Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests are set forth in Exhibit “A.” In the same manner, the parties shall also own all production of Oil and Gas from the Contract Area subject, however, to the payment of royalties and other burdens on production as described in this agreement. Regardless of which Party has contributed any Oil and Gas Lease or Oil and Gas Interest on which royalty or other burdens may be payable and except as otherwise expressly provided in this agreement, each Party shall pay or deliver, or cause to be paid or delivered, all burdens on its share of the production from the Contract Area up to, but not in excess of twenty one percent (21%) and shall indemnify, defend, and hold the other parties free from any liability therefor. Except as otherwise expressly provided in this agreement, if any Party has contributed any Lease or Interest which is burdened with any royalty, overriding royalty, production payment or other burden on production in excess of the amounts stipulated above, the Party so burdened shall assume and alone bear all the excess obligations and shall indemnify, defend and hold the other parties hereto harmless from any and all claims attributable to the excess burden. However, so long as the Drilling Unit for the productive Zone(s) is identical with the Contract Area, each Party shall pay or deliver, or cause to be paid or delivered, all burdens on production from the Contract Area due under the terms of the Oil and Gas Lease(s) which the Party has contributed to this agreement, and shall indemnify, defend, and hold the other parties free from any liability therefor. No Party shall ever be responsible, on a price basis higher than the price received by the Party, to any other Party’s lessor or royalty owner, and if the other Party’s lessor or royalty owner should demand and receive settlement on a higher price basis, the Party contributing the affected Lease shall bear the additional royalty burden attributable to the higher price. Nothing contained in this Article III.B. shall be deemed an assignment or cross-assignment of interests covered by this agreement, and in the event two or more parties contribute to this agreement jointly owned Leases, the parties’ undivided interests in those Leaseholds shall be deem...
Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests were set forth Exhibit “A”. In the same manner, the parties shall also own all production of oil and gas from the Contract Area subject to the payment of royalties so the extent of Overriding Royalties and Landowner Royalties which shall be borne as hereinafter set forth. Regardless of which party has contributed the lease(s) and/or oil and gas interest(s) hereto on which royalty is due and payable, each party entitled to receive a share of production of oil and gas from the Contract Area shall bear and shall pay or deliver, or cause to be paid or delivered, to the extent of its such production, the royalty amount stipulated hereinabove and shall hold the other parties free from any liability therefore. No party shall ever be responsible, however, on a price basis higher than the price received by such party, to any other party’s lessor or royalty owner, and if such other party’s lessor or royalty owner should demand and receive settlement on a higher price basis, the party contributing the affected lease shall bear the additional royalty burden attributable to such higher price. Nothing contained in this Article III B. shall be deemed and assigned or cross-assigned of interests covered hereby.
Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this Agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned by the parties as their interests are set forth in Exhibit “A” as it may be amended from time-to-time and in accordance with the terms of the Participation Agreement. In the same manner, the parties shall also own all production of Oil and Gas from the Contract Area subject, however, to the payment of royalties and other burdens on production as described hereafter. Each party shall pay or deliver, or cause to be paid or delivered, all burdens on its share of the production from the Contract Area as indicated in Exhibit “A” hereto and shall indemnify, defend and hold the other parties free from any liability therefor. Each party so burdened shall assume and alone bear all such excess obligations and shall indemnify, defend and hold the other parties hereto harmless from any and all claims attributable to such excess burden. Nothing contained in this Article III.A. shall be deemed an assignment or cross-assignment of interests covered hereby.
Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests are set forth in Exhibit “A.” In the same manner, the parties shall also own all production of Oil and Gas from the Contract Area subject, however, to the payment of royalties and other burdens on production as described hereafter. Nothing contained in this Article IIIB shall be deemed an assignment of interests covered hereby, and in the event two or more parties contribute to this agreement jointly owned Leases, the parties’ undivided interests in said Leaseholds shall be deemed separate leasehold interests for the purposes of this agreement.
Interests of Parties in Costs and Production. In accordance with and subject to the FOA, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be paid for and working interest ownership earned, by the parties as their interests are set forth in Exhibit "A" to the FOA. In the same manner, the parties shall also own a working interest in all production of Oil and Gas from the Contract Area subject, however, to the payment of royalties and other burdens on production as described hereafter.
Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this Agreement shall be borne and paid, and all equipment and materials acquired in operations of the well shall be owned by the parties as their interests are set our in Exhibit “A.” In the same manner, the parties shall also own all production of oil and gas from the Liberty #1 Well subject to the payment of royalties to the extent of a 25.0% aggregate (gross) royalty and overriding royalty burden net revenue interest (i.e., a 75.0% net revenue interest or NRI) which shall be borne as provided below. Regardless of which party has contributed the Lease(s) and/or Oil and Gas Interest(s) on which royalty is due and payable, each party entitled to receive a share of production of Oil and Gas from the well shall bear and shall pay or deliver, or cause to be paid or delivered, to the extent of its interest in production, the royalty amount stipulated above and shall hold the other parties free from any liability for it.
Interests of Parties in Costs and Production a. Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests are set forth in Exhibit “A”. In the same manner, the parties shall also own all production of oil and gas from the Contract Area subject to the payment of royalties and such other burdens to the extent such royalty and burdens are borne proportionately by all co-owners of the lease. Any such burden not common to the interest of the parties shall be borne by the party whose interest is burdened therewith.
Interests of Parties in Costs and Production. Unless changed by other provisions, all costs and liabilities incurred in operations under this Agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests are set forth in Exhibit "A". In the same manner, the parties shall also own all production of oil and gas from the Contract Area subject however, to the payment of royalties and other burdens on production as described hereafter.
