Subject Hydrocarbons means all Hydrocarbons in and under and that may be produced, saved, and sold from, and are attributable to, the Subject Interests from and after the Effective Time, after deducting the appropriate share of all royalties and any overriding royalties, production payments, net profits interests and other similar charges (except the Net Profits Interest) burdening the Subject Interests as of the Acquisition Date to the extent such burdens were still in force and effect at the Effective Time, provided that, (a) there shall not be included in the Subject Hydrocarbons (i) any Hydrocarbons attributable to non-consent operations conducted with respect to the Subject Interests (or any portion thereof) as to which Grantor shall be a non-consenting party as of the Effective Time that are dedicated to the recoupment or reimbursement of costs and expenses of the consenting party or parties by the terms of the relevant operating agreement, unit agreement, contract for development, or other instrument providing for such non-consent operations (including any interest, penalty or other amounts related thereto), or (ii) any Hydrocarbons lost in production or marketing or used by Grantor for drilling, production or plant operations (including fuel, secondary or tertiary recovery) conducted solely for the purpose of producing Subject Hydrocarbons from the Subject Interests, and (b) there shall be included in the Subject Hydrocarbons any Hydrocarbons attributable to non-consent operations conducted with respect to the Subject Interests (or any portion thereof) as to which Grantor shall be a non-consenting party as of the Effective Time that are produced, saved, and sold from, and are attributable to the Subject Interests after the Effective Time from and after the recoupment or reimbursement of costs and expenses (including any interest, penalty or other amounts related thereto) of the consenting party or parties by the terms of the relevant operating agreement, unit agreement, contract agreement, contract development, or other instruments providing for such non-consent operations.
Subject Hydrocarbons means that portion of the Hydrocarbons in and under and that may be produced from (or, to the extent pooled or unitized, allocated to) Subject Lands which is attributable (after deducting all royalties, overriding royalties, production payments and similar burdens, excluding only the Production Payment, which both burden the Subject Interests at the Initial Time and are reflected in the Net Revenue Interest figures set out on Exhibit A) to the Subject Interests.
Subject Hydrocarbons means all Hydrocarbons in and under, and which may be produced and saved from, and which shall accrue or be attributable to the Subject Interests and which are produced after the Effective Date (other than Lease Use Hydrocarbons and Non-Consent Hydrocarbons where Borrower is the non-consenting party) and shall be deemed to include the proceeds of such Hydrocarbons.
Examples of Subject Hydrocarbons in a sentence
Grantee shall have no right to take in kind any Subject Hydrocarbons.
Grantor shall have exclusive charge and control of the marketing of all Subject Hydrocarbons.
Nothing herein shall prevent Grantor from granting a lien, mortgage, security interest or other charge in Grantor’s interest in any property, including the Subject Interests and the Subject Hydrocarbons.
The preceding sentence shall not apply to any agreement, indenture, bond, deed of trust, filing, application or other instrument that creates a lien, mortgage, security interest or other charge secured by not more than Grantor’s residual interest in the Subject Interests, the Subject Hydrocarbons or the proceeds from the sale of the Subject Hydrocarbons.
Assignor shall be entitled to use its reasonable discretion in making filings, for itself and on behalf of Assignee, with the Federal Energy Regulatory Commission, the Department of Energy or any other governmental body, agency, board or commission having jurisdiction, affecting the price or prices at which Subject Hydrocarbons may be Sold, and with purchasers of production, operators or others with respect to any excise tax.
More Definitions of Subject Hydrocarbons
Subject Hydrocarbons means all Hydrocarbons in and under, and which may be produced, saved and sold from, and which shall accrue and be attributable to, the Subject Interests, including plant products attributable thereto from Processing gas or casinghead gas included
Subject Hydrocarbons means the Developed Properties Subject Hydrocarbons and the Remaining Properties Subject Hydrocarbons, or if the context allows or requires, the Developed Properties Subject Hydrocarbons or the Remaining Properties Subject Hydrocarbons.
Subject Hydrocarbons means that portion of the Hydrocarbons in and under and that may be produced from (or to the extent pooled or unitized, allocated to) the Subject Interests.
Subject Hydrocarbons means that portion of the Hydrocarbons in and under and that may be produced from (or, to the extent pooled or unitized, allocated to) the Subject Lands which is attributable to the Subject Interests (determined after deducting all royalties, overriding royalties, production payments and similar burdens, excluding only the Net Profits Interest, which both burden the Subject Interests at the Commencement Time and are reflected in the Net Revenue Interest figures set out on Exhibit "A").
Subject Hydrocarbons means all Hydrocarbons in and under, and which may be produced, saved and sold from, and which shall accrue and be attributable to, the Subject Interests on and after the Effective Date, including plant products attributable thereto from Processing gas or casinghead gas included in the Subject Hydrocarbons before sale thereof (but not including products derived from processing oil).
Subject Hydrocarbons has the meaning given in the Royalty Agreement.
Subject Hydrocarbons means all Hydrocarbons produced from or attributable to the Subject Interests, after deducting therefrom all royalties, overriding royalties, production payments, net profits interests (other than the Net Profits Interest), and other burdens upon, measured by, or payable out of Hydrocarbon production from or attributable to the Subject Interests that are outstanding in third parties and reflected of record as of the date of execution of this Conveyance. For purposes of this Conveyance, there shall be excluded from the calculation of the Subject Hydrocarbons (a) all Lease Use Hydrocarbons, (b) all Non-Consent Hydrocarbons owed by WI Owner, as the non-consenting party pursuant to a Non-Consent Provision, to the consenting or participating party(ies) under the terms of such Non-Consent Provision during the applicable period of recoupment or reimbursement, and (c) all Hydrocarbons (if any) produced from any lands or subsurface intervals covered by or included in the Leases and/or pooled therewith that are not specifically described in Exhibit A.