Division of Hydrocarbons Sample Clauses

Division of Hydrocarbons. After Closing, all Hydrocarbons produced from the Subject Interests and not in storage tanks above the pipeline connection or past a measuring point as of the Effective Time shall be owned by Buyer. All Hydrocarbons produced from the Subject Interests and disposed of, or in storage tanks above the pipeline connection or past a measuring point as of the Effective Time shall be owned by Seller. To the extent that Seller has sold Hydrocarbons (other than such Hydrocarbons described in the preceding sentence) which constitute Purchased Assets after the Effective Time but prior to Closing, and the Base Purchase Price has not been adjusted under Section 1.6 for such proceeds, Seller shall deliver such proceeds to Buyer promptly upon Seller’s receipt.
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Division of Hydrocarbons. After the Closing, all Hydrocarbons produced from the Assets on or after the Effective Time shall be owned by Buyer. After the Closing, all Hydrocarbons produced and sold from the Assets prior to the Effective Time and all Seller’s Substances shall be owned by Seller. To the extent Seller has sold Hydrocarbons which constitute Assets on or after the Effective Time but prior to the Closing and the Purchase Price has not been adjusted pursuant to Section 2.2 for such proceeds, Seller shall deliver such proceeds to Buyer promptly.

Related to Division of Hydrocarbons

  • Gas If Customer has selected a Gas Fixed Rate, Customer’s Price will be based on the Fixed Rate(s), plus the Administration Charge, set forth in the Application, which includes RITERATE ENERGY’s compressor fuel and transportation charges, administrative and transaction costs and the Gas Balancing Amount and any Regulatory Charges (defined below).

  • Minerals The seller’s share of minerals (if any) will NOT transfer with the surface at closing.

  • Notice of Sales of Oil and Gas Properties In the event the Borrower or any Subsidiary intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties or any Equity Interests in any Subsidiary in accordance with Section 9.12, prior written notice of such disposition, the price thereof and the anticipated date of closing and any other details thereof requested by the Administrative Agent or any Lender.

  • Pipelines Developer shall have no interest in the pipeline gathering system, which gathering system shall remain the sole property of Operator or its Affiliates and shall be maintained at their sole cost and expense.

  • Electrical Power Corporation shall provide Contractor with convenient access to electrical power required to perform the work. The electrical outlets used by Contractor shall be those designated or approved by Corporation.

  • Production Lessee shall, subject to applicable laws, regulations and orders, operate and produce all xxxxx upon the leased land so long as the same are capable of producing in paying quantities, and shall operate the same so as to produce at a rate commensurate with the rate of production of xxxxx on adjoining lands within the same field and within the limits of good engineering practice, except for such times as there exist neither market nor storage therefore, and except for such limitations on, or suspensions of, production as may be approved in writing by Lessor. Lessee shall be responsible for adequate site security on all producing properties.

  • ELECTRICAL SERVICES The Company must construct and reticulate electrical requirements for all amenities and facilities. The Company must construct sub-station and distribution boards necessary to reticulate power to all Company owned or leased facilities which provide amenities to the public. The electrical installation must be to the design and installation standards of the State Energy Commission of Western Australia. All electrical reticulation must be placed underground.

  • Fuel The Vehicle must be returned with the amount of fuel equal to that at the time of the commencement of the rental. If the Vehicle is returned with less fuel, the difference will be charged to You at a rate of $5.00 per litre (which includes a service component).

  • Oil and Gas Properties The Borrower will and will cause each Subsidiary to, at its own expense, do or cause to be done all things reasonably necessary to preserve and keep in good repair, working order and efficiency all of its Oil and Gas Properties and other material Properties including, without limitation, all equipment, machinery and facilities, and from time to time will make all the reasonably necessary repairs, renewals and replacements so that at all times the state and condition of its Oil and Gas Properties and other material Properties will be fully preserved and maintained, except to the extent a portion of such Properties is no longer capable of producing Hydrocarbons in economically reasonable amounts. The Borrower will and will cause each Subsidiary to promptly: (i) pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties, (ii) perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties, (iii) cause each Subsidiary to do all other things necessary to keep unimpaired, except for Liens described in Section 9.02, its rights with respect to its Oil and Gas Properties and other material Properties and prevent any forfeiture thereof or a default thereunder, except to the extent a portion of such Properties is no longer capable of producing Hydrocarbons in economically reasonable amounts and except for dispositions permitted by Sections 9.16 and 9.

  • Electrical Service Electrical service for new construction or a renovated existing building shall be 480/277-volt, 3-phase, 4-wire or approved equal. Service shall be sized for HVAC and other mechanical system(s) loads, lighting, general building services, and dedicated computer based office equipment loads. 5 xxxxx per square foot shall be provided for lighting and general service receptacles. Size of neutral conductor of 3- phase circuits shall be twice that of phase conductor to accommodate potential harmonic currents associated with computer system electronic power supplies and fluorescent lighting fixtures electronic ballasts.

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