Farmout & Royalty Procedure definition

Farmout & Royalty Procedure means the 1997 CAPL Farmout & Royalty Procedure incorporated by reference herein, subject to the elections and amendments set forth on Schedule ''8" attached hereto;
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Farmout & Royalty Procedure means the Head Agreement. The following clauses are not incorporated as a conflicts clause and superseding clause are provided for in the clauses entitled “Supersedes Previous Agreements” and “Conflicts” of the Head Agreement”: 107 (Conflicts) 2801 (Supersedes Previous Agreements).
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Farmout & Royalty Procedure means the 1997 CAPL Farmout & Royalty Procedure.
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Examples of Farmout & Royalty Procedure in a sentence

  • These clauses may be customized by each company depending on the circumstances, and may include: AMI may consider using a modified version of applicable provisions in the 1997 CAPL Farmout & Royalty Procedure.

  • Taxpayer will violate the normalization requirements of section 168(i)(9) of the Code if the EDFIT reserves, which Taxpayer has removed from their regulatory books of accounts, are used, directly or indirectly, to reduce their rate base or cost of service (or treat it as zero cost of capital).

  • When the presiding officer informed the Election Commission they sent 14 polling officers.

  • During that time those subsequent operations are outstanding, the Farmee is afforded a recognized conditionally earned status.If the agreement for which the earning letter is being written does not use the concept of conditional earning for capped or abandoned wellbores as envisioned by the 1997 CAPL Farmout & Royalty Procedure, one would make modifications.

  • Perhaps a sentence could be added to the effect that certain post-earning obligations still need to be met by the Farmee at its sole cost, risk and expense despite earning.1. The 1997 CAPL Farmout & Royalty Procedure provides the Farmor with an election to retain its ORR if the earning well is abandoned.

  • It should be noted, it will often be advantageous in farmout or overriding royalty agreements to address the royalty allocation methodology for horizontal wells drilled between royalty lands and other lands using relative horizontal length, for example, to avoid a separate negotiation and agreement for each such well (e.g., Clause 5.03 of the draft 2015 CAPL Farmout & Royalty Procedure).

  • The address for service of each party hereto for notices issued pursuant to this Agreement, and the Farmout & Royalty Procedure is as follows: Farmor: Harvest Operations Corp.

  • For example, the 2 gas royalty percentages reflect the cash versus take in kind percentages referenced in 5.01(A)(b) Alternate 2 of the 1997 CAPL Farmout & Royalty Procedure.

  • In this Agreement, unless the context otherwise requires, or unless otherwise defined herein, the definitions contained in Clause 1.01 of the Farmout & Royalty Procedure shall apply and, in addition, the following definitions shall apply.

  • However, surrounding neighbors have expressed the desire to preserve the area as open space.


More Definitions of Farmout & Royalty Procedure

Farmout & Royalty Procedure means the standard form 1997 CAPL Farrnout & Royalty
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Farmout & Royalty Procedure means this Schedule.
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Related to Farmout & Royalty Procedure

  • Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Expedited Deliverability Study means a deliverability study that an eligible Developer may elect to pursue as that term is defined in OATT Section 25 (OATT Attachment S) that may determine the extent to which an existing or proposed facility satisfies the NYISO Deliverability Interconnection Standard at its requested CRIS level without the need for System Deliverability Upgrades. The schedule and scope of the study is defined in Sections 25.5.9.2.1 and 25.7.1.2 of this Attachment S.

  • Net Smelter Returns means the gross proceeds received by the Purchaser in any year from the sale of Product from the mining operation on the Property, less:

  • Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Third Party Royalties means any royalties or license fees owing to a Third Party attributable to the manufacture, use or sale of Products and in consideration of a license under any patent which such Product would otherwise infringe.

  • Development Report means a written account of Licensee’s progress under the Development Plan having at least the information specified on Appendix B to this Agreement, and shall be sent to the address specified on Appendix B.

  • Royalty Agreement means the amended royalty agreement between the Partnership, Vermilion, 1209963 Alberta Ltd. and the Trust dated January 22, 2003 providing for the creation of the Royalty;

  • Net Smelter Return means the aggregate proceeds received by the Optionee from time to time from any smelter or other purchaser from the sale of any ores, concentrates, metals or any other material of commercial value produced by and from the Property after deducting from such proceeds the following charges only to the extent that they are not deducted by the smelter or other purchaser in computing the proceeds:

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Royalty Report shall have the meaning set forth in Section 7.1.

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.2.

  • Feasibility Study means the evaluation and analysis of the potential of a project, which aims at supporting the process of decision-making by objectively and rationally uncovering its strengths and weaknesses, opportunities and threats, as well as identifying the resources required to carry it through and ultimately its prospects for success;

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Sublicense Revenue means any payments or other consideration that CTI actually receives from a Sublicensee as consideration for the grant of a Sublicense, including, without limitation, milestone payments, license fees, license maintenance fees and equity. Sublicense Revenue excludes (i) purchases of equity or debt of TGTX, (ii) payments made for GTX’s performance of any research, Development, or Commercialization of any Licensed Product, (iii) (b) royalties on Net Sales (or, in the case of a profit sharing deal structure, shares of net profits) which are covered in Section 5.9, and (iv) any payment or reimbursement of any costs or expenses incurred by TGTX for filing, prosecution, maintenance, or defense of any DFCI Patents. In the event such consideration received from a Sublicensee is not cash, Sublicense Revenue shall be calculated by TGTX based on the fair market value of such consideration, at the time of the transaction, assuming an arm’s length transaction made in the odinary course of business.

  • Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • Sublicense Revenues means all revenue, in whatever form but excluding sublicense royalties, earned by the Licensee in consideration of its granting a Third Party a sublicense to make a Licensed Product including, without limitation, receipt of annual milestone attainment, sublicense issuance, maintenance or up-front payments, or technology access fee; and issuance of securities or real, personal or intangible property.

  • Royalty Rate means the percentage defined in Exhibit B.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Mining Xxx 0000 means (unless the context otherwise requires) the Mining Xxx 0000 and the amendments thereto and the regulations made thereunder as in force on 31st December, 1981;