FAILURE TO MAKE TIMELY PAYMENTS; PENALTIES AND INTEREST. Timely and proper payment of royalties is a material requirement of this Lease. Late payments are subject to penalties and interest as provided by the Rules in effect on the date such payments are due. Lessor’s rights to collect penalties and interest are in addition to its rights to pursue other remedies at law or in equity.
Appears in 4 contracts
Samples: Oil and Gas Lease, Oil and Gas Lease, Oil and Gas Lease
