Common use of Acreage or Cash Contributions Clause in Contracts

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the Drilling Parties shared the cost of drilling the well. That acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the party’s share of produced substances, the consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 2 contracts

Samples: Golden Lane Participation Agreement (New Source Energy Partners L.P.), Golden Lane Participation Agreement (New Source Energy Corp)

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Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s 's share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 2 contracts

Samples: Operating Agreement (EV Energy Partners, LP), Operating Agreement (EV Energy Partners, LP)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 2 contracts

Samples: Purchase and Sales Agreement, Purchase and Sales Agreement (Imperial Petroleum Inc)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become be come a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of a well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s 's share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Farmout Agreement (PetroSouth Energy Corp.)

Acreage or Cash Contributions. While this agreement is in force, if any party Party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party Party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party Party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party Party shall promptly notify all other parties Parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the party’s share of produced substances, the consideration shall not be deemed a contribution as contemplated in this Article VIII.C.OPERATING AGREEMENT

Appears in 1 contract

Samples: Operating Agreement (Megawest Energy Corp.)

Acreage or Cash Contributions. While this agreement Agreement is in force, if any party Party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the contribution shall be paid to the party Party who conducted the drilling or other operation and shall be applied by it against the cost of the drilling or other operation. If the contribution be is in the form of acreage, the party Party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the Drilling Parties shared the cost of drilling the well. That The acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreement. Each party Party shall promptly notify all other parties Parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above These provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party Party contracts for any consideration relating to disposition of the partyParty’s share of produced substances, the consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Operating Agreement (West Texas Resources, Inc.)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Operating Agreement (EV Energy Partners, LP)

Acreage or Cash Contributions. While this tins agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreement. tins agreement Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s 's share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in m this Article VIII.C.

Appears in 1 contract

Samples: Operating Agreement (American Standard Energy Corp.)

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Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender render an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. Area The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the party’s share of produced substances, the consideration shall not be deemed a contribution as contemplated in this Article VIII.C..

Appears in 1 contract

Samples: Operating Agreement (Belden & Blake Corp /Oh/)

Acreage or Cash Contributions. While this agreement Agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it its against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreement. Each party shall promptly notify notice all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Operating Agreement (Egpi Firecreek, Inc.)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract AreaArea of Mutual Interest, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area of Mutual Interest and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract AreaArea of Mutual Interest. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area of Mutual Interest which are in support of well drilled inside the Contract AreaArea of Mutual Interest. If any party contracts for any consideration relating to disposition of the such party’s 's share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Joint Development Agreement (Independence Energy Corp.)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly pro mptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of a well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.Section 8.3.

Appears in 1 contract

Samples: Asset Purchase Agreement (Saga Energy, Inc.)

Acreage or Cash Contributions. While this agreement is in force, if any party contracts for a contribution of cash towards the drilling of a well or any other operation on the Contract Area, the such contribution shall be paid to the party who conducted the drilling or other operation and shall be applied by it against the cost of the such drilling or other operation. If the contribution be in the form of acreage, the party to whom the contribution is made shall promptly tender an assignment of the acreage, without warranty of title, to the Drilling Parties in the proportions the said Drilling Parties shared the cost of drilling the well. That Such acreage shall become a separate Contract Area and, to the extent possible, be governed by provisions identical to this Agreementagreement. Each party shall promptly notify all other parties of any acreage or cash contributions it may obtain in support of any well or any other operation on the Contract Area. The above provisions shall also be applicable to optional rights to earn acreage outside the Contract Area which are in support of well drilled inside the Contract Area. If any party contracts for any consideration relating to disposition of the such party’s 's share of substances produced substanceshereunder, the such consideration shall not be deemed a contribution as contemplated in this Article VIII.C.

Appears in 1 contract

Samples: Operating Agreement (Explortex Energy Inc.)

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