Net Revenue Interest in Leases Sample Clauses

Net Revenue Interest in Leases. To the extent any of the Subject Leases were acquired by Sellers or their Affiliates pursuant to the Dominion PSA (such Subject Leases referred to herein as the “Dominion Heritage Leases”), the Net Revenue Interest attributable to each such Dominion Heritage Lease has not been reduced by any of Sellers or any such Affiliates between the acquisition of such Leases and the current date without a corresponding reduction in the Working Interest attributable to such Dominion Heritage Leases, except for changes or adjustments that result from the establishment of units, changes in existing units (or the participating areas therein), or the entry into of pooling or unitization agreements. Sellers have provided Buyer with Sellers’ estimated current Net Revenue Interest attributable to the Dominion Heritage Leases on Exhibit C hereto; provided, however, that Sellers and Buyer recognize that Net Revenue Interests provided on Exhibit C are for illustration only, and Buyer is not entitled to rely on the Net Revenue Interests provided on Exhibit C for any purpose.
Sample 1
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Net Revenue Interest in Leases. San Xxxxxxx shall attempt to provide CEW with leases that have a net revenue interest of seventy eight percent (78%). However should San Xxxxxxx acquire a lease which is subject to a lessor royalty as well as gross overriding royalties which cause the net revenue interest to be less than 78%, San Xxxxxxx shall not be permitted to further reduce the net revenue interest with a gross overriding royalty payable to San Xxxxxxx.
Sample 1

Related to Net Revenue Interest in Leases

  • Notice of Sales of Oil and Gas Properties In the event the Borrower or any Subsidiary intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties or any Equity Interests in any Subsidiary in accordance with Section 9.12, prior written notice of such disposition, the price thereof and the anticipated date of closing and any other details thereof requested by the Administrative Agent or any Lender.

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Production Royalty The amount of the Royalty shall be determined at the end of each month after the Effective Date. The Royalty shall be determined monthly on the basis such that payments will be determined as of and paid within thirty (30) days after the last day of each month during which Lessee produces any Geothermal Resources. The Royalty rates shall be determined as follows:

  • Production Report and Lease Operating Statements Within 60 days after the end of each fiscal quarter, a report setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to production (and the prices at which such sales were made and the revenues derived from such sales) for each such calendar month from the Oil and Gas Properties, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto and incurred for each such calendar month.

  • Sublease Rent Limitation Anything contained in this Lease to the contrary notwithstanding, Lessee shall not sublet the Leased Property on any basis such that the rental to be paid by the sublessee thereunder would be based, in whole or in part, on either (a) the income or profits derived by the business activities of the sublessee, or (b) any other formula such that any portion of the Rent would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto.

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Payment of Basic Rent Basic Rent shall be paid absolutely net to Lessor or its designee, so that this Lease shall yield to Lessor the full amount thereof, without setoff, deduction or reduction.

  • Operating Lease The parties hereto intend that this Lease shall be deemed for all purposes to be an operating lease and not a capital lease.

  • Payment of Base Rent Tenant agrees to pay the Base Rent for the Premises. Monthly Installments of Base Rent shall be payable in advance on the first day of each calendar month of the Term. If the Term begins (or ends) on other than the first (or last) day of a calendar month, the Base Rent for the partial month shall be prorated on a per diem basis. Tenant shall pay Landlord the first Monthly Installment of Base Rent when Tenant executes the Lease.

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

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