AMI Lease definition

AMI Lease shall have the meaning for such term set forth in the Participation Agreement.

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AMI Lease has the meaning set forth in the Recitals.

AMI Lease means any Acquired Interest within the AMI acquired by an Acquiring Party during the Term of this Agreement and in which the Non-Acquiring Party elected to participate which was not owned or under written contract for acquisition by an Acquiring Party as of June 30, 2008, and including, without limitation, a leasehold interest in any Mineral Interests acquired during the Term of this Agreement (such Leases on the Chesapeake Group’s Mineral Interests to be at a seventy-five percent (75%) Net Revenue Interest), RESERVING AND EXCEPTING unto Chesapeake, however, the ORRI with respect thereto.

Examples of AMI Lease in a sentence

Such notice shall include a full description of the AMI Lease so acquired, a copy of the instrument by which such rights were acquired together with, all documentation relevant thereto, meaning, copies of the leases, abstracts, title memos, assignments, subleases, farm outs or other contracts affecting the AMI Lease; and the AMI Acquisition Cost as defined below, including an itemized statement thereof.
Any AMI Lease in which only one Party participates shall be free and clear of this Agreement, including its exhibits.
If Acquiring Party shall not have received notice of the election of Non-Acquiring Party to acquire its proportionate interest within the fifteen (15) day period pursuant to the terms of this Agreement, pursuant to Paragraph A.4, such failure to respond shall be deemed conclusively to be an election by Non-Acquiring Party to not acquire its interest in the AMI Lease.
If an Acquiring Party fails to give timely notice of liens or burdens associated with an AMI Lease to the Non-Acquiring Party, then the Non-Acquiring Party may elect to re-assign its interests in the AMI Lease to the Acquiring Party, and the Acquiring Party must return all monies paid by Non-Acquiring Party, along with reasonable expenses, including, without limitation, attorney fees, of the Non-Acquiring Party.
The party acquiring an AMI Lease (“Acquiring Party”), shall notify the other party (“Non-Acquiring Party”) in writing within 30 days of such acquisition.
An AMI Lease must be free and clear of liens and burdens other than such liens and/or burdens which were reserved or created by unrelated parties prior to the acquisition by the Acquiring Party and must be fully disclosed to the Non-Acquiring Party when notice is given of the acquisition of an AMI Lease.
The shares of the parties shall be: Participant: 25% PetroShare: 75% Promptly after the acceptance of the offered AMI Lease, the Acquiring Party shall invoice the Non-Acquiring Party for Non-Acquiring Party’s Share of the AMI Acquisition Costs.
If Acquiring Party does not receive the amount due from the Non-Acquiring Party within thirty (30) days after the receipt by such Non-Acquiring Party of the invoice for its costs, at Acquiring Party’s option, such failure shall constitute a withdrawal by Non-Acquiring Party of its former election to acquire the interest, and Non-Acquiring Party shall no longer have the right to acquire an interest in the offered AMI Lease.
Condor shall pay STXRA the AMI Lease Acquisition Compensation within ten (10) days after the date of closing on the applicable acquisition on the following basis: (i) eighty percent (80%) of the AMI Lease Acquisition Compensation shall be paid in cash; and (ii) twenty percent (20%) of the AMI Lease Acquisition Compensation shall be paid in shares of preferred stock of PEDCO, of such series as is being issued and sold by PEDCO at the time of the acquisition.
Such AMI Lease Information has been, and shall be, provided to PXP without warranty as to completeness or accuracy.

More Definitions of AMI Lease

AMI Lease means any Acquired Interest within the AMI acquired by an Acquiring Party during the Term of this Agreement in which the Non-Acquiring Party elected to participate, including without limitation a leasehold interest in any Mineral Interests (such Leases on the Chesapeake Group’s Mineral Interests to be at a seventy-five percent (75%) Net Revenue Interest), RESERVING AND EXCEPTING unto Chesapeake, however, the ORRI with respect thereto. 4. Amendment of Section 1.34. Section 1.34 is amended to delete the following clause: “, plus the amount of any additions pursuant to Section 4.5 of the PSA”. 5. Amendment of Section 1.36.

AMI Lease means any Acquired Interest within the AMI acquired by an Acquiring Party during the Initial Term of this Agreement and in which the Non-Acquiring Party elected to participate which was not owned as of November 1, 2009 and including, without limitation, a leasehold interest in any Mineral Interests acquired during the Initial Term of this Agreement.

AMI Lease is defined in Section 6.2(a).