Well Proposals Sample Clauses

Well Proposals. Except as provided in Article 9.3.3 (Proposal for Multiple Operations), each Party shall respond within thirty (30) days after receipt of the well, Rework or Recompletion proposal, but if (a) a drilling rig is on location, (b) the proposal relates to the same well or its substitute, and (c) standby charges are accumulating, a response shall be made within forty-eight (48) hours after receipt of the proposal, inclusive of Saturdays, Sundays, and federal holidays.
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Well Proposals. 7.1 Each Party shall have the right to propose xxxxx within the Program Area. The well proposal shall be communicated in writing, and shall contain at a minimum the following information:
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Well Proposals. (a) Any Party who desires to propose the drilling of a well in the Project Area shall submit such proposal in writing to the other Parties hereto, UNLESS such proposed well is already subject to the terms of another operating agreement (in which event, such other operating agreement shall control), AND EXCLUDING, without limitation, those wxxxx anticipated at Article II herein. Each Party to whom such written proposal is delivered shall have thirty (30) days from receipt of the written proposal to notify the proposing Party as to whether it elects to participate; a Party’s failure to respond within such 30-day period shall be deemed an election not to participate. At such time as the Parties have elected to participate or not participate, as the case may be, in the proposed well, the participating Parties shall sign an Operating Agreement (with the proposed well being the “Initial Well”), all as anticipated pursuant to Section 6.1 above, and the terms of this Section 6.2(a) thereafter shall be superseded by such Operating Agreement. Notwithstanding the foregoing, the Parties agree that, should any Party hereto elect not to participate in the proposed well, such non-participating Party, within thirty (30) days of the completion of such well (whether completed as a dry hole or as a producer), shall relinquish and assign to the participating Party(ies), without creating or reserving any new burdens on production, all of its right, title and interest in the regulatory spacing unit allocated thereto, BUT LIMITED to a depth of one hundred feet (100’) below the stratigraphic equivalent of the deepest depth drilled in such well.
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Well Proposals. Until such time as Participant has expended the entire Carry Amount pursuant to Section 4.3, except as provided in Sections
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Well Proposals. Except as provided in Article 9.3.3 (Proposal for Multiple Operations), each Party shall respond within __________ (___) days after receipt of the well, Rework or Recompletion proposal, but if (a) a drilling rig is on location, (b) the proposal relates to the same well or its substitute, and (c) standby charges are accumulating, a response shall be made within __________ (___) hours after receipt of the proposal, [ ] inclusive [ ] exclusive of Saturdays, Sundays, and federal holidays. Proposal for Multiple Operations When a proposal is made to conduct multiple Development Operations at separate well locations using the same rig, each Party shall respond (a) to the well operation taking precedence, within __________ (___) days after receipt of the proposal; and (b) to each subsequent well location, within __________ (___) hours after completion of approved operations at the prior location and notification thereof by Operator.
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Well Proposals. SELLER has received a well proposal from Zavanna, LLC for the drilling of the Bxxxxx 24-13 #1H well and has elected to participate in such well in writing, properly and timely delivered to Zavanna, LLC. BUYER acknowledges notice of such proposed well and agrees to assume SELLER’s position under such election to participate. SELLER agrees to notify BUYER immediately upon receipt of any additional well proposals covering the Leases and Lands which may be delivered to SELLER prior to recording of the Assignment(s) contemplated hereunder. BUYER will be responsible for notifying the proposing party of BUYER’s election as to such well proposals.
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Well Proposals. Purchaser acknowledges that Seller has elected to participate in the Xxxxxx XX 11-379 HN and Xxxxxx XX 11-380 XX xxxxx located in Section 11 of Township 1 South, Range 67 West proposed by Great Western Operating Company and that Seller has provided the well proposals to Purchaser. Purchaser agrees to assume all obligations related to such xxxxx.
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Well Proposals. Except as otherwise provided for herein, on a Prospect Area by Prospect Area basis, no well may be proposed, except by the operator: a) during the pendency of another well proposal on that Prospect Area; or b) until at least 30 days after the previous well in the Prospect Area has been completed as either a producer of oil and/or gas or as a dry hole. Such restrictions shall not apply to the extent that the proposed operations are necessary, in good faith, to acquire, maintain or hold a lease, farmin or other Mineral Interest located within the AMI. Notwithstanding anything herein to the contrary, a non-operator shall have the right to make a well proposal during the periods outlined in a) or b) above, and said proposal shall be deemed submitted for purposes of response on the first day after the expiration of such period. In the event of competing well proposals, the parties agree to meet for a technical review of each proposal and determine, in good faith, which proposal to proceed under. For purposes of this paragraph, all acreage within the AMI that is not within one of the designated Prospect Areas, shall constitute one Prospect Area, the result being that for purposes of well proposals hereunder, without the consent of all parties, one well, and no more than one well may be proposed at a time in each of: a) the Xxxxx Ranch Area; b) the Hill Ranch/Bonnerville/Xxxx Prairie Area; c) the Simsboro Area; d) the Red Oak Area; and e) the balance of the area within the AMI. Notwithstanding the above, in no event shall a party, other than the designated operator under the applicable JOA, propose more than three xxxxx on three Prospect Areas at any given time. Furthermore, no xxxxx may be proposed within 1200 feet of any currently existing producing well(s) in which either party has an interest without the prior consent of such party.
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Well Proposals. If Farmee proposes a well on any Block on which Farmor has not elected to convert its interest to a carried interest, pursuant to Clause 8 hereof, and prior to the final date for election to so convert Farmor shall, notwithstanding the provisions of Clause 8 hereof, exercise its right to elect to convert its interest in the Block on which the well is proposed to be drilled to a thirty (30%) percent carried interest within thirty (30) days of the date of receipt of notice proposing the well. If Farmor fails to elect to so convert within the said thirty (30) day period, it will have no further right to elect on such Block and such Block shall continue to be subject to the Operating Agreement.
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Related to Well Proposals

  • Superior Proposals Notwithstanding anything to the contrary set forth in this Section 5.1, from the date hereof until the Company’s receipt of the Company Shareholder Approval, the Company and the Company Board (or a committee thereof) may, directly or indirectly, or through one or more of their Representatives, participate or engage in discussions or negotiations with, furnish any non-public information relating to the Company, its Subsidiaries or Affiliates to, or afford access to the business, properties, assets, books, records or other non-public information, or to any Personnel, of the Company, its Subsidiaries or Affiliates, in each case pursuant to and subject to the entry into a customary confidentiality agreement containing confidentiality terms no less restrictive in any material respect than the terms of the Confidentiality Agreement, to any Third Person or its Representatives that has made or delivered to the Company a bona fide Acquisition Proposal after the date hereof that did not result from any breach of Section 5.1(a) (other than any breach that is immaterial in scope and effect); provided, however, that, prior to taking any such actions, the Company Board (or a committee thereof) has determined in good faith (after consultation with its financial advisor and outside legal counsel) that such Acquisition Proposal either constitutes a Superior Proposal or is reasonably likely to lead to a Superior Proposal, and the Company Board (or a committee thereof) has determined in good faith (after consultation with its financial advisor and outside legal counsel) that the failure to take the actions contemplated by this Section 5.1(b) would be inconsistent with its fiduciary duties under applicable Law; and provided further that the Company will promptly (and in any event within 24 hours) make available to the Parent and its Representatives any non-public information concerning the Company, its Subsidiaries or Affiliates that is provided to any such Third Person or its Representatives that was not previously made available to the Parent prior to or substantially concurrently (but in no event later than 24 hours after) the time it is provided to such Third Person.

  • Acquisition Proposals Except as otherwise provided in this Section 5.10, Seller agrees that neither it nor any of its Subsidiaries nor any of their respective directors, officers or employees shall, and that it shall direct its Subsidiaries and its and its Subsidiaries’ agents and representatives and use its best efforts to cause its and its Subsidiaries’ agents and representatives (including any investment banker, attorney or accountant retained by it or any of its Subsidiaries) not to, directly or indirectly, initiate, solicit or encourage any inquiries or the making of any proposal or offer with respect to a merger, reorganization (including an Alternate Plan), share exchange, consolidation or similar transaction involving (directly or indirectly), or any purchase (directly or though a proposed investment in Equity Securities, debt securities or claims of creditors) of 10% or more of the Transferred Assets Related to the Business or of the outstanding Equity Securities of Seller or any of its Affiliates directly or indirectly owning Assets Related to the Business (any such proposal or offer being hereinafter referred to as an “Acquisition Proposal” and any such transaction, an “Acquisition”); provided, however, that the foregoing shall not restrict Seller from renewing the “exit financing” of the Debtors on substantially the same terms as in effect as of March 31, 2005. Seller further agrees that neither it nor any of its Subsidiaries nor any of their respective directors, officers or employees shall, and that it shall direct its Subsidiaries and its and its Subsidiaries’ agents and representatives and use its best efforts to cause its and its Subsidiaries’ agents and representatives (including any investment banker, attorney or accountant retained by it or any of its Subsidiaries) not to, directly or indirectly, engage in any negotiations concerning, or provide any confidential information or data to or have any discussions with any Person relating to, an Acquisition Proposal, or otherwise facilitate any effort or attempt to make or implement an Acquisition Proposal. Seller agrees that it will take the necessary steps to promptly inform the Persons referred to in the first sentence of this Section 5.10 of the obligations undertaken in this Section 5.10 and to cause them to cease immediately any current activities that are inconsistent with this Section 5.10. Notwithstanding the foregoing, nothing contained in this Agreement shall prevent Seller or its board of directors (the “Board”) from:

  • Superior Proposal Section 5.4(b)........................................37

  • Acquisition Proposal “Acquisition Proposal” shall mean any offer or proposal (other than an offer or proposal made or submitted by Parent) contemplating or otherwise relating to any Acquisition Transaction.

  • Alternative Proposals Unless otherwise specified in the Data Sheet (DS nos. 5 and 6), alternative proposals shall not be considered. Where the conditions for its acceptance are met, or justifications are clearly established, UNDP reserves the right to award a contract based on an alternative proposal.

  • Notification of Acquisition Proposals If the Company or any of its Subsidiaries receives, or, to the knowledge of the Company, any of their respective Representatives, receives, any inquiry, proposal or offer that constitutes or may reasonably be expected to constitute or lead to an Acquisition Proposal, or any request for copies of, access to, or disclosure of, confidential information relating to the Company or any Subsidiary, the Company shall promptly notify the Purchaser, at first orally, and then within 24 hours, in writing, of such Acquisition Proposal, inquiry, proposal, offer or request, including a description of its material terms and conditions, the identity of all Persons making the Acquisition Proposal, inquiry, proposal, offer or request and shall provide the Purchaser with copies of all documents, correspondence or other material (whether in writing or electronic form) received in respect of, from or on behalf of any such Person. The Company shall keep the Purchaser promptly informed of the status of developments and negotiations with respect to any Acquisition Proposal or any inquiry, proposal, offer or request which may reasonably be expected to lead to an Acquisition Proposal, including any changes, modifications or other amendments to any such Acquisition Proposal, inquiry, proposal, offer or request and shall provide to the Purchaser copies of all material or substantive correspondence if in writing or electronic form, and if not in writing or electronic form, a description of the material terms of such correspondence sent or communicated to the Company by or on behalf of any Person making any such Acquisition Proposal, inquiry, proposal, offer or request.

  • Other Proposals For the avoidance of doubt, nothing in this Agreement shall require Stockholder to vote in any manner with respect to any amendment to the Merger Agreement or the taking of any action that would reasonably be expected to result in the amendment, modification or waiver of a provision of the Merger Agreement, in any such case, in a manner that (i) decreases the Exchange Ratio (other than any such decrease in accordance with Section 1.5(b) of the Merger Agreement), decreases the amount of Merger Consideration or changes the form of the Merger Consideration, (ii) imposes any material restrictions or any additional material conditions on the consummation of the Merger or the payment of the Merger Consideration to stockholders or (iii) extends the End Date. Except as expressly set forth in this Section 3, Stockholder shall not be restricted from voting in any manner with respect to any other matters presented or submitted to the stockholders of the Company.

  • Takeover Proposal 43 Tax.........................................................................26

  • Proposal Proposal means any information supplied by or on behalf of the insured, deemed to be a completed proposal form and medical questionnaire and other relevant information that the insurer may require.

  • Exclusivity; Acquisition Proposals Unless and until this Agreement will have been terminated by either party pursuant to Article X hereof and thereafter subject to Section 10.5, INT'X.xxx will not (and will use its reasonable best efforts to ensure that none of its officers, directors, stockholders, agents, representatives or affiliates) take or cause or permit any Person to take, directly or indirectly, any of the following actions with any party other than Parent and its designees: (i) solicit, encourage, initiate or participate in any negotiations, inquiries, or discussions with respect to any offer or proposal to acquire all or any significant part of INT'X.xxx's business, assets or capital stock, whether by merger, consolidation, other business combination, purchase of assets, tender or exchange offer or otherwise (each of the foregoing, an "ACQUISITION TRANSACTION"), (ii) disclose, in connection with an Acquisition Transaction, any information not customarily disclosed to any Person other than Parent or its representatives concerning INT'X.xxx's business or properties or afford to any Person other than Parent or its representatives access to its properties, books, or records, except in the ordinary course of business and as required by law or pursuant to a governmental request for information, (iii) enter into or execute any agreement relating to an Acquisition Transaction, or (iv) make or authorize any public statement, recommendation or solicitation in support of any Acquisition Transaction or any offer or proposal relating to an Acquisition Transaction other than with respect to the Merger PROVIDED, HOWEVER, that (a) INT'X.xxx may furnish or cause to be furnished information concerning INT'X.xxx and its businesses, properties or assets to a Person, (b) the Company may engage in discussions or negotiations with such Person, (c) following receipt of a proposal or offer for an Acquisition Transaction, may make disclosure to its stockholders and may recommend such proposal or offer to its stockholders and (d) following receipt of a proposal or offer for an Acquisition Transaction the Board of Directors of INT'X.xxx may enter into an agreement in principle or a definitive agreement with respect to such Acquisition Transaction, but in each case referred to in the foregoing clauses (a) through (d) only to the extent that the Board of Directors of INT'X.xxx shall conclude in good faith after consultation with outside legal counsel that such action is necessary or appropriate because failure to take such action would be inconsistent with the fiduciary duties owed by the Board of Directors to the stockholders of INT'X.xxx under applicable law; and PROVIDED, FURTHER, that the Board of Directors of INT'X.xxx shall not take any of the foregoing actions referred to in clauses (a) through (d) without prior written notice to Parent with respect to such action. In the event that INT'X.xxx is contacted by any third party expressing an interest in discussing an Acquisition Transaction, INT'X.xxx will promptly notify Parent of such contact and the identity of the party so contacting INT'X.xxx.

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