ASSIGNMENT OF WORKING INTEREST. This Assignment made this 13th day of November 2003 from PETROLEUM DEVELOPMENT CORPORATION, a Nevada Corporation, (herein called "Assignor") to PDC 2003-C, Limited Partnership, (herein called "Assignee");
ASSIGNMENT OF WORKING INTEREST. Upon Universal payment of the consideration provided for in Paragraph 3.1. above, Yuma will execute and deliver to Universal a recordable Assignment and Bill of Sale assigning to Universal an undivided Eighteen and 75/100ths percent (18.75%) of 8/8ths interest in and to the Leasehold estate created by the Leases attached on Exhibit "A", subject to (i) a proportionate share of the lessor's royalty burdening such Leases, and (ii) a reserved overriding royalty interest in and to production under the terms of such Leases equal to the difference between twenty-eight percent (28.00%) and the total of all other burdens on production under the terms of such Leases, including the lessor's royalty (the "Yuma Management Pool ORRI"). The Yuma Management Pool ORRI will include and absorb any additional burdens on production under the terms of the Leases in existence at the time of the making of an assignment to Universal of an interest therein. In the event that either of the Leases covers less than the entire mineral estate in the Prospect Area, then the Yuma Management Pool ORRI provided for herein with respect thereto shall be proportionately reduced. After retention of the Yuma Management Pool ORRI, Yuma will deliver to Universal a 72.00% net revenue interest with respect to production under the terms of the Leases, proportionately reduced to the Eighteen and 75/100ths percent (18.75%) of 8/8ths interest in and to the Leases so assigned to Universal.
ASSIGNMENT OF WORKING INTEREST. Assignor hereby assigns to the Assignees the percentage Working Interest in the Property set forth in the following table. Assignee - I Xxxxx Xxxxxxxxx, an individual 1/6 of 1% (For the first year following the effective date of this agreement, Xx. Xxxxxxxxx'x interest is increased to 1/3 of 1%) Assignee - 2 Xxxxxxx X. Xxxxxxx, an individual 5/6 of 1% Assignee - 3 Blue Diamond Marketing 2% Assignee - 4 Xxxx X. Xxxxxxx, an individual 3% The percentages or fractional percentages assigned hereunder are percentages of the entire Working Interest. After this assignment, Assignor will hold a 23-5/6% Working Interest; thereafter Assignor will hold a 24% Working Interest. For the purposes of this Agreement, Working Interest is defined as a share of the gross profits derived from the revenue generated by the mining and selling of diamonds from the Property. Gross profits are the before US tax revenues remaining from the sale of diamonds after deducting operating costs of goods sold, including all recovery, operating expenses, and taxes in Brazil. Gross profits exclude all exploration and development costs and all expenses occurring outside of Brazil, which expenses will be borne by Buyer.
ASSIGNMENT OF WORKING INTEREST. For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor agrees to assign, and does hereby transfer and assign to Assignee, or its nominee, subject to any requisite approval of the Minister of Mines and Energy of the Republic of Chad, all of its rights anx xxterest in and to the Convention, including the right of Assignor to be designated as Operator of the convention (the "Assignment"); subject, however, to the reservation and retention by Assignor of a working interest after Payout (as hereinafter defined) equal to five percent (5%) of the total working interest or any other interest then held and retained by Assignee, including cash or property received by Assignee following recovery of all direct costs heretofore or hereafter incurred by Assignee. Assignor shall assign to Assignee
ASSIGNMENT OF WORKING INTEREST. Nitro shall furnish an assignment in recordable form to Precision, as to its 37.5% Working Interest in the leases covered by Phase I of the Powder River Basin Project, its equipment and all leasehold interests attributable thereto, within 10 days of Nitro has recorded such leases in its name in the applicable county courthouse. Any assignment or confirmation shall be made without warranty of title, either express or implied.
ASSIGNMENT OF WORKING INTEREST. This Assignment mad: this 2nd day of November, 2002, from PETROLEUM DEVELOPMENT CORPORATION, a Nevada Corporation (herein called "Assignor") to PDC 2002-B, Limited Partnership, (herein called "Assignee");
ASSIGNMENT OF WORKING INTEREST. Upon Universal's payment of the consideration provided for in Paragraph 3.1. above, Yuma will execute and deliver to Universal a recordable Assignment and Bill of Sale assigning to Universal an undivided Seven and 50/100ths percent (7.50%) of 8/8ths interest in and to the leasehold estate created by the Leases, insofar as such Leases cover the Prospect Area, subject to a proportionate share of (i) the lessor's royalty burdening such Leases, and (ii) a reserved overriding royalty interest in and to production under the terms of such Leases, insofar as such Leases cover the Prospect Area, equal to the difference between twenty-eight percent (28.00%) and the total of all other burdens on production under the terms of such Leases, including the lessor's royalty (the "Yuma Management Pool ORRI"). The Yuma Management Pool ORRI will include and absorb any additional burdens on production under the terms of the Leases, insofar as such Leases cover the Prospect Area, in existence at the time of the making of an assignment to Universal of an interest therein. In the event that either of the Leases covers less than the entire mineral estate in the Prospect Area, then the Yuma Management Pool ORRI provided for herein with respect thereto shall be proportionately reduced. After retention of the Yuma Management Pool ORRI, Yuma will deliver to Universal a 72.00% net revenue interest with respect to production under the terms of the Leases, insofar as such Leases cover the Prospect Area, proportionately reduced to the Seven and 50/100ths percent (7.50%) of 8/8ths interest therein so assigned to Universal.
ASSIGNMENT OF WORKING INTEREST. Well bore Only
ASSIGNMENT OF WORKING INTEREST. After the PIF Event, Participant may assign his Interest to any Identified Party at any time upon notice to and reasonable approval by STW1. At the time of execution of the Note, Participant may designate one or more persons or entities who, upon the reasonable approval of STW, shall be considered an Identified Party or Parties as the case may be.
ASSIGNMENT OF WORKING INTEREST. Grantor may at any time, sell or otherwise dispose of all or any of its interest in the said Lands but Grantor covenants that it shall cause any Assignee or successor of the Grantor to deliver to Grantee a written and enforceable undertaking to assume the obligations of Grantor under this Agreement insofar as they relate to such interest and the obligations which accrue pursuant to the terms of this Agreement, whereupon the Grantor shall be relieved of the obligation so assumed.
