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.
Appears in 5 contracts
Samples: Participation Agreement, Participation Agreement (Ridgewood Energy P Fund LLC), Participation Agreement (Ridgewood Energy O Fund LLC)
