Assignment of Net Profits Interest Sample Clauses

Assignment of Net Profits Interest. Owner does hereby confirm and ratify the assignment made by the Original Agreement to Xxxx, as additional interest earned in regard to the Original Xxxx Loan, of an interest in Net Profits, as hereinafter defined, of thirty-five percent (35%) from the effective date of the Original Agreement (being December 18, 1995). The interest of Xxxx in the Net Profits, as such interest exists from time to time, is herein referred to as the “Net Profits Interest”. As used in this Agreement, the term “Net Profits” shall mean the following:
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Assignment of Net Profits Interest. For and in consideration of Ten Dollars ($10.00) and other good and valuable consideration to it paid by Payee, the receipt and sufficiency of which are hereby acknowledged, the Borrower has granted, conveyed, sold and assigned, and does hereby grant, convey, sell and assign unto Payee, its successors and assigns, as of the Effective Time, the Net Profits Interest. TO HAVE AND TO HOLD the Net Profits Interest together with all and singular the rights and appurtenances thereto in anywise belonging, unto Payee, its successors and assigns, forever, subject, however, to the following terms and provisions.
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Assignment of Net Profits Interest. (a) The Conveyance. Assignor hereby transfers, conveys, assigns, sets over, and delivers the Net Profits Interest to Assignee.
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Assignment of Net Profits Interest. For and in consideration of Ten and No/100 Dollar ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged WEST TEXAS RESOURCES, INC., a Nevada corporation with an office at 0000 Xxxxxxx Xxxx, Xxxxx 000, Xxxxxx, Xxxxx 00000 (“Assignor”), does hereby GRANT, SELL, ASSIGN, TRANSFER and CONVEY to ENTEK PARTNERS, LLC, a Texas limited liability company with an office at 000 Xxxxx Xxxx Xxx Xxxx, Xxxxx 000, Xxxxxxx, Xxxxx 00000, its successors and assigns (collectively, “Assignee”) a graduated net profits interest equal to seventy-five percent (75%) of the “Net Profits” (as hereinafter defined) “Before Payout” (as hereafter defined) adjusted to fifty percent (50%) of the Net Profits “After Payout” (as hereafter defined), if any, calculated in the manner provided herein, that are attributable to the production of Subject Hydrocarbons (the “Net Profits Interest”). The conveyance of the Net Profits Interest is effective as of the 1st day of the month immediately following the month in which Assignee advances funds equal to the WC225 D-1 Recompletion AFE Amount up to a maximum of $275,000 (the “Effective Time”) or such greater amount as provided for herein. Assignor and Assignee are sometimes collectively referred to herein as the “Parties” and individually as a “Party”. To have and to hold the Net Profits Interest, together with all and singular the rights and appurtenances thereto in anywise belonging, unto Assignee and its successors and assigns forever, subject, however, to the terms and conditions set forth herein.
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Assignment of Net Profits Interest. COC shall execute and file an Assignment of Net Profits Interest substantially in the form attached as Exhibit D on all the xxxxx included in the Subject Properties within 60 days of Domain’s funding of the first Tranche. COC shall warrant its title interest in the Subject Properties in the form shown in the Assignment of Net Profits Interest attached hereto.
Sample 1

Related to Assignment of Net Profits Interest

  • Assignment of Membership Interest Contributor shall have executed and delivered to Acquirer an Assignment and Assumption Agreement, in substantially the form of Exhibit A attached hereto (the "Assignment and Assumption Agreement");

  • Assignment of Membership Interests The Assignment of Membership Interests shall have been fully executed and delivered to Purchaser.

  • Assignment of Member’s Interest The Member may freely sell, assign, transfer, pledge, hypothecate, encumber or otherwise dispose of the Member’s Units. If the member transfers all of its Units, the transferee of such Units shall automatically become a substitute Member in the place of the Member. The Board shall amend Exhibit A from time to time to reflect transfers made in accordance with this Section 14.2.

  • Assignment of Production Mortgagor does hereby absolutely and ------------------------ unconditionally assign, transfer and set over to Agent all Production which accrues to Mortgagor's interest in the Mortgaged Properties, all proceeds of such Production and all Payments in Lieu of Production (herein collectively referred to as the "Production Proceeds"), together with the immediate and continuing right to collect and receive such Production Proceeds. Mortgagor directs and instructs any and all purchasers of any Production to pay to Agent all of the Production Proceeds accruing to Mortgagor's interest until such time as such purchasers have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no purchasers of the Production shall have any responsibility for the application of any funds paid to Agent.

  • Transfer and Assignment of Interests Subject to the limitations set forth in the Holdings Operating Agreement, the Member shall be entitled at any time to sell, assign, transfer, pledge, hypothecate or encumber all or part of its interests in Company.

  • No Transfer or Assignment of Servicing With respect to the responsibility of the Primary Servicer to service the Mortgage Loans hereunder, the Primary Servicer acknowledges that the Master Servicer has acted in reliance upon the Primary Servicer’s independent status, the adequacy of its servicing facilities, plant, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof. Without in any way limiting the generality of Section 3.05 of this Agreement, the Primary Servicer shall not either assign or transfer this Agreement or the servicing hereunder nor delegate its rights or duties hereunder or any portion thereof, or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written approval of the Master Servicer, which consent will not be unreasonably withheld or delayed; provided, however, that the Primary Servicer may transfer and assign this Agreement to an Affiliate of the Primary Servicer so long as the conditions described in clauses (i), (ii), (iv) and (v) of the second paragraph of Section 3.02 of this Agreement are satisfied in connection with such transfer and assignment. Notwithstanding the foregoing, prior to any assignment or transfer by the Primary Servicer of this Agreement or the servicing hereunder (the “Primary Servicing Rights”), the Primary Servicer shall allow the Master Servicer an opportunity to bid on the purchase of such Primary Servicing Rights. The Primary Servicer may also solicit bids from any other parties independent of the Primary Servicer.

  • Assignment and Grant of Security Interest As collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of all the Obligations and in order to induce the Lenders to make Loans in accordance with the terms of the Credit Agreement, the Pledgor hereby pledges and grants to the Administrative Agent (for the benefit of the Lenders), a first priority Lien on and security interest in and to, and agrees and acknowledges that Administrative Agent has and shall continue to have, a security interest in and to, and assigns, transfers, pledges and conveys to Administrative Agent (for the benefit of the Lenders) all of Pledgor's right, title, and interest in and to the Collateral.

  • Assignment, Etc The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall be binding upon the Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.

  • Assignment of Contract Contractor shall not assign or otherwise transfer its rights under this Agreement, without the prior written consent of Client. Any attempt to make such an assignment without Client's consent shall be void. Client's consent shall not be reasonably withheld.

  • Assignment of Interest The Executive agrees to disclose immediately to duly authorized representatives of the Company any ideas, inventions, discoveries, processes, methods and improvements covered by the terms of this Section 9 and to execute, at the Company’s expense, all documents reasonably required in connection with the Company’s application for appropriate protection and registration under the federal and foreign patent, trademark, and copyright law and the assignment thereof to the Company’s nominee (s). The Executive hereby appoints the Company’s Chairman as true and lawful attorney in fact with full powers of substitution and delegation to execute acknowledge and deliver any such instruments and assignments, which the Executive shall fail or refuse to execute or deliver.

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