Common use of Interests Earned Clause in Contracts

Interests Earned. Upon Participant paying the Prospect Fee, together with its share of the costs for the drilling, completion and equipping, or the plugging and abandonment of an Obligation Well, Participant shall be assigned an undivided interest in and to the Leases equal to Participant's Interest of PetroShare's interest in the Existing Leases as to the unit for such Obligation Well, and as to all depths from the surface to the deepest depth drilled in the Obligation Well. All assignments will be subject to all royalties, overriding royalties, production payments, net profits interests and similar burdens existing as of the date hereof.

Interests Earned. Upon Participant paying the Prospect Fee, together with its share of the costs for the drilling, completion and equipping, or the plugging and abandonment of an Obligation WellWell(s), Participant shall be assigned an undivided interest in and to the Existing Leases equal to Participant's Interest of PetroShare's interest in the Existing Leases as to the unit for such Obligation Well, Leases listed on Exhibit A & B attached hereto and as to all depths from the surface to the deepest depth drilled in the Obligation Welldepths. All assignments will be subject to all royalties, overriding royalties, production payments, net profits interests and similar burdens existing as of the date hereof.