Lease bonus definition
Examples of Lease bonus in a sentence
Within five (5) business days of Stone’s execution of this Participation Agreement, Stone agrees to pay MEI $352,736.00 and LLOG $352,736.00, which represents ten percent (10%) of the Lease bonus, rental and geological and geophysical costs incurred by MEI and LLOG prior to the Effective Date.
Any award for taking or damaging of all or any part of the Property under the power of eminent domain, any payment made under the threat of the exercise of such power, and any Condemnation award or payment, including but not limited to any payment for Lease bonus value, compensation for reduction in the value of the leasehold, and the taking of the fee or otherwise, shall be distributed and paid solely to Landlord.
PETRON further agrees to PARTICIPANT's desire to pay a fixed figure on a "turnkey" basis with PETRON to have all other responsibilities involved in the securing of the Oil and Gas Mineral Leases, including but not limited to the payment of Lease bonus payments, ▇▇▇▇▇▇▇ cost, legal and PETRON agrees to defend said title to all lands and leases acquired in attached Exhibit “A”, by creditor or creditors claim arising by, through or under PETRON.
Such notice shall contain (a) a statement that Empire is exercising the Lease Option, (b) a legal description of the Option Lands to be leased in connection with such exercise and (c) the appropriate Lease bonus payment calculated in accordance with Section 6 below along with (d) the applicable Lease to be executed by the appropriate parties.
In connection with any exercise of the Lease Option hereunder, the Lease bonus payment with respect to such exercise shall be $10.00 per each net mineral acre owned by the applicable BHPP Group Members in the Option Lands to be subject to the Lease in connection with the exercise, payable by check, accompanying the option notification.
Lease bonus payment(s) is the unamortized portion of a cash bonus that will not be refunded to the Insured due to the cancellation of the Insured’s lease.
Tenant shall be entitled to ------------------------------ receive any damages awarded by the court in connection with a Condemnation for (i) the Lease bonus value (the difference between the Lease rent and fair market value rent), (ii) Leasehold Improvements installed in the Premises at Tenant's expense, (iii) Tenant's moving costs, (iv) Trade Fixtures, and (v) Tenant's lost goodwill.
In connection with any exercise of the Lease Option hereunder, the Lease bonus payment with respect to such exercise shall be $30.00 per each net mineral acre owned by the applicable ▇▇▇▇▇▇▇▇ Brothers in the Option Lands to be subject to the Lease in connection with the exercise, payable by check, accompanying the option notification.