Release Clause Clause Samples
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Release Clause. At the expiration of the primary term, or upon cessation of the continuous development program, if applicable, this lease shall ipso facto terminate as to all lands covered hereby, SAVE AND EXCEPT one hundred sixty (160) acres surrounding each oil and gas covered lease shall continue in force and effect as to the proration unit surrounding each well required to obtain such full allowable. Lessee shall, within thirty (30) days after the expiration of this lease or parts hereof, file of record in the office of the County Clerk of Webb ▇▇▇nty, Texas, an instrument releasing this lease insofar as said lease has terminated, specifically describing by metes and bounds or other proper legal description the retained unit for each producing well and the depth which may be retained by Lessee thereunder. In the event Lessee shall fail to either designate a unit or units or fail to release acreage and/or horizons of record within sixty (60) days after the expiration of this lease by Lessee filing such designation or release in the Office of the County Clerk of Webb ▇▇▇nty, Texas, then Lessors shall notify the Lessee of its failure and if within thirty (30) days of the date of such written notice by certified mail to Lessee, Lessee does not designate unit or units or release the acreage or horizons by filing a proper instrument in the Office of the County Clerk of Webb ▇▇▇nty, Texas, then Lessor shall make the designation of unit or units or release of acreage and/or horizons by filing the instrument designating the unit or units or release of acreage and/or horizons in the Office of the County Clerk of Webb ▇▇▇nty, Texas, and such designation and/or release by Lessors shall be binding upon the Lessees. 8 At such time as a partial termination of this lease occurs under the provisions of this paragraph, each such retained unit as to which said lease has not terminated shall be considered as a separately leased tract, in the same manner as if Lessor had executed separate and distinct leases covering each such retained unit. Lessee shall not be obligated to protect against drainage, if any, between and among "separately leased tracts". Notwithstanding a partial termination of this lease under the above provisions, it is agreed that Lessee shall have and retain such easements of ingress and egress over those lands originally covered hereby as shall be necessary to enable Lessee to develop and operate the portion or portions of this lease then in effect for the production o...
Release Clause. The School Administration of Saint ▇▇▇▇▇▇▇ School, in consultation with the Pastor and the School Board of Education, reserves the right to amend this handbook when circumstances warrant it. Parents will be promptly notified, in writing, of any such amendment, which will simultaneously be promulgated in an announcement to all students. ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Harrisburg Pennsylvania 17111-3710 (▇▇▇) ▇▇▇-▇▇▇▇ • FAX (▇▇▇) ▇▇▇-▇▇▇▇ ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇
Release Clause. ARTIST will be granted a release from contracted date with written or faxed notice (With respect but not limited to 30 Days Notice) for the purpose of furthering the ARTIST’s career such as but not limited to the following: TV, movie, concert tours, videotaping, and record promotion. Should ARTIST cancel all monies received will be returned. Should ARTIST cancel performance for reasons beyond their control he/or she shall not incur any liability from such failure but shall make all reasonable efforts to remedy such default or return all monies unearned with no further cost or penalty to either party.
Release Clause. At the request of the buyer, the seller undertakes to release the securities to which he is entitled according to the above conditions at his discretion if the realisable value of the securities exceeds the claims to be secured by more than 20%.
Release Clause. After FY 2023, San Juan County may terminate this contract without penalty or repercussions if annual appropriations, as part of San Juan County’s annual public budgeting process, are not made or are insufficient to pay the Service Provider.