Common use of Interest in the Borrowing Base Oil and Gas Properties Clause in Contracts

Interest in the Borrowing Base Oil and Gas Properties. Except as otherwise set forth on Exhibit "A" hereto, with respect to each of the Borrowing Base Oil and Gas Properties, the ownership of the Borrower in such property will, with respect to the wells, units and/or tracts of land described in Exhibit "A" hereto in xxxxection with such property, (i) entitle the Borrower to receive (subject to the terms and provisions of this Agreement) a decimal share of the oil and gas produced from, or allocated to, such wells, units and/or tracts equal to not less than the decimal share sxx xxrth in Exhibit "A" in connection with such wells, units and/or tracts, and (ii) cause the Borrower to be obligatxx xx bear a decimal share of the cost of exploration, development and operation of such wells, units and/or tracts of land not greater than the decimal share xxx forth in Exhibit "A" in connection with such wells, units and/or tracts, unless any increase in the Borrower's shaxx xx costs is accompanied by a pro-rata increase in the Borrower's share of revenue. Except as set forth in the instrument and agreements, if any, more particularly described in Exhibit "A" hereto, all such shares of production which the Borrower is entitled to receive, and shares of expenses which the Borrower is obligated to bear, are not subject to change, except for changes attributable to future elections by the Borrower not to participate in operations proposed pursuant to customary forms of applicable joint operating agreements, and except for changes attributable to changes in participating areas under any federal units wherein participating areas may be formed, enlarged or contracted in accordance with the rules and regulations of the applicable governmental authority.

Interest in the Borrowing Base Oil and Gas Properties. Except as otherwise set forth on Exhibit "A" hereto, with respect to each of the Borrowing Base Oil and Gas Properties, Properties the ownership of the Borrower in such property will, with respect to the wellsxxxxx, units and/or tracts of land described in Exhibit "A" hereto in xxxxection connection with such property, (i) entitle the Borrower to receive (subject to the terms and provisions of this Agreement) a Net Revenue Interest decimal share of the oil and gas produced from, or allocated to, such wellsxxxxx, units and/or tracts equal to not less than the NRI decimal share sxx xxrth set forth in Exhibit "A" in connection with such wellsxxxxx, units and/or tracts, and (ii) cause the Borrower to be obligatxx xx obligated to bear a Working Interest decimal share of the cost of exploration, development and operation of such wellsxxxxx, units and/or tracts of land not greater than the W.I. decimal share xxx set forth in Exhibit "A" in connection with such wellsxxxxx, units and/or tracts, unless any increase in the Borrower's shaxx xx share of costs is accompanied by a pro-rata increase in the Borrower's share of revenue. Except as set forth in the instrument and agreements, if any, more particularly described in Exhibit "A" hereto, all such shares of production which the Borrower is entitled to receive, and shares of expenses which the Borrower is obligated to bear, are not subject to change, except for changes attributable to future elections by the Borrower not to participate in operations proposed pursuant to customary forms of applicable joint operating agreements, and except for changes attributable to changes in participating areas under any federal units wherein participating areas may be formed, enlarged or contracted in accordance with the rules and regulations of the applicable governmental authority.

Interest in the Borrowing Base Oil and Gas Properties. Except as otherwise set forth on Exhibit "“A" ” hereto, with respect to each of the Borrowing Base Oil and Gas Properties, Properties the ownership of the respective Borrower in such property will, with respect to the wellsxxxxx, units and/or tracts of land described in Exhibit "“A" ” hereto in xxxxection connection with such property, (i) entitle the such Borrower to receive (subject to the terms and provisions of this Agreement) a Net Revenue Interest decimal share of the oil and gas produced from, or allocated Table of Contents to, such wellsxxxxx, units and/or tracts equal to not less than the NRI decimal share sxx xxrth set forth in Exhibit "“A" ” in connection with such wellsxxxxx, units and/or tracts, and (ii) cause the such Borrower to be obligatxx xx obligated to bear a Working Interest decimal share of the cost of exploration, development and operation of such wellsxxxxx, units and/or tracts of land not greater than the W.I. decimal share xxx set forth in Exhibit "“A" ” in connection with such wellsxxxxx, units and/or tracts, unless any increase in the such Borrower's shaxx xx ’s share of costs is accompanied by a pro-rata increase in the such Borrower's ’s share of revenue. Except as set forth in the instrument and agreements, if any, more particularly described in Exhibit "“A" ” hereto, all such shares of production which the such Borrower is entitled to receive, and shares of expenses which the such Borrower is obligated to bear, are not subject to change, except for changes attributable to future elections by the such Borrower not to participate in operations proposed pursuant to customary forms of applicable joint operating agreements, and except for changes attributable to changes in participating areas under any federal units wherein participating areas may be formed, enlarged or contracted in accordance with the rules and regulations of the applicable governmental authority.