Undeveloped Leases definition

Undeveloped Leases means Mineral Leases which are not, as of the Effective Date, producing or capable of producing in paying quantities and which will expire upon expiration of the primary term or, if applicable, any optional extension of the primary term of such lease if (a) production in paying quantities is not established prior to the expiration of the primary term or, if applicable, any optional extension of the primary term of such lease, or (b) operations to extend the primary or, if applicable, any optional extension of the primary term thereof are not commenced and in progress at the expiration of such primary term or extension thereof.
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Undeveloped Leases means Mineral Leases which are not, as of the Effective Date, producing or capable of producing in paying quantities and which will expire upon expiration of the primary term or, if applicable, any optional extension of the primary term of such lease if (a) production in paying quantities is not established prior to the expiration of the primary term or, if applicable, any optional extension of the primary term of such lease, or (b) operations to extend the primary or, if applicable, any optional extension of the primary term thereof are not commenced and in progress at the expiration of such primary term or extension thereof. “WARN Act” means the Worker Adjustment and Retraining Notification Act (29 USC § 2101 et seq.) and any similar Law. “Working Interest” means, with respect to any Person, the interest of such Person in and to a Mineral Lease or Well that is burdened with the obligation to bear and pay costs and expenses of drilling, completion, maintenance, development, and operations on or in connection with such Mineral Lease or Well, but without regard to the effect of any Lease Burdens measured by, or payable out of production therefrom. 1.2
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Undeveloped Leases means the remainder of the Leases (or portions thereof) which are not allocated or included in an Allocated Unit that is attributable to a Well;
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Examples of Undeveloped Leases in a sentence

  • All rentals payable under the Undeveloped Leases prior to the Effective Date have been timely and properly paid, and all rentals that will become payable under the Undeveloped Mineral Leases through November 1, 2013, have been or will be properly paid prior to the Closing Date.


More Definitions of Undeveloped Leases

Undeveloped Leases means all leases on undeveloped acreage owned ------------------ by the Company or any Subsidiary.
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Undeveloped Leases is defined in the definition of Assets.
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Undeveloped Leases means the remainder of the Leases (or portions thereof) which are not allocated or included in an Allocated Unit that is attributable to a Well; (ii) “Per Net Mineral Acre Price” is the per net mineral acre price or value set forth for the different areas and regions described in Exhibit “D” attached hereto, and (iii) “net mineral acre” shall mean the Xxxxx-Xxxx Parties’ undivided Working Interest in the leasehold estate created by a Lease, multiplied by the number of gross acres covered by such Lease, multiplied by the lessor’s undivided interest in the oil and gas mineral fee estate in the lands covered by such Lease. For the purpose of making the requisite Tax filings under the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder, the Xxxxx-Xxxx Parties and Buyer agree to allocate the Purchase Price (as adjusted pursuant to the provisions hereof) among the assets of the Xxxxx-Xxxx FB/M Successor and Pillar FB/M Successor, as provided in the Allocated Value. The Xxxxx-Xxxx Parties and Buyer each agree to report the federal, state and local income and other Tax consequences of the transactions contemplated herein, and to prepare and file all Tax Returns in a manner consistent with the terms of the Allocated Value and shall not take any position inconsistent therewith upon examination of any such Tax Return, in any refund claim, in any litigation, investigation or otherwise unless required to do so by applicable law. The Xxxxx-Xxxx Parties and Buyer shall confer and cooperate on any revisions to the Allocated Value, including reporting any matters that require updating (including adjustments to the Purchase Price) to be consistent with the Allocated Value.
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Undeveloped Leases mean and refer to those oil, gas and mineral leases separately identified in Exhibit A-2, which are oil and gas leases or oil, gas and mineral leases which are currently within their respective primary terms, under which no exploration activity as yet has occurred.
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Related to Undeveloped Leases

  • Undeveloped Land means (i) land owned in fee by the Company or any Subsidiary as of December 31, 2016 which at the time of determination has not been developed for commercial or residential purposes, (ii) land acquired by the Company or any Subsidiary subsequent to December 31, 2016 pursuant to a Code section 1031 like-kind exchange (in exchange for land described in clause (i) or (ii) of this definition) which at the time of determination has not been developed for commercial or residential purposes, or (iii) capital stock or other equity interests of a Subsidiary which owns as its principal asset, directly or indirectly, Undeveloped Land described in clause (i) or (ii) of this definition.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • Leaseholds of any Person means all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Assumed Leases has the meaning set forth in Section 2.6(b).

  • Leases means all present and future leases, subleases, licenses, concessions or grants or other possessory interests now or hereafter in force, whether oral or written, covering or affecting the Mortgaged Property, or any portion of the Mortgaged Property (including proprietary leases or occupancy agreements if Borrower is a cooperative housing corporation), and all modifications, extensions or renewals.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in the Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrances of the affected real property.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Subject Leases means, for any Asset Review, all 20[•]-[•] Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Real Property Leases has the meaning set forth in Section 4.7(b).

  • Leasehold Interests means all of each Borrower’s right, title and interest in and to, and as lessee, of the premises identified on Schedule 4.19(A) hereto.

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Space Leases means any Lease or sublease thereunder (including, without limitation, any Major Space Lease) or any other agreement providing for the use and occupancy of a portion of the Property as the same may be amended, renewed or supplemented.

  • Leased Properties have the meaning set forth in Section 3.16 herein.

  • Real Property Interests means all interests in Owned Real Property and Leased Real Property, including fee estates, leaseholds and subleaseholds, purchase options, easements, licenses, rights to access, and rights of way, and all buildings and other improvements thereon and appurtenant thereto, owned or held by Sellers that are used in the business or operations of the Stations, together with any additions, substitutions and replacements thereof and thereto between the date of this Agreement and the Closing Date, but excluding the Excluded Real Property Interests.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Leased Land means land which is the subject of a lease granted under section 60 or 93G; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Master Leases refers to the four second amended and restated master lease agreements, dated as of April 27, 2007, by and among the Operating Partnership and Kindred Healthcare, Inc. and Kindred Healthcare Operating, Inc.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Capitalized Leases means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.