Increased Working Interest Clause Samples
The Increased Working Interest clause defines the conditions under which a party's share or stake in a joint venture or project, typically in oil and gas operations, can be increased. This clause outlines the mechanisms for acquiring additional interest, such as through the withdrawal of another party or the exercise of specific contractual rights, and may specify how costs and liabilities associated with the increased share are allocated. Its core function is to provide a clear process for adjusting ownership percentages, thereby ensuring transparency and fairness when changes in participation occur.
Increased Working Interest. Seller owns more than the working interest shown on Exhibit “C” for a particular Asset without a proportionate increase in the corresponding net revenue interest shown on Exhibit “C”.
Increased Working Interest. Seller owns, or Buyer will be obligated to bear costs and expenses related to the maintenance, development and operations of working interests, more than the working interest shown on Exhibit “C” for a particular Asset without a proportionate increase in the corresponding net revenue interest shown on Exhibit “C”.
Increased Working Interest. Entitles Seller to own not more than the working interest shown on Exhibit “C” for a particular Well in the currently producing formation or interval for such Well throughout the productive life of such Well without a proportionate increase in the corresponding net revenue interest shown on Exhibit “C” for such Well.
Increased Working Interest. Seller owns more than the Working Interest shown for Seller on Exhibit “E,” without a proportionate increase in the corresponding Net Revenue Interest shown for Seller on Exhibit “E,” for a particular Well for the productive life of the Well as to all depths from the surface to the lowest productive depth therein or for a particular Block as to all depths from the surface to the base of the Wolfcamp Formation (except as provided otherwise on Exhibit “E”).
Increased Working Interest. 12 4.1.4 Reversions....................................... 12 4.1.5 Consents and Preferential Rights................. 12 4.2 Notices................................................... 13 4.3