P&NG Leases definition

P&NG Leases means, collectively, any and all documents of title including leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm-out, farm-in, royalty, purchase or other agreements by virtue of which the Borrower or any Subsidiary thereof is entitled to explore for, drill for, recover, take or produce Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any Subsidiary thereof (as applicable), or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any Subsidiary thereof (as applicable), and the rights of the Borrower or a Subsidiary thereof (as applicable) thereunder.
Sample 1Sample 2Sample 3
P&NG Leases means, collectively, any and all documents of title including, without limitation, leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm out, farm in, royalty, purchase or other agreements by virtue of which the Borrower or any Restricted Subsidiary is entitled to explore for, drill for, recover, take or win Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or Restricted Subsidiary (as applicable), or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or Restricted Subsidiary (as applicable), and the rights of the Borrower or Restricted Subsidiary (as applicable) thereunder;
Sample 1
P&NG Leases means, collectively, any and all documents of title including leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm-out, farm-in, royalty, purchase or other agreements by virtue of which the Borrower or any other Obligor is entitled to explore for, drill for, recover, take or produce Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any other Obligor, or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any other Obligor, and the rights of the Borrower or any other Obligor thereunder.
Sample 1

Examples of P&NG Leases in a sentence

  • Subject to Permitted Encumbrances, the Canadian Borrower and each of its Subsidiaries has good and marketable title to its P&NG Rights and P&NG Leases and to its other material property, except to the extent that failure to have such title would not have or would not reasonably be expected to have a Material Adverse Effect.

  • The Borrower shall, and shall cause its Subsidiaries to, comply with the P&NG Leases relating to P&NG Rights, except to the extent that failure to so comply does not and would not be reasonably expected to have a Material Adverse Effect.

  • All rents, royalties and other payments due and payable under each of the P&NG Leases and any contracts and other instruments constituting a part of the Collateral have been duly paid.

  • Union has subleased its rights under the P&NG Leases that cover the proposed Designated Storage Area for the Jacob Pool to Liberty Oil and Gas Ltd.

  • At the request of the Lender from time to time, provide to the Lender certified copies of all Material Contracts and Material Licences and all P&NG Leases.

  • The Borrower shall ensure that all of the P&NG Rights which comprise or relate to proved or probable reserves (including any related P&NG Leases and related facilities, infrastructure and tangibles) are directly owned by the Borrower or its Wholly-Owned Subsidiaries or any combination thereof.

  • Perform or cause to be performed all obligations under all leases relating to its Property (including without limitation the P&NG Leases and Production Facilities), including payment of rentals, royalties, taxes or other charges in respect thereof which are necessary to maintain all such leases in good standing in all material respects, provided that this covenant will not restrict their right to surrender leases which are uneconomic to maintain with prior written notice of such surrender to the Lender.

  • To the best of the Borrower’s knowledge, after due inquiry, all P&NG Leases, P&NG Rights, processing contracts, franchises, licenses and other agreements described as part of the Collateral are valid and subsisting and are in full force and effect and all of the express or implied terms or provisions of such rights, contracts, franchises, licenses and other agreements, and all Applicable Laws, rules and regulations applicable thereto have been complied with.

  • No agreement, whether written or oral, exists pursuant to which any Person has a call upon, option to purchase or similar right with respect to future production from or allocable to the P&NG Leases other than pursuant to Approved Marketing Contracts.

  • Other than the P&NG Leases, a list of each Obligor’s leased real property is as set forth in Schedule 7.1(v).

Related to P&NG Leases

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Facility Leases means agreements for the lease by the Company or any of its Subsidiaries or Joint Ventures of real estate utilized as a vehicle parking facility and/or for ancillary parking and transportation services.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Real Property Leases means all leases, sub-leases, licenses or other agreements, in each case, pursuant to which any Group Company leases or sub-leases any real property.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • Real Property Lease means any lease, sublease, license or other Contract with respect to Real Property.

  • Lease Agreements shall have the meaning set forth in Section 3.14.

  • Material Leases has the meaning set forth in Section 3.7(a).

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Subject Leases means, for any Asset Review, all 20[•]-[•] Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

  • Real Estate Leases is defined in Section 4.7.

  • Equipment Leases has the meaning set forth in Section 2.1.9.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Assigned Leases has the meaning specified in Section 2.01(b).