Definition of Permitted Encumbrances Sample Clauses
Definition of Permitted Encumbrances. As used in this Agreement, the term “Permitted Encumbrances” means any or all of the following:
Definition of Permitted Encumbrances. As used herein, the term "Permitted Encumbrances" shall mean the following items, provided none of the following items shall operate, as of Closing, to increase the working interest of Seller owned as of the Execution Date for any of the Subject Properties, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of Seller owned as of the Execution Date for any of the Subject Properties:
Definition of Permitted Encumbrances. As used herein, the term "
Definition of Permitted Encumbrances. As used herein, the term “Permitted Encumbrances” means any or all of the following:
11.1.1 All liens and encumbrances that will be released at Closing.
11.1.2 Liens for current Taxes or assessments not yet due or delinquent on the Closing Date or, if delinquent, that are being contested in good faith in the ordinary course of business;
11.1.3 Materialmen’s, mechanic’s, repairman’s, employee’s, contractor’s, operator’s and other similar liens or charges arising in the ordinary course of business for amounts not yet delinquent;
Definition of Permitted Encumbrances. The Base Indenture is amended and supplemented by deleting clauses (b), (h) and (j) of the definition of “Permitted Encumbrances” in Section 1.1 in their entirety and inserting new clauses (b), (h), and (j) which shall read as follows:
Definition of Permitted Encumbrances. As used herein, the term “
Definition of Permitted Encumbrances. As used herein, the term “Permitted Encumbrances” means any or all of the following:
(a) Lessors’ royalties, reversionary interests and other burdens (and any liens or security interests created by law or reserved in instruments creating such interests to secure payment of same) to the extent that they do not, individually or in the aggregate, reduce Brxxxxx’x xet revenue interests with respect to any of the Leases below 81.25% or increase Brxxxxx’x xorking interest above that shown in the Schedule of Leases (Exhibit A) without a corresponding increase in the net revenue interest;
(b) All leases, unit agreements, pooling agreements, operating agreements, production sales contracts, division orders and other contracts, agreements and instruments applicable to the Leases, to the extent that they do not, individually or in the aggregate, reduce Brxxxxx’x xet revenue interests in any of the Leases below 81.25% or increase Brxxxxx’x xorking interest in any of the Leases above that shown in the Schedule of Leases (Exhibit A) without a corresponding increase in the net revenue interest;
(c) Third-party consent requirements, preferential rights and similar restrictions with respect to which waivers or consents are obtained by Brxxxxx xrom the appropriate parties prior to the Second Closing or the appropriate time period for asserting the right has expired; provided, however, that Brxxxxx xannot guarantee that any lessor under a Lease will grant a required consent to assign and the failure to secure such a consent to assign will not constitute a material default or material Title Defect under this Agreement;
(d) Liens for current Taxes or assessments not yet due or delinquent on the Second Closing Date;
(e) Materialmen’s, mechanic’s, repairman’s, employee’s, contractor’s, operator’s and other similar liens or charges arising in the ordinary course of business for amounts not yet delinquent as of the Second Closing;
(f) All rights to consent by, required notices to, filings with, or other actions by Governmental Authorities in connection with the sale or conveyance of oil and gas leases or interests therein or sale of production therefrom if the same are customarily obtained subsequent to such sale or conveyance;
(g) Easements, rights of way, servitudes, permits, surface leases, and other rights in respect of surface operations on or over any of the Leases that do not interfere with the current or proposed operations on the Leases; or
(h) Any Encumbrances that do no...
Definition of Permitted Encumbrances. 9 3.5- 3.9 [INTENTIONALLY DELETED]........................................11
Definition of Permitted Encumbrances. As used herein, the term "PERMITTED ENCUMBRANCES" shall mean the following items, provided none of the following items shall operate to increase the working interest of SELLER as set forth on Exhibit "B" for any of the respective Xxxxx, without a corresponding increase in the applicable net revenue interest, or decrease the net revenue interest of SELLER as set forth on Exhibit "B" for any of the respective Xxxxx:
Definition of Permitted Encumbrances. As used herein, the term “Permitted Encumbrances” means any or all of the following provided that such matters do not operate to reduce directly the Net Revenue Interests of Seller below those set forth in Exhibits A and B or increase directly the Working Interests of Seller above those set forth in Exhibit B without a corresponding increase in the Net Revenue Interests;
(a) All royalties, overriding royalties, reversionary interests and other burdens in existence as of the Effective Date to the extent that the net cumulative effect of such burdens does not materially reduce Seller’s net leasehold acreage below that shown in Exhibit A;
(b) All leases, unit agreements, pooling agreements, operating agreements, Hydrocarbon production sales contracts, division orders and other contracts, agreements and instruments applicable to the Assets, to the extent that the net cumulative effect of such instruments does not materially reduce Seller’s net leasehold acreage below that shown in Exhibit A;
(c) Preference Rights applicable to the Assets with respect to which (A) waivers or consents are obtained from the appropriate parties for the transaction contemplated hereby, or (B) required notices have been given for the transaction contemplated hereby to the holders of such rights and the appropriate period for asserting such rights has expired without an exercise of such rights.
(d) Transfer Requirements, third-party consent requirements and other similar restrictions or waivers with respect to which (A) waivers or consents are obtained from the appropriate parties for the transaction contemplated hereby, or (B) required notices have been given for the transaction contemplated hereby to the holders of such rights and the appropriate period for asserting such rights has expired without an exercise of such rights;
(e) Liens for current taxes or assessments not yet delinquent or, if delinquent, being contested in good faith by appropriate actions and for which any Seller has agreed to pay any final settlement related to periods prior to the Effective Date;
(f) Materialman’s, mechanic’s, repairman’s, employee’s, contractor’s, operator’s and other similar liens or charges arising in the ordinary course of business for amounts not yet delinquent (including any amounts being withheld as provided by Law), or if delinquent, being contested in good faith by appropriate actions and for which any Seller has agreed to pay any final settlement related to periods prior to the Effect...