Royalty Accounts definition

Royalty Accounts means those separately identifiable accounts of Seller or any third party operator in which Seller or any third party operator is holding as of the Effective Time monies which (i) are owing to third party owners of royalty, overriding royalty, working or other interests in respect of past production of Hydrocarbons attributable to the Assets or (ii) may be subject to refund by royalty owners or other third parties to purchasers of past production of Hydrocarbons attributable to the Assets.

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Royalty Accounts means those separately identifiable accounts (and all monies contained therein) which are expressly identified and set forth in Schedule A-4 in which Seller or any third party operator is holding as of the Effective Time monies which (i) are owing to third party owners of royalty, overriding royalty, working or other interests in respect of past production of oil, gas or other hydrocarbons attributable to the E & P Assets or (ii) may be subject to refund by royalty owners or other third parties to purchasers of past production of oil, gas or other hydrocarbons attributable to the E & P Assets.

Royalty Accounts means those separately identifiable accounts which are expressly identified and set forth in SCHEDULE A-3 in which any Seller or any third party operator is holding as of the Effective Time monies which (i) are owing to third party owners of royalty, overriding royalty, working or other interests in respect of past production of Hydrocarbons attributable to the Assets or (ii) may be subject to refund by royalty owners or other third parties to purchasers of past production of Hydrocarbons attributable to the Assets, subject to Seller's release or transfer thereof in compliance with Section 8.

Examples of Royalty Accounts in a sentence

All Domestic Royalty Accounts Receivable, whether Qualified Accounts Receivable or not, shall be subject to the Lenders’ Prior Security Interest, subject to Permitted Liens, if any.
WSI hereby agrees and confirms that it has instructed the Depositary Bank to establish the Royalty Accounts in accordance with the provisions of the Royalty Agreement.
Schedule 2 sets forth all Deposit Accounts, Securities Accounts and Commodity Accounts maintained by Obligors and their Subsidiaries, including all Dominion Accounts and all Joint Royalty Accounts.
Each Borrower shall be the sole account holder of each Deposit Account (other than the Joint Royalty Accounts) and shall not allow any other Person (other than Agent or, in the case of a Joint Royalty Account, the Person named as the owner or co-owner of such Joint Royalty Account) to have control over a Deposit Account or any Property deposited therein (other than a Deposit Account exclusively used for payroll, payroll taxes or employee benefits).
As security for the prompt and complete payment and performance when due of all of the obligations of the WorldSpace Parties under the Royalty Agreement, WSI hereby grants to Stonehouse a continuing first priority security interest in and to all WSI’s right, title and interest in and to the Royalty Accounts, the proceeds thereof and any and all cash, investments and securities from time to time on deposit therein.
For any Eligible Account or Recurring Royalty Account in any Borrowing Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Accounts or Recurring Royalty Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower's Books are genuine and in all respects what they purport to be.
Within thirty (30) days of the end of each fiscal quarter, provide to Bank a royalty trend report for Borrower’s Recurring Royalty Accounts, which report shall include (i) a listing, by customer, of all royalty revenue received during such quarter and (ii) the total of all royalties generated during such quarter.
Sellers shall fund and pay over to Buyer at Closing the Royalty Accounts existing with respect to Seller-operated Subject Interests or any other Subject Interests as to which Sellers are responsible for the disbursement of the sales proceeds of Hydrocarbon production to the person entitled thereto.
Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except (i) with respect to which Lender has an Account Control Agreement and (ii) constituting Royalty Accounts.
At Closing, Buyer assumes the obligation to correctly, properly and timely disburse to the persons entitled thereto all monies comprising the Royalty Accounts.

More Definitions of Royalty Accounts

Royalty Accounts means those separately identifiable accounts (and all monies contained therein) which are expressly identified and set forth in Schedule A-4 in which Seller is holding as of the Effective Time monies which (i) are owing to third party owners of royalty, overriding royalty, working or other interests in respect of past production of oil, gas or other hydrocarbons attributable to the Assets or (ii) may be subject to refund by royalty owners or other third parties to purchasers of past production of oil, gas or other hydrocarbons attributable to the Assets.