Division of Ownership Sample Clauses

Division of Ownership. After the Closing, all Substances produced from the Oil and Gas Properties on or after the Effective Time and all Substances in tanks on the Effective Time shall be owned by Buyer. All Substances produced and sold from the Oil and Gas Properties prior to the—Effective Time shall be owned by Sellers. To the extent any Seller has sold Substances produced on or after the Effective Time prior to the Closing and the Purchase Price has not been adjusted pursuant to Section 2.3 or Section 14.1 for such proceeds, Sellers shall deliver any proceeds Sellers receive for such Substances to Buyer promptly.
Sample 1Sample 2
AutoNDA by SimpleDocs
Division of Ownership. After the Closing, all Production from the Contributor Properties, together with (a) the proceeds of such Production and any other amounts attributable to the Contributor Properties and (b) any other proceeds received by the Contributor attributable to the Contributor Properties, from whatever source, including, without limitation, any bonuses, delay rentals, royalty payments, overriding royalty payments and shut-in royalty payments, other than Production attributable to periods prior to the Reference Date and for which the Contributor has received payment prior to the Reference Date (collectively herein called the “Partnership-Entitled Production and Proceeds”), shall be owned by the Partnership, and should the Contributor receive payment for any such Partnership-Entitled Production and Proceeds, the Contributor shall within five (5) Business Days after the end of each calendar month during which any such payments are received, either endorse and deliver to the Partnership any checks received by the Contributor attributable to such Partnership-Entitled Production and Proceeds or transfer any cash proceeds by wire transfer to an account designated by the Partnership.
Sample 1
Division of Ownership. The Redeveloper shall have the right to create separate legal interests in portions of the Property including the right to create condominium units and/or air rights estates, and to subdivide the Property. In any such case, the calculation of Annual Service Charge shall continue to be calculated pursuant to Section 4.04 hereof and, for purposes of clarity, not pursuant to N.J.S.A. 40A:20-14. ARTICLE IX
Sample 1
Division of Ownership. Except as set forth on Schedule 2.3.1(b), after the Closing, all Substances produced from the Oil and Gas Properties on or after the Effective Date and all Substances in tanks on the Effective Date shall be owned by Buyer. All Substances produced and sold from the Oil and Gas Properties prior to the Effective Date, shall be owned by Sellers. To the extent any Seller has sold its interest in Substances produced on or after the Effective Date but prior to the Closing and the Purchase Price has not been adjusted pursuant to Section 2.3 or 14.1 for such proceeds, such Seller shall deliver any proceeds such Seller receives for such Substances to Buyer promptly, but not later than thirty days after closing.
Sample 1
Division of Ownership. (i) After the Closing, all Hydrocarbons produced from the Arrow River Oil and Gas Interests and either (a) in storage tanks as of the Effective Time or (b) sold on or after the Effective Time shall be owned by TXCO. All Hydrocarbons produced and sold from the Arrow River Oil and Gas Interests prior to the Effective Time shall be owned by Arrow River.
Sample 1
Division of Ownership. In the event that a single “Member” consists of two or more Persons holding title thereto, including, without limitation, in the form of a joint tenancy, a tenancy in common, a tenancy by the entirety, a joint venture, a partnership or similar manner of joint ownership, such Persons shall not be entitled to split their vote, but shall, for all purposes in voting matters, be considered one and the same. If such Persons cannot agree among themselves as to the manner in which to cast a particular vote, they shall be excluded from voting.
Sample 1
Division of Ownership. No change or division whatsoever and howsoever arising, relative to ownership of the Leased Property, Royalties or this Amended and Restated Lease, or any part of the same, shall operate to increase the obligations or diminish the rights of either party hereto, and that regardless of any such change or division of ownership the Leased Property shall be developed and operated as an entirety; and that notwithstanding any other actual or constructive knowledge or notice whatsoever thereof, no such change or division shall be binding upon either party unless and until after thirty (30) days written notice thereof, together with certified copies of recordable written instruments evidencing such change or divisions, shall have been delivered to the other party.
Sample 1
AutoNDA by SimpleDocs
Division of Ownership 
Sample 1Sample 2Sample 3See All (6)

Related to Division of Ownership

  • Form of Ownership Check the appropriate box (one only) to indicate form of ownership. If the subscriber is a Custodian, Corporation, Partnership or Trust, please provide the additional information requested. o Individual o Joint Tenants with Right of Survivorship (Both signatures must appear on page 6.) o Corporation, Limited Liability Company or Partnership (Corporate Resolutions, Operating Agreement or Partnership Agreement must be enclosed.) o Trust Trustee’s Name: Trust Date: o Other: Provide detailed information in the space immediately below.

  • Evidence of Ownership The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Holder of any Unregistered Security and the Holder of any coupon as the absolute owner of such Unregistered Security or coupon (whether or not such Unregistered Security or coupon shall be overdue) for the purpose of receiving payment thereof or on account thereof and for all other purposes, and neither the Company, the Trustee, nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. The fact of the holding by any Holder of an Unregistered Security, and the identifying number of such Security and the date of his holding the same, may be proved by the production of such Security or by a certificate executed by any trust company, bank, banker or recognized securities dealer wherever situated satisfactory to the Trustee, if such certificate shall be deemed by the Trustee to be satisfactory. Each such certificate shall be dated and shall state that on the date thereof a Security bearing a specified identifying number was deposited with or exhibited to such trust company, bank, banker or recognized securities dealer by the person named in such certificate. Any such certificate may be issued in respect of one or more Unregistered Securities specified therein. The holding by the person named in any such certificate of any Unregistered Securities specified therein shall be presumed to continue for a period of one year from the date of such certificate unless at the time of any determination of such holding (1) another certificate bearing a later date issued in respect of the same Securities shall be produced or (2) the Security specified in such certificate shall be produced by some other Person, or (3) the Security specified in such certificate shall have ceased to be outstanding. Subject to Article 7, the fact and date of the execution of any such instrument and the amount and numbers of Securities held by the Person so executing such instrument may also be proven in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in any other manner which the Trustee may deem sufficient. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the person in whose name any Registered Security shall be registered upon the Security Register for such series as the absolute owner of such Registered Security (whether or not such Registered Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the Principal of and, subject to the provisions of this Indenture, interest on such Registered Security and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary.

  • Type of ownership (You must check one box) Individual Custodian for Tenants in Common Uniform Gifts to Minors Act of the State of: __________ Joint Tenants with rights of Survivorship Corporation (Inc., LLC, LP) – Please List all officers, directors, partners, managers, etc.: Partnership (Limited Partnerships use “Corporation”) Trust Community Property Other (please explain)

  • Transfer of Ownership Trust..........................................................

  • Change of Ownership Contractor agrees that if there is a change or transfer in ownership of Contractor’s business prior to completion of this Contract, the new owners shall be required under terms of sale or other transfer to assume Contractor’s duties and obligations contained in this Contract and complete them to the satisfaction of County.

  • Incidents of Ownership The holders ----------------------- of Partnership Units as of the Record Date shall be the Initial Beneficiaries of the Trust as holders of Trust Units in the Partnership's Trust, and the Trustee shall retain only such incidents of legal ownership as are necessary to undertake the actions and transactions authorized herein.

  • Rights of Ownership All computer programs and procedures developed to perform services required to be provided by BISYS under this Agreement are the property of BISYS. All records and other data except such computer programs and procedures are the exclusive property of the Trust and all such other records and data will be furnished to the Trust in appropriate form as soon as practicable after termination of this Agreement for any reason.

  • Maintenance of Ownership of Subsidiaries Sell or otherwise dispose of any shares of capital stock of any Subsidiary, except to another Subsidiary, or permit any Subsidiary to issue, sell or otherwise dispose of any shares of its capital stock or the capital stock of any Subsidiary, except to the Company or another Subsidiary; provided, however, that the Company may liquidate, merge or consolidate any Subsidiary or Subsidiaries into or with itself, provided that the Company is the surviving entity, or into or with another Subsidiary or Subsidiaries.

  • Death of Owner If the Owner dies before the sole surviving Annuitant and before the Annuity Date, the death benefit proceeds will be equal to the Death Benefit Amount as of the Notice Date. If the Owner dies before the sole surviving Annuitant and before the Annuity Date, we will pay the death benefit proceeds to the first among the following who is (1) living; or (2) an entity entitled to receive the death benefit proceeds:

  • Protection of Ownership Interests of Buyer (a) Each Originator agrees that from time to time, at its expense, it will promptly execute and deliver all instruments and documents, and take all actions, that may be necessary, or that Buyer (or its assigns) may reasonably request, to perfect, protect or more fully evidence the interest of Buyer hereunder and the Receivable Interests, or to enable Buyer (or its assigns) to exercise and enforce their rights and remedies hereunder. At any time, Buyer (or its assigns) may, at such Originator's sole cost and expense, direct such Originator to notify the Obligors of Receivables of the ownership interests of Buyer under this Agreement and may also direct that payments of all amounts due or that become due under any or all Receivables be made directly to Buyer or its designee.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!