Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership of the interests covered by this agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the Contract Area and in the wellx, xxuipment and production unless such disposition covers the entire undivided interest of the party.
Maintenance of Uniform Interest. Except as permitted by Section 11.2 of the Purchase Agreement, for the purpose of maintaining uniformity of ownership in the AMI as among the Parties, from and after the expiration of the Drilling Carry Period, no Party shall Transfer any portion of its Joint Interests unless such Transfer covers the entirety of such Party’s Joint Interests, or an undivided percentage of such Party’s Joint Interests. Any Transfer of a Joint Interest shall also transfer a proportionate share of the transferring Party’s interest in this Agreement and all of the Applicable Operating Agreements. For the avoidance of doubt, nothing in this Section 7.4 shall prevent a Party from transferring Joint Interests in accordance with the terms and conditions of this Agreement.
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the oil and gas leasehold interests covered by this agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the leases embraced within the Contract Area and in xxxxx, equipment and production unless such disposition covers either: 1. The entire interest of the party in all leases and equipment and production; or 2. An EQUAL undivided interest in all leases and equipment and production in the Contract Area. Every such sale, encumbrance, transfer or other disposition made by any party shall be made expressly subject to this agreement and shall be made without prejudice to the right of the other parties. E.
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Development Area as among the Parties, from and after the Closing Date during the term of this Agreement, no Party shall Transfer any portion of its Joint Development Interest (other than a Transfer of an Immaterial Interest or a Transfer permitted under Section 4.1(c)(i)) unless such Transfer covers the entirety of such Party's Joint Development Interest, or an undivided percentage thereof. Any Transfer of an undivided portion of a Party's Joint Development Interest shall also include a proportionate share of the transferring Party's rights and obligations in and under this Agreement and any applicable Associated Agreement.
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Oil and Gas Interests covered by this Agreement, no party shall sell, encumber, transfer, or make other disposition of its interest embraced within the Contract Area and in the well, equipment, and production unless the disposition covers either:
Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the oil and gas leasehold interests covered by this Agreement, no party shall sell, encumber, transfer or make other disposition of its interest in the leases embraced within the Contract Area and in wxxxx, equipment and production unless such disposition covers either: (1) the entire interest of the party in all leases and equipment and production; or (2) an equal undivided interest in all leases and equipment and production in the Contract Area. Every sale, encumbrance, transfer or other disposition made by any party shall be made expressly subject to this Agreement and shall be made without prejudice to the right of the other parties. No sale or assignment of interest by any party will relieve or release such party of its obligations hereunder, and such party shall be and remain liable for all obligations incurred by it until all monies due and accounts payable attributable to its interest and accruing out of the development and operation of the lease(s) subject hereto during the period of its ownership of an interest herein, shall have been paid in full by the party assigning its interest and the Operator has been furnished with a certified copy of a recorded instrument evidencing the sale or assignment. If, at any time the interest of any party is divided among and owned by four or more co-owners, Operator, at its discretion, may require such co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive bxxxxxxx for and approve and pay such party’s share of the joint expenses, and to deal generally with, and with power to bind, the co-owners of such party’s interest within the scope of the operations embraced in this Agreement; however, all such co-owners shall have the right to enter into and execute all contracts or agreements for the disposition of their respective shares of the oil and gas produced from the Contract Area and they shall have the right to receive, separately, payment of the sale proceeds thereof.
Maintenance of Uniform Interest. Notwithstanding anything in this Agreement to the contrary, after the end of the Drilling Term for the remainder of the term of this Agreement, if any Party Transfers to any Person less than all of its Joint Development Interest (the “Transferred Interest”), then this Agreement (other than Section 5.2) shall automatically terminate with respect to such Transferred Interest and, unless the Transferring Party retains an undivided interest in such Transferred Interest, shall also terminate with respect to the non-Transferring Party’s undivided interest in such Transferred Interest. In the event of any such termination, the Parties shall take all such action as is necessary to terminate this Agreement with respect to such interests, including amending the Contract Area and making any filings in the real property records in which the Transfer Interest is located to reflect such termination.
Maintenance of Uniform Interest. Tag-Along Right; Minimum Participating Interest; Transfers by Defaulting Parties 38 Section 6.2 Requirements for Transfer 40 Section 6.3 Liability of Transferor/Transferee 41 Section 6.4 Encumbrances by Parties 42 ARTICLE 7 CONSENT TO ASSIGNMENT 42 Section 7.1 Certain Transfers during Initial Three Year Period 42 Section 7.2 Other Transfers 43 Section 7.3 Additional Consent Requirements 43 Section 7.4 Consents for Transfer of Joint Development or Party Operatorship 43
