AMI Term definition

AMI Term means (i) for all lands within the AMI, the term of this Agreement, plus (ii) for the Initial Interests and all Drilling Rights and/or AMI Interests jointly acquired by the PARTIES during the term of this Agreement, until June 1, 2014 (“AMI Extension”); provided, however, that, during the AMI Extension, the geographic area applicable to the rights and obligations of the PARTIES shall be limited, for purposes of Section II above, to each Governmental Section in which the jointly owned Initial Interests, Drilling Rights and/or AMI Interests are located and the AMI shall terminate at the end of the term of this Agreement as to all other lands not included within such Governmental Sections.
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AMI Term has the meaning given it in Section 6.9.
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AMI Term means the three (3) year period immediately following the Effective Date.
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Examples of AMI Term in a sentence

  • During the AMI Term, if either Party acquires any Leases within the AMI (“AMI Leases”), the other Party shall have the right to acquire its share of such AMI Leases in accordance with the terms and conditions hereof.

  • This Agreement shall terminate at the expiration of the AMI Term except as to any Prospect Area covered or deemed covered at such time by a JOA between the Parties, and as to each such Prospect Area the terms hereof, other than those set out in Sections 2.1 through 2.4, shall remain in force and effect for so long as the applicable JOA remains in force and effect.

  • Within 60 days of the earlier to occur of the end of the AMI Term or Full Termination, Brigham shall reimburse Aspect for any part of the Initial Deposit ▇▇ ▇▇▇ Subsequent Deposits which were not utilized to obtain Acquired Interests hereunder.

  • Similarly, during the AMI Term Aspect shall continue to have the same elections as to continued participation as the immediately preceding Subsequent Deposit runs out until such time as Aspect elects either Partial Termination or Full Termination.

  • The period from the Effective Date to the expiration of the respective Party’s rights and obligations under the AMI, as applicable, shall be referred to as the “AMI Term.” Following expiration of the AMI Term as to each party, the AMI shall be contracted to only include any horizontal well that is drilled pursuant to this Agreement during the AMI Term and that is producing oil and/or natural gas in paying quantities, and then only to the Drillsite Spacing Unit which includes that well.

  • To the extent any oil and gas leases within the AMI are obtained by either party under the provisions of Article X during the AMI Term, as defined in Article X, then subject to the terms of this Agreement, those oil and gas leases shall also be considered part of the Farmout Area and included as Leases.

  • If a Party or any of its Affiliates acquires an interest in any AMI Lands during the AMI Term, such acquisition shall be subject to the provisions of this Agreement.

  • Upon the expiration of the New Mexico Lease Renewal Period, any acquisition of interests within the lands described below by either Party would be deemed an AMI Acquisition if during the AMI Term and handled accordingly.

  • All AMI Interests arising during or relating to the AMI Term shall be subject to this Agreement.

  • After the expiration of the AMI Term, this Agreement shall terminate as to all of the acreage contained within the contract areas designated by the JOA's, except as to the Leases, Additional Leases, or any other leases acquired during the AMI Term, which are either wholly or partially contained within a Producing Unit.


More Definitions of AMI Term

AMI Term shall have the meaning assigned to it in Section 2.1(b).
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AMI Term means a period of three years commencing on the Execution Date.
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AMI Term means the period following the Effective Date and continuing for a period of three (3) years thereafter;
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AMI Term shall have the meaning set forth in Article XI.
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AMI Term has the meaning given such term in Section 5.2 herein.
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Related to AMI Term

  • Initial Term has the meaning set forth in Section 7.1.

  • Project Term means the period from the Signature Date to the Expiry Date or the Termination Date, whichever occurs first;

  • Research Term has the meaning set forth in Section 3.2.

  • Collaboration Term has the meaning set forth in Section 2.1.

  • Development Term means the period commencing on the Closing Date and ending on the earlier of (a) the Option Closing Date or (b) the date the Option terminates or expires other than by exercise.