Rights Earned Sample Clauses

Rights Earned. If (i) the Test Well is timely and properly commenced and drilled and complies in all material respects with the terms and conditions of this Agreement (including, without limitation, the evaluation of the three (3) existing well bores located on the Farmout Acreage in accordance with Section 2.5 and an election by Farmee to proceed with development of the Farmout Acreage pursuant to Section 2.5(a)); (ii) such well meets criteria that determine that it is a well capable of producing hydrocarbons in "paying quantities" pursuant to the provisions of 30 CFR Section 250.111 (which determination by the MMS Farmee agrees to diligently pursue) or if not meeting these qualifications, Farmee commits to complete the well for production; and (iii) Farmee has supplied to Farmor evidence of same and a request for an Assignment in and to the Farmout Acreage as provided below; Farmee shall earn for the drilling of such well (hereinafter referred to as an "Earning Well") an Assignment in and to the Farmout Acreage as set forth in this Article III. The requirements set forth in this Section 3.1 are herein referred to as the "Earning Requirements".
Sample 1
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Rights Earned. As of the date of this agreement, the seismic program has been completed timely, in its entirety and all costs and expenses of whatsoever nature have been paid by Enterra and 74305, and Enterra has earned the following:
Sample 1
Rights Earned. In the event that the Exploratory Well or substitute well is drilled and completed and equipped into tanks (if oil) or capped (if gas), or plugged and abandoned, and all costs and expenses attributable thereto are paid by Xxx or ninety–five percent (95%) thereof by Jed, if 74305 participates, then Jed shall earn the following:
Sample 1
Rights Earned. (a) Upon making the Buyer Payment set forth in Section 3.1, the interests in the Subject Assets shall, subject to the terms of the Term Assignment be: HSR 49.9% PIN 49.9% Others 0.2% In addition, Buyer upon making such payment to Seller or the Trustee shall earn the right to participate in and pay the costs of the activities described in Article 4 below. Forthwith after receiving the balance of the Buyer Payment, Seller shall duly execute and deliver to Buyer the Term Assignment, or if Section 3.3 is applicable shall cause the Trustee to release the Term Assignment to Buyer.
Sample 1
Rights Earned. If (i) the Test Well is timely and properly commenced and drilled and complies in all material respects with the terms and conditions of this Agreement (including, without limitation, the evaluation of the three (3) existing well bores located on the Farmout Acreage in accordance with Section 2.5 and an election by Farmee to proceed with development of the Farmout Acreage pursuant to Section 2.5(a)); (ii) such well meets criteria that determine that it is a well capable of producing hydrocarbons in "paying quantities" pursuant to the provisions of 30 CFR Section 250.111 (which determination by the MMS Farmee agrees to diligently pursue) or if not meeting these qualifications, Farmee commits to complete the well for
Sample 1

Related to Rights Earned

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance Period This Agreement shall be performed during the period which begins Oct 01 2020 and ends Sep 30 2022. All services under this Agreement must be rendered within this performance period, unless directly specified under a written change or extension provisioned under Article 14, which shall be fully executed by both parties to this Agreement.

  • Exercise of Rights; Exercise Price; Expiration Date of Rights (a) Subject to Sections 7(e), 23(b) and 24(b) hereof, the registered holder of any Rights Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or in part at any time after the Distribution Date and prior to the Close of Business on the Expiration Date by surrender of the Rights Certificate, with the form of election to purchase on the reverse side thereof duly executed, to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the Exercise Price for each one-thousandth of a Preferred Share (or, following a Triggering Event, other securities, cash or other assets as the case may be) as to which the Rights are exercised.

  • Performance Rights The Licensor here by grants to Licensee a non-exclusive license to use the Master Recording in Unlimited non-profit performances, shows, or concerts. Licensee may receive compensation from performances with this license.

  • Dividend Equivalent Rights In the event that the Company declares and pays a dividend in respect of its outstanding shares of Stock and, on the record date for such dividend, you hold Restricted Stock Units granted pursuant to this Agreement that have not been settled, the Company shall create a bookkeeping account that will track, (a) to the extent the dividend paid to stockholders generally was a cash dividend, the cash value you would have been entitled to receive as if you had been the holder of record of the number of shares of Stock related to the Restricted Stock Units that have not been settled as of the record date, or (b) to the extent the dividend paid to stockholders generally was paid in the form of property, the property you would have been entitled to receive as if you had been the holder of record of the number of shares of Stock related to the Restricted Stock Units that have not been settled as of the record date. All DER amounts credited to your bookkeeping account pursuant to this Section 3, if any, shall be deemed converted into shares of Stock on the date that the Restricted Stock Units vest (based on the Fair Market Value (as such term is defined in the Management Stockholder’s Agreement) of Stock on such date and rounded down to the nearest whole share of Stock) and paid to you in the form of additional shares of Stock on the date that the underlying Restricted Stock Units associated with such DER amounts are settled pursuant to Section 5 below. In the event that the Restricted Stock Units are forfeited to the Company without settlement to you, you will also forfeit any associated DER amounts. No interest will be payable with respect to DER amounts credited to your bookkeeping account, if any, that represent cash dividends. Property, if any, deemed credited to DER bookkeeping accounts representing dividends paid in property will be deemed invested in such property until the DER amounts are deemed converted to shares of Stock pursuant to this Section 3. The bookkeeping accounts, if any, created to track DER amounts are phantom accounts and the Company is under no obligation to set aside cash or property with respect to any DER amounts. Valuations made pursuant to this Section 3 (including any valuation of property deemed credited to a bookkeeping account) will be made by the Committee, or its designee, in its sole discretion and such valuation will be final and binding.

  • Performance Incentive 4.9.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Termination Rights This Agreement may be terminated at any time prior to the Closing:

  • Performance Incentives Provided that sufficient funds are available from athletics revenue or gifts for the unrestricted use of the Department of Athletics, Athletics Director shall be entitled to receive additional non-salary compensation from the University in the form of the following stated bonuses for increased responsibilities, provided that all varsity sports are in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Athletics Director knew or should have known. [Insert Incentives – See examples below

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