Assignment and Assumption of Rights. 2.1 In exchange for the consideration stated herein, Apache hereby agrees to assign and transfer to Ridgewood, concurrent with the execution of this Agreement, and Ridgewood hereby agrees to accept, an assignment of twenty-five percent (25%) of Apache’s one hundred percent (100%) Working Interest rights in the Lease (those right granted pursuant to the Farmout Agreement), together with a corresponding Net Revenue Interest associated with each Party’s respective Working Interest.
Assignment and Assumption of Rights. 4.1 Newfield will obtain Apache's written consent to assignment, by Newfield to Ridgewood, of a 50.00% interest in the rights, duties and obligations conferred by the Option Agreement and Farmout Agreement.
Assignment and Assumption of Rights. 4.1 Upon Ridgewood’s participation pursuant to the terms and conditions set forth herein and upon the Parties drilling the Test Well or its substitute, reaching Contract Depth, Ridgewood will have earned under the Agreement and shall receive from Newfield an assignment of an undivided 40% working interest in the Contract Area, in the form attached hereto as Exhibit C.
Assignment and Assumption of Rights. 4.1 The interest assigned to Ridgewood pursuant hereto will be subject to its proportionate share of the federal 18.75% royalty and a proportionately reduced 2% ORRI in favor of Newfield Exploration Company. The interest shall be free and clear of any other overriding royalty interest, production payments, or other burdens on production.
Assignment and Assumption of Rights. 4.1 Newfield has obtained the WC 593 Owners' written consent to assignment, by Newfield to Ridgewood, of a 43.28499% interest in the rights, duties and obligations conferred by the Option Agreement and Farmout Agreement.
Assignment and Assumption of Rights. 2.1 In exchange for the consideration stated herein, (SOM. hereby agrees to assign and transfer to Ridgewood, concurrent with the execution of this Agreement, and Ridgewood hereby agrees to accept, an assignment of an undivided fifty three and one-third percent (53,33333%) of Participation Agreement dated March 28, 2005 Between GOM Shelf LLC and Ridgewood Energy Corporation Page 5 GOM's undivided thirty seven and one-half percent (37.50000%) Working Interest in the Lease insofar as it encompasses the Prospect Area, being a net undivided Working Interest of twenty percent (20.00000%), with a corresponding Net Revenue Interest of sixteen and two-thirds percent (16.66667%).
Assignment and Assumption of Rights. At and after the Effective Time, TBC hereby assigns and delegates to the Holding Company all of TBC's rights and obligations under that certain Amended and Restated Rights Agreement, dated July 23, 1998, between TBC and BankBoston, N.A., as Rights Agent (the "Rights Agreement"). The Holding Company hereby accepts such assignment and assumes all of the obligations of TBC under the Rights Agreement. Each issued and outstanding right under the Rights Agreement to purchase Series A Junior Participating Preferred Stock, $.10 par value, of TBC, shall automatically become a right under the Rights Agreement to purchase the same number of shares of Series A Junior Participating Preferred Stock, $.10 par value, of the Holding Company, having the powers, rights, and preferences set forth in the Certificate of Incorporation of the Holding Company.
Assignment and Assumption of Rights. The Company hereby transfers and assigns all of its rights to Projects in progress, including without limitation the contracts and Requests for Proposal set forth on Exhibit A (collectively, the “Project Documents”) in connection with the Projects to MS. MS hereby accepts the aforesaid assignment and assumes all of the Company’s obligations under such Projects and the Project Documents with respect to the Projects.
Assignment and Assumption of Rights. 1.1 EM Laboratories hereby assigns and transfers all of its rights to the Debenture and the Debenture Shares under the Purchase Agreement to Merck.
Assignment and Assumption of Rights. 2.1 In exchange for the consideration stated herein, (SOM. hereby agrees to assign and transfer to Ridgewood, concurrent with the execution of this Agreement, and Ridgewood hereby agrees to accept, an assignment of an undivided fifty three and one-third percent (53,33333%) of <PAGE> Participation Agreement dated March 28, 2005 Between GOM Shelf LLC and Ridgewood Energy Corporation Page 5 GOM's undivided thirty seven and one-half percent (37.50000%) Working Interest in the Lease insofar as it encompasses the Prospect Area, being a net undivided Working Interest of twenty percent (20.00000%), with a corresponding Net Revenue Interest of sixteen and two-thirds percent (16.66667%). 2.2 The Parties shall execute and deliver an assignment evidencing the above in the form attached as Exhibit "F" to the Initiative. Following such assignment, the net Working Interests in the Lease or portion thereof shall be: GOM: 17.50% Ridgewood: 20.00% BP America Production Company: 37.50% Chevron/Texaco Exploration & Production, Inc: 25.00% Total 100.00% ARTICLE 3
