Interest owner definition

Interest owner means a person owning an entire or fractional interest of any kind or nature in oil or gas production at the time of severance, or a person who has an express, implied or constructive right to receive a monetary payment determined by the value of oil or gas production or by the amount of production.
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Interest owner means a person owning an entire or fractional interest of any kind or nature in the oil or gas at the time it is severed, or a person who has a right, either express or implied, to receive a monetary payment determined by the value of the oil or gas severed.
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Interest owner means a person owning an interest (working interest, royalty interest, payment out of production, or any other interest) in oil or gas, or in the proceeds thereof.
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Examples of Interest owner in a sentence

  • An Overriding Interest is similar to a Royalty Interest in that the Overriding Interest owner assumes none of the risk of the Producer.

  • The operator shall market the rental of available units in the Fractional Ownership Hotel to the general public and shall have a right to charge each Fractional Interest owner a reasonable fee for such marketing.

  • Each Fractional Interest owner shall have the right, in its sole discretion, to engage a rental agent of his or her choice, other than the operator, to serve as the rental agent for their Fractional Interest, but any engagement of a rental agent other than the operator shall be on a non-exclusive basis commencing sixty (60) days in advance of a time period the owner has a right to reserve and use under the governing documents for the Fractional Ownership Hotel.

  • The operator of the Fractional Ownership Hotel shall have the right and obligation to offer for public rental all time periods not reserved by a Fractional Interest owner for his or her personal use, for “Exchange Use” or for use by an owner’s permitted user sixty (60) days in advance of any such occupancy period.

  • Each Company shall participate as a leasehold cost-bearing Working Interest owner with all of its right, title and interest under each such proposal unless Seller requests, and Buyer consents in writing to, any non-consent election pursuant to Section 6.22.


More Definitions of Interest owner

Interest owner means a person owning an interest of any
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Interest owner means a person owning an entire or fractional interest of whatsoever kind or nature in the products at the time of severance from a production unit or who has a right to a monetary payment that is determined by the value of such products;
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Interest owner means the interest holder who holds an interest or the group of interest holders who hold all of the shares in an interest;
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Interest owner means a person owning an entire or fractional interest of any kind
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Interest owner means the owner of an Economic Interest or a Membership Interest.
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Interest owner means a person owning an interest
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Interest owner means a person owning an interest, which may include working interest, royalty interest, payment out of production, or any other interest, in oil or gas, or in the proceeds thereof. "Joint Operating Agreement" or "JOA" is an agreement for
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