JMG definition
Examples of JMG in a sentence
JMG and ▇▇▇ hereby agree to enter into a Technical Services Agreement effective August 1, 2004 for ▇▇▇ to provide as a consultant to JMG all personnel (including officers) required by JMG in addition to its current employees now or in the future during the term of this Agreement, and ▇▇▇ shall further provide to JMG all required office space, business machines and office systems.
In the event that JMG desires to sell any assets (either before or after receipt of a third party offer) it shall first offer such assets to Enterra.
In the event that ▇▇▇ desires to sell any assets, other than assets earned under farmouts from Enterra and JMG pursuant to subclause 1(e), (either before or after receipt of a third party offer) it shall first offer such assets to Enterra.
This Agreement shall commence effective September 1, 2003 with respect to Enterra and ▇▇▇, and effective August 1, 2004 as it relates to JMG, and the term shall be indefinite until terminated in accordance with clause 6.
The Board of Directors of each of Enterra, ▇▇▇ and JMG has considered the potential conflict issues of the joint aspects of the respective business plans and this Agreement, and have determined that this Agreement and the efficiencies and mutual benefits arising hereunder are in the best of interests of each of Enterra, ▇▇▇ and JMG; and that potential conflicts are mitigated and minimized by the different business purposes and investor profiles of each party.
The general principles of the Joint Business Plan of Enterra, ▇▇▇ and JMG reflect the circumstance that Enterra is a royalty trust whose primary purpose is providing an income stream to its unitholders, ▇▇▇ is an oil and gas development company and JMG is an oil and gas exploration company.
Seller represents and warrants that it has the right to disclose to JMG and license the use by JMG of attached seismic data similar to the sample data attached as Exhibit I in Weston County, Wyoming and Carbon County, Utah and as further set forth in Section 8.1 of this Agreement.
If JMG elects to secure the advance as a production payment, Seller agrees to assign JMG a production payment secured by 100% of Seller’s existing or future production in the Exploration and Development Lands.
This Agreement shall be effective as of the date hereof and shall continue in effect until the Company has combined EBITDA (as defined below) of at least $1,000,000 per month for two consecutive calendar months, at which time the JMG Directors shall resign and the vacancies created by such resignations shall be filled by persons designated by the Ad-Vantage Directors.
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