Examples of Development Lands in a sentence
The counterparts are identical except to facilitate recordation, the counterpart recorded in each county may contain property descriptions relating only to the Subject Development Lands located in that county.
Assignor will not Transfer any Producing Well or Subject Producing Lands, or Completed Development Well or any of the Subject Interests comprising a part of the Subject Development Lands, pursuant to Sections 11.01 and 11.02 prior to Assignor satisfying the drilling obligations under Section 2.01 of the Development Agreement.
If any Subject Development Lands are located in more than one county, the description of such Subject Development Lands may be included in any one or more counterparts prepared for recordation in separate counties, but the inclusion of the same property description in more than one counterpart of this Development Agreement shall not be construed as having effected any cumulative, multiple, or overlapping interest in the Subject Lands in question.
Operator's obligation under Section 2.01(a) shall survive, even if (i) any of the Term Royalty Interest in the Subject Development Lands is Transferred or released in whole or in part by Black Stone or (ii) notwithstanding Sections 11.01 through 11.04 of each of the Term Royalty Conveyance, Operator Transfers, mortgages or pledges the Subject Development Lands or Subject Interests.
In the event that Operator acquires any additional leases ("Additional Lease") other than the Subject Interests in the AMI Areas prior to Operator's satisfaction of Operator's drilling requirements in Section 2.01, Operator and Black Stone shall execute, acknowledge, and deliver an instrument that amends this Development Agreement so that such Additional Lease will be part of the Subject Interests and Subject Development Lands hereunder.