Earned Interests Sample Clauses

Earned Interests. If the Initial Well or a Substitute Well (if applicable) is drilled to the Objective Depth and completed as a well capable of producing oil and/or gas in paying quantities (referred to as the “Earning Well”), and we have been furnished satisfactory evidence to that effect, such as official regulatory agency tests, and you have complied with all other applicable provisions in this agreement, you will earn, subject to the depth and any other limitations set forth on Page One, and we shall lease to you, the form of assignment and/or lease attached as Exhibit “2”, the following part of our interests in the Farmout Area:
Sample 1
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Earned Interests. (a) On the Closing Date, Buyer shall acquire the Buyer’s Working interest. Seller and Buyer agree that, for a period of five (5) years from the Closing Date (the “Acquisition Period”), Buyer shall have the right to earn from Seller additional Working Interest (such additional Working Interest being hereinafter referred to as the “Earned Working Interest”) by paying the “Expenditures” as that term is defined in Section 4 (c) below. The total of the Buyer’s Working Interest and the Earned Working Interest (the “B&E WI”) with respect to the Dxxx and Dxxx “B” Units may be calculated at any point in time by multiplying by 82% (100% for the Dxxx “K” Unit), a fraction, the numerator of which is the sum of the Purchase Price ($11,500,000) plus Buyer paid Expenditures, and the denominator of which is the sum of $23,000,000 (deemed to be the value of the Buyer’s and Seller’s interest in the Units) plus Buyer and Seller paid Expenditures, (the “WI Fraction”). For example, if Buyer paid Expenditures are $10,000,000, and Seller has made no Expenditures, the B&E WI for the Dxxx and Dxxx “B” Units would be calculated as $21,500,000 divided by $33,000,000, multiplied by 82%, which equals 53.424242%. Therefore, Buyer’s Earned Working Interest at that point in time for the Dxxx and Dxxx “B” Units would equal 12.424242% (53.424242% minus 41%). A like example for the Dxxx K Unit would yield a 65.151515% B&E WI ($21,500,000/$33,000,000 X 100%). The “
Sample 1
Earned Interests. Before Payout After Payout Universal (Farmee) 100% 95% 0700667 (NCIR) 5% Net Carried 5% 10097885 (Farmor) 15% Conv. XXXX Conv. Rate**
Sample 1

Related to Earned Interests

  • Assigned Interest[s] Assignor[s](5) Assignee[s](6) Aggregate Amount of Commitment for all Lenders(7) Amount of Commitment Assigned Percentage Assigned of Commitment(8) CUSIP Number $ $ % $ $ % $ $ %

  • Retained Interest The Retained Interest, if any, in any Underlying Security shall initially be held by the Person so specified in the related Supplement as and to the extent specified therein.

  • Assigned Interest As indicated on Schedule I hereto Effective Date: March 26, 2024 The Assignee agrees to deliver to the Administrative Agent a completed administrative questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Affiliates or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. [Signature page follows] The terms set forth in this Master Assignment are hereby agreed to: ASSIGNOR [NAME OF ASSIGNOR] By: Name: Title: ASSIGNEE JEFFERIES FINANCE LLC By: Name: Title: Consented to and Accepted: XXXXXXXXX FINANCE LLC, as the Administrative Agent By: Name: Title: Consented to: Borrower: THE XXXXXXX GROUP, INC. By: Name: Title: ANNEX 1 ANNEX 1 TO MASTER ASSIGNMENT CREDIT AGREEMENT DATED AS OF JULY 14, 2021 (AS AMENDED, RESTATED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME) AMONG THE XXXXXXX COMPANIES, INC., ”), THE XXXXXXX GROUP, INC., THE FINANCIAL INSTITUTIONS PARTY THERETO FROM TIME TO TIME PARTIES AS LENDERS, XXXXXXXXX FINANCE LLC, AS ADMINISTRATIVE AGENT FOR THE LENDERS AND COLLATERAL AGENT FOR THE LENDERS. STANDARD TERMS AND CONDITIONS FOR MASTER ASSIGNMENT

  • Protection of Ownership Interests of the Purchasers (a) Seller 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 desirable, or that the Agent may reasonably request, to perfect, protect or more fully evidence the Purchaser Interests, or to enable the Agent or the Purchasers to exercise and enforce their rights and remedies hereunder. After the occurrence of an Amortization Event, the Agent may, or the Agent may direct Seller or the Servicer to, notify the Obligors of Receivables, at Seller's expense, of the ownership or security interests of the Purchasers 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 the Agent or its designee. Seller or the Servicer (as applicable) shall, at any Purchaser's request, withhold the identity of such Purchaser in any such notification.

  • Shares; Membership Interests (a) The total of the membership interests in the Company shall be divided into (i) Class A Ordinary Shares having the rights and preferences as set forth herein (the “Class A Ordinary Shares”), (ii) Class A Preferred Shares having the rights and preferences as set forth herein (the “Class A Preferred Shares” and, together with the Class A Ordinary Shares, the “Class A Shares”), (iii) Class B Ordinary Shares having the rights and preferences as set forth herein (the “Class B Ordinary Shares”), and (iv) Class C Ordinary Share having the rights and preferences as set forth herein (the “Class C Ordinary Share” and, together with the Class A Ordinary Shares, the Class A Preferred Shares and the Class B Ordinary Shares, the “Shares” and each a “Share”). Class A Ordinary Shares, Class A Preferred Shares and Class B Ordinary Shares shall have the same rights, powers and duties, except as otherwise set forth in this Agreement. The number of Class A Ordinary Shares shall be limited to the maximum number of Class A Ordinary shares offered in the Offering, plus (i) the number of Class A Ordinary Shares which may be issued upon conversion of the Class A Preferred Shares, plus (ii) the number of Class A Ordinary Shares which may be issued upon conversion of the Class B Ordinary Shares. The number of Class A Preferred Shares shall be limited to the number of Class A Preferred Shares which may be issued pursuant to the Management Services Agreement. The number of Class B Ordinary Shares shall be limited to up to 1,000. The number of Class C Ordinary Shares shall be limited to one. Class A Preferred Shares issued pursuant to the Management Services Agreement (“ASA Shares”) may be subject to vesting provisions as set forth in the Management Services Agreement. The Shares of the Members shall be as set forth on Exhibit A attached hereto, which may be updated as set forth herein. For the avoidance of doubt, in the event that all of the Class A Ordinary Shares are not sold pursuant to the Offering, the Board shall, upon the final closing of the Offering, issue a number of Class A Ordinary Shares to the Initial Member equal to the aggregate number of Class A Ordinary Shares that remain unsold in the Offering, as repayment in full of any and all obligations owing to the Initial Member in respect of advances made to acquire the Artwork and true-up fees payable to the Initial Member. The name and mailing address of each Member or such Member’s representative shall be listed on the books and records of the Company maintained for such purpose by the Company or the Transfer Agent.

  • Assignment of Membership Interests The Assignment of Membership Interests shall have been fully executed and delivered to Purchaser.

  • Residual Interest and Transfer of Interests 6 Section 3.1. The Residual Interest. 6

  • Membership Interests The Sole Member currently owns one hundred percent (100%) of the percentage interests in the Company.

  • Additional Interests If any Pledgor shall at any time acquire or hold any additional Pledged Interests, including any Pledged Interests issued by any Subsidiary not listed on Schedule I hereto which are required to be subject to a Lien pursuant to a Pledge Agreement by the terms hereof or of any provision of the Revolving Credit Agreement (any such shares being referred to herein as the “Additional Interests”), such Pledgor shall deliver to the Administrative Agent for the benefit of the Revolving Secured Parties (i) a Pledge Agreement Supplement in the form of Exhibit A hereto with respect to such Additional Interests duly completed and executed by such Pledgor and (iii) any other document required in connection with such Additional Interests as described in Section 2(c). Each Pledgor shall comply with the requirements of this Section 21 concurrently with the acquisition of any such Additional Interests or, in the case of Additional Interests to which Section 6.14 of the Revolving Credit Agreement applies, within the time period specified in such Section or elsewhere in the Revolving Credit Agreement with respect to such Additional Interests; provided, however, that the failure to comply with the provisions of this Section 21 shall not impair the Lien on Additional Interests conferred hereunder.

  • Transfer of Optioned Interests For each exercise of the Equity Interest Purchase Option:

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