Production Payment definition

Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.
Production Payment means any economic interest in oil, gas or mineral reserves which (i) entitles the holder thereof to a specified share of future production from such reserves, free of the costs and expenses of such production, and (ii) terminates when a specified quantity of such share of future production from such reserves has been delivered or a specified sum has been realized from the sale of such share of future production from such reserves.
Production Payment means an assignment of an interest in a fixed quantity (measured by proceeds or by volume) of oil and gas or other hydrocarbons when produced from a specified oil and gas property or properties, in consideration for a payment in advance of production.

Examples of Production Payment in a sentence

  • CEC retains the right to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Returns Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound.

  • Mortgage, Deed of Trust, Security Agreement 2 = Release of Mortgages and Liens3 = UCC Filings and Financial Statements 4 = Abstract of Judgment5 = Overriding Royalty, Production Payment, Net Profit 6 = Liens and Lien Affidavit7 = Contracts, Agreements, and Conveyances 8 = Miscellaneous98 = Pipeline Filing Document99 = Non-Specific Document FilingsSubmittals that do not include the information, set forth above, may be returned without action.

  • As disclosed in Note 5, the Elliot Lake exploration properties were acquired from a related party that holds a 1% Uranium Production Payment Royalty and a 1% NSR Royalty on any precious or base metals payable provided that the price of uranium is greater than US$130 per pound.

  • In consideration of Maverix agreeing to Silver One’s assumption of the Production Payment, Maverix will receive US $100,000 in units of Silver One.

  • Silver One will assume a Production Payment obligation by SSR to Maverix (formerly to Kinross).

More Definitions of Production Payment

Production Payment has the meaning given to such term in the Conveyance.
Production Payment means a Dollar-Denominated Production Payment or a Volumetric Production Payment.
Production Payment means a right to oil, gas, or other minerals in place or as produced that entitles the owner of the right to a specified fraction of production until the owner receives a specified amount of money, or a specified number of units of oil, gas, or other minerals.
Production Payment means an interest in a Petroleum Property that (i) is not subject to the costs of production and (ii) terminates at such time as the interest holder has realized a specified sum from the sale of oil or gas attributable to such interest.
Production Payment means, with respect to a Transaction, the production payment or overriding royalty interest created pursuant to the Conveyance applicable to such Transaction.
Production Payment means a cash payment, distribution or dividend received by Entrée pursuant to the Joint Venture Agreement on account of Entrée’s Share of Production or Entrée’s Limited Share of Production, as the case may be, net of any deductions or withholdings imposed or levied by applicable law or any government or governmental authority or agency, and all cash payments or distributions subsequently received by Entrée on account of any such deductions or withholdings.
Production Payment means any volumetric or dollar-denominated production payment or other similar burden on the property of the Company or any Subsidiary Guarantor.