Lease Burdens definition

Lease Burdens means the royalties, overriding royalties, production payments, net profit interests, and all similar interests burdening the Leases or production therefrom, that are: (i) legally binding and enforceable at law or in equity; and (ii) the obligation with respect to which was created prior to the Effective Date, whether or not conveyed or of record prior to such date.

Lease Burdens means the royalties, overriding royalties, production payments, net profit interests, and all similar interests burdening the Leases or production therefrom.

Lease Burdens means royalties, overriding royalties (other than the Overriding Royalty Interests), net profits interests, production payments and other burdens on production.

Examples of Lease Burdens in a sentence

• Each Party's interest under this agreement in the AMI Interests, and oil and gas leases which may be acquired thereunder, shall be subject to and burdened by its proportionate share of all existing operating agreements, existing and pending pooling and spacing orders and all Lease Burdens other than Subsequently Created Burdens.

• Should Participants elect to acquire its interest, such AMI Acreage shall be assigned free of any Subsequently Created Burdens or any reservations or exceptions in excess of the Lease Burdens provided for in the Lease or burdening such Interest on the date such were acquired by Burlington.

• Should Burlington elect to acquire its interest, such AMI Acreage shall be assigned free of any Subsequently Created Burdens or any reservations or exceptions in excess of the Lease Burdens provided for in the Lease or burdening such Interest on the date such were acquired by Participants.

• Each Party's interest under this Agreement, in the Leases and Seismic Options covered hereby and the Leases acquired and to be acquired pursuant hereto, shall be subject to and burdened by its proportionate share of all existing operating agreements, existing and pending pooling and spacing orders and all Lease Burdens other than Subsequently Created Burdens.

• Apportionment among said Parties of ownership, Costs and Lease Burdens shall be in the same proportions in which Costs incurred in Drilling the well were borne.

More Definitions of Lease Burdens

Lease Burdens means the royalties, overriding royalties, production payments, net profit interests, and all similar interests burdening the Mineral Leases or production therefrom, that are legally binding and enforceable at law or in equity.

Lease Burdens means the royalty reserved to the lessor in an oil and gas lease, an overriding royalty, a production payment and any other burden upon the Working Interests.

Lease Burdens means the royalties, overriding royalties, production payments, non-participating royalties, payments out of production, reversionary interests (other than the reversion of the mineral estate to the lessor upon termination of a Lease), convertible interests, net profits interests and all other similar interests burdening a Lease.

Lease Burdens means, as to any Lease, the lessor's royalty interest, and all overriding royalty, net profits or production payment interests, reversionary interests, and/or any other interests regardless of their form or manner of calculation which burden the working interest in such Lease, including, unless otherwise stated, the Overriding Royalty Interest (as defined below).

Lease Burdens means all lessors’ royalties, overriding royalties, production payments, net profits interests, and similar contractual burdens upon, payable out of, or measured by Hydrocarbon production from a Phase I Well.

Lease Burdens means all Royalties and Overriding Royalties and such other rights to share in the Production from the Xxxxx of record as of the Effective Date, other than the Net Profits Interest.

Lease Burdens the royalties, overriding royalties, production payments, net profit interests, and all similar expense-free or carried interests burdening the Leases or production therefrom, that were conveyed or reserved prior to the Effective Date or thereafter, but made effective prior to the Effective Date, including any to be reserved in the Assignment.