Company NRI definition

Company NRI means, with respect to any well (including any proposed well), the lesser of (i) the actual percentage net revenue interest of the
View Source
Company NRI means, with respect to any well (including any proposed well), the lesser of (i) the actual percentage net revenue interest of the Company in such well prior to the exercise of the Option by Seller with respect to such well, and (ii) 82.5% of the Company Share.
View Source

Examples of Company NRI in a sentence

  • Each of the Company and Neurologix Research, Inc., a Delaware corporation and wholly-owned Subsidiary of the Company ("NRI"), is a corporation duly organized and validly existing in good standing under the laws of the State of Delaware.

  • The Company and UPLLC have obtained all material Permits, certificates and licenses required by any Legal Requirement for the conduct of its business and the ownership of its assets.

  • Affiliated Leases-80.00% Company NRI ● Reign: 1.00% ORRI if LOR equals 18.75%; 2.00% ORRI if LOR is less than 18.75%.

  • OVERRIDING ROYALTY INTEREST: Company and Contractor agree as to the following overriding royalty interest ("ORRI") distribution, proportionately reduced: Unaffiliated Leases-79.00% Company NRI ● Reign Energy Partners, LLC ("Reign"): 2.00% ORRI ● Contractor: ORRI equal to positive difference between existing burdens of record, including Reign ORRI, and 21.00%.

  • The Company, NRI and each of their respective successors or assigns shall indemnify and hold harmless Hertzog (including, for this purpose, his heirs, legal representati▇▇▇ ▇▇▇ assigns) from and against any and all claims, liabilities, losses, damages, costs and expenses (including legal fees) asserted against or incurred by Hertzog as a result of or arising from his retention by the Company ▇▇ ▇▇▇ performance of his services hereunder, except for Hertzog's gross negligence or willful misconduct.