Assignment; Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Contract Area, the Oil and Gas Leases, xxxxx, equipment, and production covered by this Agreement, no Party shall sell, encumber, transfer, or make other disposition of its interest in the Oil and Gas Leases embraced within the Contract Area or in xxxxx, equipment and production unless such disposition covers either:
Assignment; Maintenance of Uniform Interest. For the purpose of maintaining uniformity of ownership in the Contract Area in the Oil and Gas Leases, Oil and Gas Interests, xxxxx, equipment and production covered by this Agreement - No party shall sell, encumber, transfer or make other disposition of its interest in the Contract Area or in xxxxx, equipment or production without prior (written) notification to Operator, and unless such disposition covers the entire interest of the party in ALL of the Oil and Gas Leases, Oil and Gas Interest, xxxxx, equipment and production in the contract area. Every sale, encumbrance, transfer or other disposition made (by any party) shall be made expressly subject to this Agreement and shall be made without prejudice to the right of the other parties. No assignment or other disposition of interest by any party shall relieve said party hereunder with respect to the interest transferred, including without limitation the obligation of a party to pay all costs attributable to any operation conducted hereunder in which said party has agreed to participate prior to making such assignment and the lien and security interests granted by Article VII.B. shall continue to burden the interest transferred to secure payment of any such obligation (s).
Assignment; Maintenance of Uniform Interest. In the event any Party to this Agreement creates a necessity for separate measurement facilities by virtue of any encumbrance or conveyance, that Party and its assignees shall, alone, bear the costs of acquisition, operation, maintenance, and repairs of the facility. Every sale, encumbrance, transfer or other disposition made by any Party shall be made expressly subject to this Agreement and shall be made without prejudice to the right of the other Parties, and any transferee of an ownership interest in any Oil and Gas Lease or Interest shall be deemed a Party to this Agreement as to the interest conveyed, from and after the effective date of the transfer of ownership; provided, however, that the other Parties shall not be required to recognize any sale, encumbrance, transfer, or other disposition for any purpose until thirty (30) days after they have received a copy of the instrument of transfer or other satisfactory evidence in writing from the transferor or transferee. No assignment or other disposition of interest by a Party shall relieve the assigning Party of obligations previously incurred by that Party with respect to the interest transferred, including without limitation the obligation of that Party to pay all costs attributable to an operation conducted under the terms of this Agreement in which the Party has agreed to participate prior to making an assignment, and the lien and security interest granted by Article VII.B. (Expenditures and Liability of Parties; Liens and Security Interests) shall continue to burden the transferred interest to secure payment of any of those obligations. If, at any time the interest of any Party is divided among and owned by four or more co-owners, Operator, at its discretion, may require co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive xxxxxxxx for, and approve and pay the Parties’ share of the joint expenses, and to deal generally with, and with power to bind, the co-owners of the Party’s interest within the scope of the operations covered or subject to this Agreement; however, all the co-owners shall have the right to enter into and execute all contracts or agreements for the disposition of their respective shares of the Oil and Gas produced from the Contract Area and they shall have the right to receive, separately, payment of the sale proceeds from Oil and Gas produced. If a trustee or agent is not appointed within thirty (30) days after writte...
