Call on Production. To the Tribe, the option and exclusive right, at any time, at all times and from time to time, to purchase all oil and gas, casinghead gas, other hydrocarbons and minerals which may be produced and saved from the leased acreage. Payment for any oil, distillate, condensate and other liquid hydrocarbons purchased hereunder shall be made at the prevailing price offered by responsible purchasers for production of similar kind and quality in the area where produced at the time such production is taken for purchase. Payment for gas and casinghead gas purchased hereunder shall be made at the highest wellhead price under contracts for the sale of production of similar kind and quality prevailing in the area at the time such option and right are initially exercised. The Tribe hall exercise this option by giving Lessee sixty (60) days written notice of its exercise of said option, which exercise is to remain in operation and effect until canceled by written notice from Tribe to Lessee.
Call on Production. The option and exclusive right, at any time, at all times and from time to time, to purchase all oil and gas, casinghead gas, other hydrocarbons and minerals which may be produced and saved from the leased acreage. Payment for any oil, distillate, condensate and other liquid hydrocarbons purchased hereunder shall be made at the prevailing price offered by responsible purchasers for production of similar kind and quality in the area where produced at the time such production is taken for purchase. Payment for gas and casinghead gas purchased hereunder shall be made at the highest wellhead price under contracts for the sale of production of similar kind and quality prevailing in the area at the time such option and right are initially exercised. The Lessors shall exercise this option by giving Lessee sixty (60) days written notice of its exercise of said option, which exercise is to remain in operation and effect until canceled by written notice from Lessors to Lessee.
Call on Production. (a) On Oil - If not already reserved by another party, Seller hereby reserves, at its option, the option to buy any and all oil and other liquid hydrocarbons produced from or attributable to the Assets from the Effective Date to May 1, 2000 at 7:00 a.m.
(b) Applicable price - The price to be paid shall be:
(i) Seller's posted market price at the wellx xxx oil or condensate, or if Seller has no posted price at the well prevailing in the field where produced for substance of like grade and gravity. If there are no such posted price, the price to be paid by Seller will be the average price being paid by purchasing companies in the field or locality where the Assets are located for substance of like grade and gravity.
(ii) Seller shall never be required to pay a price higher than the price allowed by State or Federal statutes or regulations in effect at the time of purchase.
Call on Production. There are no calls on production affecting the Leases, Xxxxx, Units or other interests included within the Oil and Gas Properties of the Loan Parties and their respective Subsidiaries.
Call on Production. Intentionally Omitted
Call on Production. At the Closing Date, no party shall have any call upon, option to purchase or similar rights under any agreement with respect to the production of the Property from or attributable to the Assets.
Call on Production. No party has any call upon, option to purchase or other preferential purchase right with respect to hydrocarbon production from or attributable to the Buyer's Leasehold and Facilities.
Call on Production. (a) On Oil - If not already reserved by another party, Unocal hereby reserves, at its option, exercisable at any time and from time to time for twenty (20) years after the date hereof, the option to buy any and all oil and other liquid hydrocarbons produced from or attributable to the Assets. If Unocal elects to exercise this option, it shall so notify Buyer in writing at least thirty (30) days before its purchases are to begin. Such purchases shall continue until terminated by Unocal with at least thirty (30) days written notice thereof to Buyer. Notwithstanding the foregoing, (i) when Unocal has exercised its option for a call on crude oil, condensate or liquid hydrocarbons, and a bona fide written offer is received by Buyer from an unaffiliated third party for a price higher than the posted market price by Unocal for crude oil and condensate, Unocal shall elect whether or not to meet this higher offer, (ii) if Unocal elects not to meet this higher offer, Unocal shall temporarily waive its call rights for the period of such price differential and (iii) Unocal shall be deemed to permanently waive the rights reserved under this Section 16.10(a) if Unocal has not exercised any of such rights within any consecutive two-year period following the Closing.
Call on Production. This Agreement is specifically made subject to the provisions and conditions of that certain Agreement of the Purchase and Sale of Domestic Crude Oil executed the 31st day of August, 1983, and expiring September 1, 1998 by and between Occidental Petroleum Corporation, et al., and CITGO Petroleum Corporation, et al. (the "CITGO Contract"), and CITGO's purchase option thereunder. Oxy agrees that it shall not assign, amend,or modify the Citgo Contract as it applies to the Properties prior to September 1, 1998 without prior written consent of Buyer. OXY represents and warrants that such agreement will expire as to the Properties, by its own terms, no later than September 1, 1998, ("Expiration Date"). XXX has advised Xxxxx of the existence of that certain lawsuit styled Xxxxxx X. Xxxxxxxx, et al. vs. CITGO Petroleum, et al., as filed in civil action No. 97-066, in the Chancery Court of Xxxxx County, Mississippi. OXY represents and warrants that there has been no request for lease cancellation made in the lawsuit. While Xxxxx agrees to accept the Properties subject to the CITGO Contract, it does so only until the earlier of the following occurs: (i) September 1, 1998, or (ii) cancellation or termination of the CITGO Contract by a court of law or as part of a settlement of the above lawsuit. OXY agrees to indemnify and hold Buyer harmless from and against any and all cost, expense, loss, or claim whatsoever, including interest, any fine or penalty and reasonable attorney's fees and court costs, in connection with the above lawsuit and/or any other claim that may be brought by a third party against Buyer for selling crude oil for the price paid pursuant to the terms of said CITGO Contract or for paying royalties or other leasehold burdens based on that price, prior to the Expiration Date.
Call on Production. No party has any call upon, option to purchase, rights to match, or similar rights under any agreement with respect to the production from the Properties operated by SELLER.
