TEA Interest definition

TEA Interest means: (i) an undivided percentage of the rights and obligations of the Company under the TEA Agreement, and (ii) the rights and obligations under the JOA attributable to said percent, all subject to a proportionate part of the TEA Override and the Xxxxxxx Net Production Interest together with any subsequent override, profits interest, or other interest granted by Gulf in good faith to third parties in order to explore or develop the TEA Area.
Sample 1

Examples of TEA Interest in a sentence

  • Upon receipt of the funds, Operator will assign Gulf within seven (7) days a two and one-half percent (2.5%) Block XXIV Participating Interest and a two percent (2%) TEA Interest by means of a Deed of Assignment substantially in the form of Exhibits A and B.

  • The reasons Zajac’s fifth attorney, a federal public defender, gave for his withdrawal illustrate the general difficulties Zajac’s attorneys faced.

  • This termination and voiding does not permit or entitle Gulf to the return of any funds transferred to Operator pursuant to the Agreement and Gulf stipulates and agrees that Upland may retain those funds in return for the Retained Block XXIV Participating Interest and the Retained TEA Interest and the consideration given herein.

  • Finance income related to TEA Interest income from the investment in MRPS of TEA represents income realized from the average coupon rates.

Related to TEA Interest

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Asset Interest is defined in Section 2.1(b).

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • related interest means (1) a company (other than an insured bank or a foreign bank) that is controlled by an executive officer, director, or principal shareholder or (2) a political or campaign committee that is controlled by or the funds or services of which will benefit an executive officer, director, or principal shareholder. See Section 215.11(a)(2) of

  • Derivative Interest means any derivative securities (as defined under Rule 16a-1 under the Exchange Act) that increase in value as the value of the underlying equity increases, including, but not limited to, a long convertible security, a long call option and a short put option position, in each case, regardless of whether (x) such interest conveys any voting rights in such security, (y) such interest is required to be, or is capable of being, settled through delivery of such security or (z) transactions hedge the economic effect of such interest.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Capital Interest means the proportion that a Member's positive Capital Account bears to the aggregate positive Capital Accounts of all Members whose Capital Accounts have positive balances as may be adjusted from time to time.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.