Farmout and Earning Obligations Sample Clauses

Farmout and Earning Obligations. If any Remaining Interest is acquired under Section 6.16(b) in the form of a farmout agreement, exploration agreement or any other agreement that requires one or more wells to be drilled in order to earn a leasehold interest, and if the Xxxxhasers elect not to participate in an earning well provided by such agreement through completion (whether as a producer or as a dry hole) for a full 30% of the Parties' aggregate cost share, then the Purchasers will forfeit any and all rights to receive any portion of the earning well and leasehold interests acquired as a result of drilling that earning well (including, without limitation, rights to purchase additional interests in the concerned land under Section 1.03(f)), and will also forfeit all rights to participate in subsequent earning wells under that agreement. If the Purchasers do participate in the dxxxxxng of an earning well for a full 30% of the Parties' aggregate cost share, then the Purchasers shall receive (i) 30% of the Parties' aggregate interest in the earning well and 30% of the aggregate leasehold interest earned by the Parties in the Designated Wellbore Area in which the earning well is located and (ii) an undivided 25% of the leasehold interest earned by the Parties in any additional acreage by virtue of drilling the earning well pursuant to the terms of the farmout or other earning agreement. Similarly, if any Interest is acquired under Section 6.16(c) in the form of a farmout agreement, exploration agreement or any other agreement that requires one or more wells to be drilled in order to earn a leasehold interest, and if Panxxxxxn (if in Utah or Wyoming) or San Joaquin elects not to participate in an earning well provided by such xxxxxxent through completion (whether as a producer or as a dry hole) for a full 70% of the Parties' aggregate cost share, then Pannonian or San Joaquin, as applicable, will forfeit any and all rights to receive anx xxxxxon of the earning well and leasehold interests acquired as a result of drilling that earning well, and will also forfeit all rights to participate in subsequent earning wells under that agreement. If Pannonian or San Joaquin does participxxx xn the drilling of an earning well for a fulx 00% xf the Parties' aggregate cost share, then Pannonian or San Joaquin, as applicable, shall receive 70% of the Parties' aggregate ixxxxxxx in the earning well and 70% of the aggregate leasehold interest earned by the Parties by virtue of drilling the earning well pursu...
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Related to Farmout and Earning Obligations

  • Ongoing Obligations I reaffirm my ongoing obligations under the Anthera Pharmaceuticals, Inc. Confidentiality and Inventions Assignment Agreement between me and the Company dated _______________, 20__ (the “Confidentiality Agreement ”), including, without limitation, my obligations to maintain the confidentiality of all confidential and proprietary information of the Company, to return to the Company (in good condition) all of the Company’s equipment, property, and documents (whether in paper, electronic, or other format, and all copies thereof) that are in my possession or control, and refrain from certain solicitation activities for a twelve (12) month period after my employment ends. I acknowledge that the execution of Exhibit A to the Confidentiality Agreement, entitled “Anthera Pharmaceuticals, Inc. Termination Certification” (the “Certification”), is required by the Confidentiality Agreement and accordingly agree to sign and return to the Company, at the same time I return the Release, the Certification (attached hereto as Appendix A) as a condition to my entitlement to the Separation Benefits. I also reaffirm my ongoing obligations under the Anthera Pharmaceuticals, Inc. Statement of Company Policy Regarding Xxxxxxx Xxxxxxx and Disclosure of Material Non-Public Information (the “Xxxxxxx Xxxxxxx Policy”) and agree that those obligations continue to apply following my separation from employment, until such time as any material, nonpublic information possessed by me has become public or is no longer material, but not to exceed 12 months. Without limiting the foregoing, I acknowledge and agree that I shall continue to be subject to the remainder of any Quarterly Black-Out or Special Black-Out (as defined in the Xxxxxxx Xxxxxxx Policy), if such black-out period was instituted prior to my separation from employment.

  • Post-Closing Obligations Seller and Buyer agree to the following post-Closing obligations:

  • Existing Obligations The terms of the Award Agreement shall not in any way (a) limit your obligations pursuant to any other agreements with the Corporation or any of its Affiliates or other corporate plans or policies applicable to you; or (b) limit the Corporation’s or your Employer’s rights to exercise any remedies it may have under Applicable Laws or under the terms of such other agreements, plans or policies.

  • Closing Obligations At the Closing:

  • Periodic Reporting Obligations During the Prospectus Delivery Period, the Company will duly file, on a timely basis, with the Commission and the Trading Market all reports and documents required to be filed under the Exchange Act within the time periods and in the manner required by the Exchange Act.

  • Continuing Obligations The obligations in this Clause 30 are continuing and, in particular, shall survive and remain binding on each Creditor Party for a period of 12 months from the earlier of:

  • Reasonable and Continuing Obligations Executive agrees that Executive’s obligations under this Section 6 are obligations which will continue beyond the date Executive’s employment terminates and that such obligations are reasonable, fair and equitable in scope. The terms and duration are necessary to protect the Company’s legitimate business interests and are a material inducement to the Company to enter into this Agreement. Executive further acknowledges that the consideration for this Section 6 is his employment or continued employment. Executive will not be paid any additional compensation during this Restricted Period for application or enforcement of the restrictive covenants contained in this Section 6.

  • Certain Post-Closing Obligations As promptly as practicable, and in any event within the time periods after the Effective Date specified in Schedule 5.14 or such later date as the Administrative Agent reasonably agrees to in writing, including to reasonably accommodate circumstances unforeseen on the Effective Date, Holdings, the Parent Borrower and each other Loan Party shall deliver the documents or take the actions specified on Schedule 5.14 that would have been required to be delivered or taken on the Effective Date but for the proviso to Section 4.01(f), in each case except to the extent otherwise agreed by the Administrative Agent pursuant to its authority as set forth in the definition of the term “Collateral and Guarantee Requirement”.

  • PRE-CLOSING OBLIGATIONS The Seller shall have performed and complied with all the obligations and conditions required by this Agreement to be performed or complied with by Seller at or prior to the Closing Date, including the execution and delivery of all documents and contracts required to be delivered at or before the Closing Date pursuant to this Agreement.

  • Reporting Obligations As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

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