BROG definition
Examples of BROG in a sentence
The percentages set forth as the Production Interests next to the respective current Dedicated W▇▇▇▇ described therein represent the percentage of production which BROG is entitled to receive in kind as a result of BROG’s ownership of interests in the underlying oil and gas lease pursuant to which the applicable Dedicated Well is maintained and operated and the subject lease is held by such Dedicated Well’s production.
BROG and BRTI mutually represent and warrant that the only Prior Contractual Commitment which exists with regard to Production Interests owned or controlled by them as of the date of execution of this Agreement within the Dedicated Area described in Exhibit B hereto is the dedication to Cantera Resources, Inc.
Notwithstanding any provision in this Agreement to the contrary, the Company’s obligation to issue the shares of Common Stock to the Purchaser pursuant to Section 2 hereof and BROG’s obligation to transfer the BROG Shares to the Purchaser pursuant to Section 2 hereof shall be conditioned on the Closing occurring and the Purchaser purchasing the $5 million of Purchased Shares.
OneNeck shall adequately identify the Client Data as Client’s property and secure the Client Data.
Investment Amount: $10,320,000 Use of Proceeds: Purchase of 1,000,000 shares of BROG at $10.32 per share (“Purchased Shares”) Commitment Fee: 50,000 Beneficial Shares (“Commitment Shares”).
The Trustee must provide written notice to BROG of the decision by the later of (i) the Option Period Termination Date or (ii) the tenth business day after the date the Trustee receives BROG's offer.
If BROG does make an offer to purchase the Remaining Royalty Interests, the Trustee must decide, based on the recommendation of the Advisor, whether to accept the offer.
If the Trustee accepts BROG's offer, BROG and the Trustee must use their best efforts to close the purchase within 30 days of BROG's receipt of notice of acceptance.
Notwithstanding the foregoing, BROG may make all required regulatory filings regarding this Agreement and its ownership in the Company, without the consent of the Company; provided, that BROG will use commercially reasonable efforts to provide the Company with an opportunity to review any Company-related disclosures contained in such filings prior to filing.
BROG acknowledges and agrees that the Purchaser’s entering into this Agreement constitutes good and valuable consideration for BROG transferring the BROG Shares to the Purchaser as an inducement to enter into this Agreement, by virtue of the benefits BROG is receiving and a stockholder of the Company.