Spud Fee Sample Clauses
POPULAR SAMPLE Copied 5 times
Spud Fee. In addition to the amounts Liberty is required to pay pursuant to Section 3.1, Liberty shall pay to Nytis a spud fee for each Well drilled pursuant to this Agreement equal to $10,000.00, proportionately reduced to Nytis’ initial working interest in such Well (the “Spud Fee”). The Spud Fee shall be paid by wire transfer of immediately available funds in accordance with the invoicing provisions set forth in Section 4.2.
Spud Fee. If the Closing occurs, then, in addition to payment of the Purchase Price (as adjusted pursuant to this Agreement) as provided herein, Seller shall be entitled to the Spud Fee (as defined in Exhibit K) as and to the extent provided in, and subject to the terms and conditions of, Exhibit K.