Royalty Trust definition

Royalty Trust means a statutory trust, business trust, limited liability company, partnership or other form of legal entity to which the Borrower or one or more of its Subsidiaries grants or conveys any term or perpetual overriding royalty interests, net profits interests or other similar interests in Oil and Gas Properties in exchange for units of beneficial interest or ownership interests in such trust or other entity, or for cash.
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Royalty Trust means a statutory or business trust, the trustee of which is a financial institution not affiliated with the Borrower, to which the Borrower or one or more of its Restricted Subsidiaries conveys, or intends to convey, royalty interests, net profits interests, or other similar mineral interests in the production of hydrocarbons from properties to which no value was attributed in the then most recent determination of the Borrowing Base, in exchange for units of beneficial interests in the trust and all or part of the cash proceeds of an underwritten public offering or a similar offering under Rule 144A of the trust’s units. For the avoidance of doubt, XxxxXxxxx Mississippian Trust I, XxxxXxxxx Mississippian Trust II and XxxxXxxxx Permian Trust shall each constitute a Royalty Trust.
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Royalty Trust means an oil or gas company spins off property to its shareholders, which means it will not be taxed at the corporate level and will offer high returns to stockholders.
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Examples of Royalty Trust in a sentence

  • A signed original of this written statement required by Section 906 has been provided to the Torch Energy Royalty Trust and will be retained by the Torch Energy Royalty Trust and furnished to the Securities and Exchange Commission or its staff upon request.

  • Hooper, Senior Vice President and Trust Administrator Bank of America, N.A. A signed original of this written statement required by Section 906 has been provided to Permian Basin Royalty Trust and will be retained by Permian Basin Royalty Trust and furnished to the Securities and Exchange Commission or its staff upon request.

  • Forward-looking statements and the business prospects of San Juan Basin Royalty Trust are subject to a number of risks and uncertainties that may cause actual results in future periods to differ materially from the forward-looking statements.

  • Therefore, no reserves are currently attributed to the BP Prudhoe Bay Royalty Trust after that date.

  • The accompanying financial statements of North European Oil Royalty Trust (the “Trust”) are prepared in accordance with the rules and regulations of the SEC.Financial statement balances and financial results are presented on a modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States (“GAAP basis”).

  • Even if expected reservoir performance does not change, the estimated reserves, economic life, and future revenues attributable to the BP Prudhoe Bay Royalty Trust may change significantly in the future.

  • That I have no direct or indirect interest, nor do I expect to receive any direct or indirect interest, in the properties or in any securities of the North European Oil Royalty Trust.

  • Basis of accounting - The accompanying financial statements of North European Oil Royalty Trust (the “Trust”) are prepared in accordance with the rules and regulations of the SEC.

  • Attributable to the onshore Highlander subject interest which is the only subject interest with commercial production.# # # About Gulf Coast Ultra Deep Royalty Trust.

  • I have reviewed this Annual Report on Form 10-K of North European Oil Royalty Trust; 2.


More Definitions of Royalty Trust

Royalty Trust means equity investments that generate an income stream for investors; these primarily include natural resource assets, and pharmaceuticals and medical devices.
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Royalty Trust means a statutory trust, business trust, limited liability company, partnership or other form of
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Royalty Trust means a statutory or business trust, the trustee of which is a financial institution not affiliated with the Borrower, to which the Borrower or one or more of its Restricted Subsidiaries conveys, or intends to convey, royalty interests, net profits interests, or other similar mineral interests in the production of hydrocarbons from properties to which no value was attributed in the then most recent determination of the Borrowing Base, in exchange for units of beneficial interests in the trust and all or part of the cash proceeds of an underwritten public offering or a similar offering under Rule 144A of the trust’s units. For the avoidance of doubt, SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust shall each constitute a Royalty Trust.
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Royalty Trust means a mutual fund trust which, by virtue of the fact that since its inception, all or substantially all of its property consists of oil and gas, mineral resource royalties or other non-taxable Canadian property, would be entitled to rely on the Subsection 132(7) Exception;
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Royalty Trust as it appears in Section 8.01(l) of the Loan Agreement is deleted and the term "Texas Permian Royalty Trust" is substituted therefor.
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Royalty Trust means a mutual fund trust which, by virtue of the fact that all or substantially all of its property consists of oil and gas or mineral resource royalties, would be entitled to rely on the exception in paragraph (a) of subsection 132(7) of the Tax Act, such that it would not be subject to the Non-Resident Ownership Restriction, as described under “Special Meeting Business — Royalty Reorganization”;
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Related to Royalty Trust

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Royalty Report has the meaning set forth in Section 6.3(a).

  • Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

  • UBC means the University of British Columbia.

  • Hemp products means all products made from industrial hemp,

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Merck has the meaning set forth in the preamble.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Shire means Shire of Augusta Margaret River

  • Royalty Term has the meaning set forth in Section 8.3(b).

  • CIMA means the Cayman Islands Monetary Authority whose contact details are available from www.cima.ky;

  • Licensee has the meaning set forth in the preamble.

  • University means Guru Gobind Singh Indraprastha University, Delhi

  • Sublicensees as used herein in either singular or plural shall mean any person or entity other than an AFFILIATED COMPANY to which Company has granted a sublicense under this Agreement.

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Sublicensee means a third party to whom LICENSEE grants a sublicense of certain rights granted to LICENSEE under this Agreement.

  • Hemp product means the same as that term is defined in § 3.2-4112.

  • the Licensee means the person(s) named in the licence.

  • BMS means the Company, all related companies, affiliates, subsidiaries, parents, successors, assigns and all organizations acquired by the foregoing.

  • Steel Products means products rolled, formed, shaped, drawn, extruded, forged, cast, fabricated or otherwise similarly processed, or processed by a combination of two or more or such operations, from steel made by the open heath, basic oxygen, electric furnace, Bessemer or other steel making process.

  • Manufactured products means items and construction materials composed in whole or in part of non-ferrous metals such as aluminum; plastics and polymer-based products such as polyvinyl chloride pipe; aggregates such as concrete; glass, including optical fiber; and lumber.

  • ISIS means the department’s individualized services information system.

  • Medical school means an accredited program for the training of individuals to become physicians.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • MOI means this Memorandum of Incorporation;

  • SAP Products means Software, Documentation, SAP Materials, Services, Subscription Services, Cloud Services and Maintenance Services. “SAP SDK” means SAP software development kit that includes tools such as APIs, source code, redistributable files and instructions. “Services” means SAP’s then-current services offered under and described in detail in the applicable SAP PartnerEdge Model.