Carry Commitment definition

Carry Commitment means the Carried Interest, which shall be in the amount of $10,000,000;
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Examples of Carry Commitment in a sentence

  • The Additional Carry Commitment Default Payment are liquidated damages, a genuine pre-estimate of damages resulting from such default, and not a penalty.

  • If HWN provides Epsilon with notice of its election to proceed with the Additional Drilling Program (the “Additional Drilling Program Election”) prior to the expiry of the Carry Period, then: (i) HWN shall complete the Additional Drilling Program; (ii) Epsilon shall fund the Additional Carry Commitment; (iii) the Term shall be extended by the Additional Carry Period; and (iv) Article 2 shall apply to the Additional Drilling Program mutatis mutandis.

  • The Operator shall ensure that the proportion of the Carry Commitment plus the Additional Carry Commitment is no greater than $2,500,000 under the initial AFE for any Well or ▇▇▇▇▇ on the Viking Lands, subject to the normal course obligation of Epsilon to pay its proportionate share of any overages under such AFE.

  • For greater certainty, if the Additional Carry Commitment is not funded by Epsilon due to HWN not completing the Additional Drilling Program or issuing the related AFEs, then Epsilon shall not be in default of this Section 4.2.

  • There are no restrictions on assignment of this Agreement, other than that Epsilon shall not be permitted to transfer its rights and obligations under this Agreement to any third party prior to fulfillment of the Carry Commitment, without the prior written consent of HWN.

  • If, upon receipt of the Additional Drilling Program Election, Epsilon fails to deliver the Additional Carry Commitment in accordance with Section 2.3(c), mutatis mutandis subject to the replacement of “December 1, 2025” with “December 1, 2026”, then Epsilon shall be liable and make payment to HWN in the amount of $2,000,000, less any Additional Carry Commitment costs already paid by Epsilon (the “Additional Carry Commitment Default Payment”).

  • For greater certainty, if the Carry Commitment is not funded by Epsilon due to HWN not completing the Drilling Program or issuing the related AFEs, then Epsilon shall not be in default of this Section 2.3(c).

  • The Additional Carry Commitment Default Payment shall be paid in cash by wire transfer within thirty (30) days of the expiry of the Additional Carry Period.

  • Successors and Assigns of Issuer Bound by Indenture...........64 SECTION 11.04.