to the gross negligence or willful misconduct of El Paso. Prior to such effective date, El Paso will be responsible for all rental costs on the Leases within such Prospect without reimbursement from Participant. After such effective date, all rentals on the Leases within such Prospect will be paid and reimbursed in accordance with the terms of the respective Operating Agreements.
Delay Rentals. This Lease is considered fully paid up and requires no delay rentals, notwithstanding anything contained to the contrary herein.
Delay Rentals. In consideration of the cash in had paid, LESSOR agrees that LESSEE shall not be obligated, except as otherwise provided herein, to commence or continue any operations during the Primary Term. If, however, operations for drilling are not commenced on or before one year after the effective date of this lease, this lease shall then terminated as to both parties, unless on or before that date LESSEE shall pay to LESSOR the sum of dollars ($ ) per acre of the Property for the second and third years of the Primary Term, hereinafter referred to as the "Annual Delay Rental", which shall permit the operator to defer commencement of drilling operations for successive periods of twelve
Delay Rentals. It is agreed that from and after the date of this Agreement Farmee shall pay and bear any and all rentals, minimum royalties and shut-in royalty payments necessaty to maintain all leases in force and effect and shall provide Farmor with evidence of each such payment no later than thirty days prior to the applicable due date.
Delay Rentals. In consideration of the cash in had paid, LESSOR agrees that LESSEE shall not be obligated, except as otherwise provided herein, to commence or continue any operations during the Primary Term. If, however, operations for drilling are not commenced on or before one year after the effective date of this lease, this lease shall then terminated as to both parties, unless on or before that date LESSEE shall pay to LESSOR the sum of _________________ dollars ($_____________) per acre of the Property for the second and third years of the Primary Term, hereinafter referred to as the "Annual Delay Rental", which shall permit the operator to defer commencement of drilling operations for successive periods of twelve (12) months each during the life of the Primary Term. The payment of Annual Delay Rental shall be mailed or delivered to LESSOR on or before one year after the effective date of this lease, hereinafter referred to as the "Annual Delay Rental payment date."
Delay Rentals. If drilling Operations are not commenced on or before one year from the date hereof, this lease shall terminate as to both parties unless the Lessee, on or before the expiration of said one–year period, shall pay to Lessor, as set forth in Paragraph 22, the sum of Dollar/s per acre for the privilege of delaying the commencement of Drilling Operations for a period of one year. In like manner and upon like payments or tenders, the commencement of Drilling Operations may be further deferred during the primary term for successive periods of one year each. The net annual delay rental due Lessor, with Lessor’s lesser interest accounted for, shall be Dollars. All payments may be made by check of Lessee, which Lessor shall receive in advance of the lease anniversary date. Lessee will place Lessor’s lease identification number, as given above, on all payment receipts.
Delay Rentals. Seller shall pay any delay rentals, minimum rentals and/or shut-in payments on the Leaseholds which become due and payable on or before the Closing Date. Purchaser shall pay any delay rentals, minimum rentals and/or shut-in payments on the Leaseholds which become due and payable after the Closing Date.
