Royalty Burdens. All of the royalty burdens associated with any of the Properties and the holders thereof are specifically identified and described in Schedule 5(g) attached hereto and neither Lakehills, Pantera nor any of their Affiliates (defined in Section 15(a)(i) below) nor any natural person related by blood, law or marriage to any other natural person associated with Lakehills, Pantera or any of their Affiliates has any royalty interest with respect to any of the Properties. Neither Pantera, Lakehills nor any of their Affiliates has any other obligation (oral or in writing) to grant any royalty burdens with respect to the Properties. The rights of the investors referred to in Section 4(c) above are not a lien on any of the Properties being conveyed to Madoff hereunder and Pantera has not made any representations to the contrary to such investors.
Royalty Burdens. In each Existing Lease and other Leases in the Project Area wherein EPM acquires its Working Interest Share, EPM will acquire such Working Interest Share subject to its proportionate share of all Burdens filed of record as of the Effective Date in the official public records of the County and/or the State Land Office of New Mexico where the Existing Leases and such other Leases in the Project Area are located. EPM agrees to be bound by all the terms and provisions of the Existing Leases and other Leases in the Project Area wherein it acquires a Working Interest Share to the extent PED is bound thereby.
Royalty Burdens. Without modifying the representations and warranties contained within this Mortgage or any of the exceptions hereto, the following are instruments under which third parties may currently have contractual or statutory rights to the surface or sub-surface covered by the Unpatented Mining Claims, and those and any similar existing or future instruments shall also constitute Permitted Encumbrances: (Royalty Burdens on URANERZ Properties Unpatented Mining Claims and Surface Use Agreements)
Royalty Burdens. (i) No Interested Parties, except for those amounts to Interested Parties as included in Exhibit B, has been or shall be granted any royalty interest or any overriding royalty interests (“ORRI”) or royalty interest rights (collectively, “Royalty Burdens”) with respect to any of the Properties, unless agreed in writing by the Parties; and (ii) neither of the Parties have any other obligation (oral or in writing) to grant any Royalty Burdens with respect to the Properties. Additionally, the Parties will not grant any Royalty Burdens with respect to the Properties to any individual or entity except to the mineral owner or leasehold owner from whom a farmout is obtained in connection with the acquisition of such Properties, unless agreed in writing by the Parties. A minimum of 75.0% (proportionately reduced) Net Revenue Interest (“NR1”) will be delivered to the Participant on the Properties as herein described after any and all Royalty Burdens. On any farmed in, leased or pooled acreage which is jointly acquired by the Parties, the NRI shall be equal to the NRI associated with each of the Properties prior to any ORRI’s except as provided in Section 2(i) herein.
Royalty Burdens. None of the interested Parties have been or shall be granted any Royalty Burdens with respect to any of the Existing Xxxxx or Properties, except for the Geologist ORRI’s as permitted herein. Neither HUSKY nor any of its Affiliates has any other obligation (oral or in writing) to grant any Royalty Burdens with respect to the Existing Xxxxx or Properties. Husky further represents that no additional Royalty Burdens were attached to the Properties other than the mineral owner royalty interests and the Royalty Burden associated with the Properties has not changed since Husky indirectly or directly acquired the Properties from the mineral owner. Additionally, no additional Royalty Burdens shall be granted to or by Husky with respect to the Properties in respect to the Participant’s undivided leasehold.
Royalty Burdens. The Royalty Burden of any Property is no greater than 22.0% and no Royalty Burden is held and/or owned directly, indirectly or for the benefit of any Related Party or owner of any Common Stock or Equity Securities.
