Farmout and Royalty Procedure definition

Farmout and Royalty Procedure means the form of the 1997 CAPL Farmout and Royalty Procedure completed as to the schedule of elections, rates and modifications thereunder which is attached hereto as Schedule “B”
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Farmout and Royalty Procedure means the 1997 CAPL Farmout and Royalty Procedure with insertions as set forth in Schedule “B”;
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Farmout and Royalty Procedure means the 1997 CAPL Farmout and Royalty Procedure incorporating the elections and revisions hereto which are set forth in Schedule “B” attached hereto and made a part of this Agreement;
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Examples of Farmout and Royalty Procedure in a sentence

  • The 1997 CAPL Farmout and Royalty Procedure, 1990 CAPL Operating Procedure, and 1988 PASC Accounting Procedure (the “Accounting Procedure”) are incorporated in and are deemed to form a part of this Agreement, and shall be read with the elections and modifications thereto made by Schedules “C”, “D” and “E”, respectively.

  • Kerretts (2004:59) acknowledges that convergence of authorizations issuance is also fast becoming the case in Organisation for Economic Cooperation and Development countries where convergence directives have been issued suggesting that a single regulatory framework be formed in place of the separate agencies.

  • It offers a rather context-specific analysis of the interaction between the Canadian Association of Petroleum Landmen Farmout and Royalty Procedure (the CAPL Procedure), the parties’ Farmin Agreement, and a subsequent amending agreement.

  • However, given that the C.J.E.U. sticks to the commentaries of the Model Convention, an intermediary company involved into back-to-back financing should not be denied the status of a beneficial owner merely because it will pass the majority of the interest received to its parent company.

  • If there is a conflict between the terms of the Farmout and Royalty Procedure and this Agreement or the Operating Procedure and this Agreement, the terms of this Agreement shall prevail.

  • Provided the Farmee has advanced the Development Funds and otherwise completed its obligations under paragraph 2 hereof, the Farmee shall, subject to Article 3.00 of the Farmout and Royalty Procedure, have earned 66.67% (the "Earned Interest") of the Farmor's working interest in the Farmin Lands.

  • The operations and this agreement shall be governed by the Farmout and Royalty Procedure, the Operating Procedure and the Accounting Procedure, subject to the elections herein incorporated and this head agreement.

  • Finish Drilling the Test Well to Contract Depth and evaluate to the reasonable satisfaction of Farmor in accordance with the Farmout and Royalty Procedure and Farmee shall have the earlier of 4 days from receipt of wireline logs for the Test Well or January 31, 2007 by which it will make its election in writing to Farmor to either Drill the Option Well, with such well to reach Contract Depth during the 2006/2007 winter *** *** Page 10 drilling season, or, not to Drill the Option Well.

  • Table 2 presents the results obtained in the test of the model involving team performance.

  • The 1997 CAPL Farmout and Royalty Procedure, 1990 CAPL Operating Procedure, and 1988 PASC Accounting Procedure (the "Accounting Procedure") are incorporated in and are deemed to form a part of this Agreement, and shall be read with the elections and modifications thereto made by Schedules "C", "D" and "E", respectively.

Related to Farmout and Royalty Procedure

  • Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

  • Royalty Agreement means the amended royalty agreement between the Partnership, Vermilion, 1209963 Alberta Ltd. and the Trust dated January 22, 2003 providing for the creation of the Royalty;

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Third Party Royalties means royalties payable by either Party to a Third Party in connection with the manufacture, use or sale of Franchise Products.

  • Royalty Report has the meaning set forth in Section 6.3(a).

  • Sublicense Fees means all upfront fees, milestone payments and similar license fees received by LICENSEE from its Sublicensees in consideration for the grant of a Sublicense, but excluding:

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Development Report means a written account of Licensee’s progress under the Development Plan having at least the information specified on Appendix B to this Agreement, and shall be sent to the address specified on Appendix B.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Single-state license means a nurse license issued by a party state that authorizes practice only within the issuing state and does not include a multistate licensure privilege to practice in any other party state.

  • JOA has the meaning given to such term in the Recitals to this Agreement.

  • Mining Plan means a mining plan drawn in accordance with clause (b) of sub-section

  • petroleum agreement means an agreement for the purpose of petroleum activities entered into by Government and another person in accordance with this Act;

  • Net Smelter Returns means the Gross Value of all Minerals, less the following costs, charges and expenses paid or incurred by Payor with respect to the refining and smelting of such Minerals:

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • License Type means the type of license granted be it a perpetual license or subscription license for a specified duration, such information being as specified in the Notification Form.

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.2.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements (including any series of related leases with the same lessor) under which a Person leases, subleases or licenses or otherwise acquires or obtains rights to produce Hydrocarbons from real property interests.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Project area plan means a written plan that, after the plan's effective date, guides and controls the development within a project area.

  • Sublicense Agreement means any agreement or arrangement pursuant to which Licensee (or an Affiliate or Sublicensee) grants to any third party any of the license rights granted to the Licensee under the Agreement.