Definition of the Assets Sample Clauses

Definition of the Assets. The term “Assets” refers to an undivided 75% WI and 60.75% NRI in the oil and gas Leases listed on Exhibit A-1, and an undivided 75% WI and the NRI as set forth on Exhibit A-2, proportionately reduced to the 75% WI assigned, for the Leases listed on Exhibit A-2, of Teton’s right, title and interest in and to the following: A. The leasehold estates created by the oil and gas leases specifically described in Exhibits A-1 and A-2 (collectively, the “Leases”), and the oil, gas and all other hydrocarbons (“Hydrocarbons”) attributable to the Leases and the lands covered thereby (the “Lands”); B. The permits, rights-of-way and easements used in connection with the production, gathering, treatment, processing, storing, sale or disposal of Hydrocarbons or water produced from the Leases and Lands described in Subsection 1.1A.; C. Other agreements, if any, relating to the properties and interests described in Subsections 1.1A and B and to the production of Hydrocarbons, if any, attributable to said Leases and Lands; D. All existing and effective contracts, agreements and instruments, if any, insofar as they relate to the Leases and Lands described in Subsections 1.1A through C; E. All proprietary seismic data and licensed seismic data covering the Leases and Land, if any, subject to applicable third-party licensing restrictions or other restrictions on disclosure or transfer; and F. The files, records and geologic data relating to the items described in Subsections 1.1A through E maintained by Teton, but only to the extent not subject to unaffiliated third party contractual restrictions on disclosure or transfer (the “Records”).
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