Acquired Interest definition
Acquired Interest has the meaning set forth in the recitals to this Agreement.
Acquired Interest has the meaning set forth in Section 9.2(a).
Acquired Interest has the meaning set forth in the Recitals of this Agreement.
Examples of Acquired Interest in a sentence
Option to Receive Shipper’s Subsequently Acquired Interest in Gas from Existing and Future ▇▇▇▇▇ in the Area of Interest.
By way of clarification, the Acquired Interest must not be subject to any Liens.
At the Closing and subject to and upon the terms and conditions of this Agreement, ▇▇▇▇▇▇▇▇ shall sell, transfer and deliver to LMP, and LMP shall purchase and acquire from ▇▇▇▇▇▇▇▇, all right, title and interest in and to all of the Acquired Interest, free and clear of all Liens (other than restrictions on transfer imposed by the Securities Act and state securities laws and except as set forth in Schedules 2.21 and 2.32) in consideration for the Purchase Price.
In reliance upon the representations and warranties of ▇▇▇▇▇▇▇▇ contained herein, and on the terms and subject to the conditions herein set forth, LMP agrees that at Closing it will purchase the Acquired Interest from ▇▇▇▇▇▇▇▇.
The Partnership shall contribute the Acquired Interest to the Operating Company, in exchange for 500 units, representing limited liability company interests in the Operating Company.
More Definitions of Acquired Interest
Acquired Interest has the meaning set forth in the Recitals.
Acquired Interest shall have the meaning given in Section 8.1.
Acquired Interest shall have the meaning ascribed to the term in Section 1.1 hereof.
Acquired Interest shall have the meaning set forth in Section 6.2(c).
Acquired Interest means, to the extent located within the AMI Area, any and all (a) leases or leasehold interests affecting, relating to or covering any hydrocarbons in place, (b) leasehold interests and estates in the nature of working or operating interests under such leases, as well as overriding royalties, net profits interests, production payments, carried interests, rights of recoupment and other interests in, under or relating to such leases, and/or (c) any economic or contractual rights, options or interests in and to any of the foregoing, whether vested or contingent, including, without limitation, any farmout or farmin agreement; provided, however, the term “Acquired Interest” shall not include any (i) any fee mineral interests, fee royalty interests and any non-participating royalties and other similar interests in hydrocarbons in place (that are not acquired or derived from any leasehold interests), (ii) any other interest in hydrocarbons in place, (iii) any and all rights and interests attributable or allocable thereto by virtue of any pooling, unitization, communitization, production sharing or similar agreement, order or declaration (iv) any interests in any wellbores to the extent such wellbores are producing hydrocarbons as of the date of the applicable Acquisition of such interests by the Acquiring Party, (v) any interests described in subparts (a) through (c) of this definition INSOFAR AND ONLY INSOFAR as such interests are allocated to any w▇▇▇▇ described in subpart (iv) of this definition, or (vi) any interests described in subparts (a) through (c) of this definition to the extent the aggregate Net Revenue Interest in such interest are equal to or less than the product of (i) 75% multiplied by (ii) the actual Working Interest in such interests.
Acquired Interest as defined herein), covering any acreage within the legal description of the Contract Acreage set forth in Exhibit 1 and including lands located in Wasatch County, Utah within the following legal description: Wasatch County, Utah in the Uintah Special Meridian Township 5 South, Range 10 West, Sections: 1-36 the acquiring party (hereinafter referred to as "Proposing Party") shall promptly notify the non-acquiring party (hereinafter referred to as "Non- Proposing Party") of such Acquired Interest and shall attach a copy of the instrument evidencing the same, together with all title materials in its possession and an itemized statement of the acquisition costs attributable to each such Acquired Interest. Such acquisition costs shall exclude any overhead, financing or other internal costs incurred by the Proposing Party. The Non- Proposing Party shall have the option to acquire its proportionate share as set forth in Article I for Participant 85% and 15% of any interest offered for Pioneer, of the Acquired Interest by notifying the Proposing Party of its election in writing within fifteen (15) days (seventy-two (72) hours exclusive of Saturdays, Sundays, and legal banking holidays in the event an oil and gas rig is drilling or standing by accumulating charges anywhere within the proposed area in which the Acquired Interest is located) after receipt of such offer. Failure of a Non-Proposing Party to so notify the Proposing Party in the specified time period shall be deemed an election not to participate. Should the Non-Proposing Party elect to acquire its proportionate share of the Acquired Interest, such party shall within thirty (30) days of its election, pay to the Proposing Party its share of the acquisition costs or assume its proportionate share of any contractual commitment necessary to earn such Acquired Interest. Upon such payment, the Proposing Party shall promptly execute and deliver to the Non-Proposing Party an assignment, in customary form and containing a "By, Through and Under" Warranty as to title of the leasehold interest assigned. If the Proposing Party does not receive timely payment from the parties who elect to so participate, the Proposing Party may give such non-paying parties certified written notice that failure to receive such payment in five (5) days shall be deemed an election by such non-paying party to not participate in the acquisition of such interest.
Acquired Interest means any interest, by purchase, assignment or otherwise, in the lands within the AMI which interest includes the right to explore, develop or produce hydrocarbons from the Haynesville Shale formation, including any Leases, production payment, net profits, or carried working interests, including the contractual right to acquire any such interests, and Mineral Interests, excepting Substitute Acreage and Farmouts. Acquired Interests shall include those Leases within the AMI acquired by a Party via merger, business consolidation, or acquisition of the assets of another entity. It is anticipated by the Parties that Chesapeake will act as lead leasing Party for Acquired Interests within the AMI; however, nothing shall preclude PXP from independently acquiring an Acquired Interest upon mutual agreement of Chesapeake; provided however, that Chesapeake’s mutual agreement shall not be required in the event that PXP desires to acquire (via merger, business consolidation or acquisition of an entity or its assets) any entity whose Haynesville Shale assets represent less than fifty percent (50%) of the entities enterprise value.