Pooling and Unitization. Mortgagor shall have the right, and is hereby authorized, to pool or unitize all or any part of the lands described in Exhibit A, insofar as relates to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagor, it is necessary or advisable to do so in order to form a drilling and/or production unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby, or to comply with the requirements of any Applicable Law or governmental order or regulation relating to the spacing of wells or proration of the production therefrom; provided, howexxx, that any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not substantially exceed 640 acres, unless a larger area is required to conform to an Applicable Law or governmental order or regulation relating to the spacing of wells or to obtain the maximum allowable production under any Applxxxxxe Law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in a uniform manner consistently applied. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Immediately after formation of any such unit, Mortgagor shall furnish to the Trustees and the Agent a true copy of the pooling agreement, declaration of pooling or other instrument creating such unit, in such number of counterparts as the Trustees may reasonably request. The interest in any such unit attributable to the Mortgaged Property (or any part thereof) included therein shall become a part of the Mortgaged Property and shall be subject to the lien hereof in the same manner and with the same effect as though such unit and the interest of Mortgagor therein were specifically described in Exhibit A. Mortgagor may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of the Agent, which consent shall not be unreasonably withheld.
Pooling and Unitization. Voluntarily pool or unitize all or any material part of their Oil and Gas Properties where the pooling or unitization would result in the diminution of any Loan Party’s net revenue interest in production from the pooled or unitized lands, except where any such pooling or unitization would increase the PV 10 Value of the associated Oil and Gas Property compared to the pre-unitized PV 10 Value unless the failure to pool or unitize such Oil and Gas Properties would not be consistent with prudent industry practices.
Pooling and Unitization. Notwithstanding anything in this Agreement, the Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Owner, provided that the Grantor, acting in a reasonable and prudent manner, determines that the pooling or unitization and the terms thereof are in accordance with prudent oil and gas industry practises.
Pooling and Unitization. The Royalty Lands are prohibited from being pooled or unitized unless the Saskatchewan Government requests that the unit be pooled pursuant to the government regulations.
Pooling and Unitization. Lessee shall have the right, at its sole option and at any time, to pool or unitize Geothermal Resources from the Property and from other properties, whether or not adjacent or contiguous, provided Lessee first obtains. Landowner's consent, which shall not be withheld unreasonably. Any change in the amount of Landowner's royalties resulting from the unitization of all or part of the Property or decrease of the Property shall not be retroactive. Not less than 60 days before commencement of commingling of Geothermal Resources from other properties, Lessee shall deliver to Landowner a detailed written description of Lessee's pooling or unitization plan. Lessee's pooling or unitization of the Property with other lands shall not discharge, diminish, release, replace, supersede or waive any of Lessee's obligations or Landowner's rights under this Agreement, except as expressly agreed to in a writing executed by Landowner in accordance with these same formalities as this Agreement is executed
Pooling and Unitization. Lessee may, without notice to or consent from Lessor, as a recurring right for drilling, development or operating purposes, pool, unitize, or otherwise combine all or part of the Premises into a unit (whether federal or voluntary contractual unit) with any other land or lands (whether held by Lessee or others), whether or not adjacent or contiguous, which Lessee desires to develop or operate (singly or in combination with others) as a unit. The execution by Lessee of any unit agreement, unit operating agreement or other documents necessary to such pooling or unitization shall be binding on the Premises and Lessor’s current and future interests therein. Lessee shall provide Lessor courtesy notice of any pooling or unitization of the Premises. Any well (whether or not Lessee’s well) commenced, drilled, drilling and/or producing or being capable of producing in any part of such unit shall for all purposes of this Lease be deemed a well commenced, drilled, drilling and/or producing on the Premises, and the Lessee shall have the same rights and obligations with respect thereto and the drilling and producing operations upon the lands from time to time included within any such unit as Lessee would have if such lands constituted the Premises leased hereunder; provided, however, that notwithstanding this or any other provision or provisions of this Lease to the contrary:
Pooling and Unitization. 10. The Lessee, subject to the approval of the Lessor, is hereby given the right to pool the Premises, or any portion thereof, or any zone or formation underlying the Premises or any portion thereof, with any other lands or any zone or formation underlying the same, but all of the lands so pooled shall not exceed one spacing unit as established by the Minister under the Oil, Gas, and Salt Resources Act. In the event of such pooling, the Lessor shall, in lieu of the royalties elsewhere herein specified, receive on production of oil or gas from the said spacing unit only such portion of the royalties stipulated herein as the surface area of the Premises placed in the spacing unit bears to the total surface area of all lands in such spacing unit. The Lessee, subject to the approval of the Lessor, may include the Premises, or any part or parts thereof, with other lands in a unitization agreement. The plan of unit operations, the manner of allocating production to each tract in the unit area, and the contents of any such unitization agreement shall also be subject to the approval of the Lessor and when so approved shall be binding upon the Lessor. Upon any such unitization agreement, the royalties elsewhere herein specified shall be paid on the basis of the production allocated to the Premises under the unitization agreement and not upon the basis of actual production from any well(s). All operations on or production of oil or gas from a spacing unit under a pooling agreement, or a unit area under a unitization agreement, shall be deemed to be operations on or production from that portion of the Premises within the spacing unit or unit area, as the case may be, in respect of the Lessee's obligations, expressed or implied under this lease. Lease Number: «DocRefNum»-OGL Liability
Pooling and Unitization. Trustor shall have the right, and is hereby authorized, to pool or unitize all or any part of any tract of land described in Exhibit A, insofar as relates to the Mortgaged Properties, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Trustor, it is necessary, advisable or desirable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Properties affected thereby, or to comply with the requirements of any law or governmental order or regulation relating to the spacing of xxxxx or proration of the production therefrom; provided, however, that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in a uniform manner consistently applied. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. The interest of Trustor in any such unit attributable to the Mortgaged Properties (or any part thereof) included therein shall become a part of the Mortgaged Properties and shall be subject to the lien hereof in the same manner and with the same effect as though such unit and the interest of Trustor therein were specifically described in Exhibit A.
Pooling and Unitization. Certain of the Subject Interests may have been pooled or unitized for the production of Hydrocarbons prior to the date hereof, and may, after the date hereof, be pooled or unitized (a) pursuant to any law, rule, regulation or order of any governmental body or official, or (b) voluntarily by Grantor with the consent of Grantee. To the extent certain Subject Interests are so pooled or unitized, such Subject Interests are and shall be subject to the terms and provisions of such pooling and unitization agreements or orders.
Pooling and Unitization. (a) Certain of the Subject Interests may have been pooled or unitized for the production of oil, gas and/or minerals prior to the Effective Date or, after the Effective Date, may be so pooled or unitized pursuant to Section 1.13(b). Such Subject Interests are and shall be subject to the terms and provisions of such pooling and unitization agreements, and the Subject Interests shall apply to (and the term "Subject Hydrocarbons" shall include) the production from such units which is attributable to such Subject Interest (and the Net Profits Account shall be computed giving consideration to such production and costs, expenses, charges and credits attributable to such Subject Interest) under and by virtue of the applicable pooling and unitization agreements.
