undertake definition
undertake means that an owner of production from a Subject Well takes a lesser share of Hydrocarbons produced from such Subject Well than the share which such owner is entitled to take by virtue of its ownership interest, determined without regard to any rights under any production balancing agreement or similar arrangement or any rights under common law with respect to production balancing, and “overtake” means that an owner of production from a Subject Well takes a greater share of Hydrocarbons produced from such Subject Well than the share which such owner is entitled to take by virtue of its ownership interest, again determined without regard to any rights under any production balancing agreement or similar arrangement or any rights under common law with respect to production balancing. If an owner undertakes, the amount of production not taken is “underproduction” and if an owner overtakes, the extra share of production taken is “overproduction”.
undertake has the meaning given to such term in Section 2.3(a).
undertake means ‘promise to do something’ and opposite of this will be ‘refuse’.
More Definitions of undertake
undertake means ----.
undertake means that an owner of production from a Subject Well takes a lesser share of Hydrocarbons produced from such Subject Well than the share of Hydrocarbons which such owner is entitled to take by virtue of its ownership interest, determined without regard to any rights under any production balancing agreement or similar arrangement or any rights under common law with respect to production balancing, and “Overtake” means that an owner of production from a Subject Well takes a greater share of Hydrocarbons produced from such Subject Well than the share of Hydrocarbons which such owner is entitled to take by virtue of its ownership interest, again determined without regard to any rights under any production balancing agreement or similar arrangement or any rights under common law with respect to production balancing. Adjustments due to Non-Consent Provisions, however, will not be considered Undertakes or Overtakes.
undertake means not only the performing of activities, but also the agreeing to perform them or to have them performed.
undertake responsibility for delivering agreed outcomes of Enterprise Bargaining;