Lease Acquisitions Sample Clauses

The LEASE ACQUISITIONS clause defines the terms and procedures under which a party may acquire leasehold interests in property. It typically outlines the requirements for identifying suitable properties, obtaining necessary approvals, and executing lease agreements, often specifying the roles and responsibilities of each party involved in the acquisition process. This clause ensures that the process of securing leases is conducted in an orderly and transparent manner, minimizing misunderstandings and allocating responsibility for due diligence and compliance.
Lease Acquisitions. Madoff will make available up to $175,000 for the acquisition of acreage associated with the Section 81 Well. All such acreage and the acquisition thereof shall be subject to Madoff approval after Madoff has had the opportunity to conduct due diligence with respect thereto.
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Lease Acquisitions. Said deposits by Dolphin and ▇▇▇▇▇▇ shall be applied to acquire 4,000 Net Mineral Acres in Leases under the Apollo Agreements.
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Lease Acquisitions. 25 Section 5.2. Title to Partnership Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Section 5.3. Lease Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Section 5.4. Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 ARTICLE VI Management ----------
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Lease Acquisitions. (a) BEC shall contribute and assign to the Partnership pursuant to Section 3.1 (a) the assets constituting the Business. The interest in each oil and/or gas property contributed to the Partnership by BEC shall cover all depths and horizons owned by BEC in and under the Lease for such property. (b) With respect to those assets that BEC cannot transfer to the Partnership on the Effective Date due to the failure or inability of BEC to obtain the consents of third parties necessary to effect such transfer (such assets are identified on Exhibit H hereto and are referred to herein as the "Unassigned Assets"), BEC shall use its best efforts to obtain such consents or otherwise take such action as shall be required to effect the transfer of the Unassigned Assets to the Partnership as soon as possible after the Effective Date. If BEC determines, after consulting with the GAP Representatives, that any Unassigned Asset cannot be transferred to the Partnership because of the failure or refusal of any third party to consent to such transfer, then BEC shall hold such Unassigned Asset in trust for the benefit of the Partnership, make such Unassigned Asset available for use by the Partnership (c) Subject to Section 6.2, during the term of this Agreement, the Chief Executive Officer and the Managing General Partner (if requested by the Chief Executive Officer) may cause the Partnership to acquire additional Leases that it deems suitable for acquisition by the Partnership for exploration or development purposes to the extent funds of the Partnership are available therefor.
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Lease Acquisitions. If either Party shall acquire any non-producing or producing Lease (and for this Subsection 10.1.1 "Lease" shall not include a Farmout) covering lands within the AMI, the other Party shall have the first and prior right to acquire its Proportionate Acquisition Interest in such Lease at cost, which right shall be exercised within fifteen (15) days after notification of the acquisition of such a Lease (and failure to respond within said time shall be deemed an election not to so acquire). A Party acquiring any such Lease shall promptly notify the other Party ("Notified Party") in writing of the acquisition thereof describing the interest acquired, stating the Lease Acquisition Costs thereof, and forwarding copies of all title information pertaining to the acquired Lease which is available to the acquiring Party. If the Notified Party elects or is deemed to have elected not to acquire its Proportionate Acquisition Interests in such Lease, then the Notified Party shall have no right, title or interest in or claim to such Lease. If the Notified Party elects to acquire its Proportionate Acquisition Interest in a Lease, such election shall be deemed an irrevocable obligation to pay such Party's share of the Lease Acquisition Costs thereof promptly upon receipt of an assignment from the acquiring Party. If any Lease covers lands lying both inside and outside the AMI, these provisions shall apply to only that portion of the Lease lying within the AMI. If Leases are acquired as a package, these provisions shall apply only to those Leases within, or partially within, the AMI. Further, the provisions of this Subsection 10.1.1 shall apply on a Lease by Lease basis to producing and non-producing Leases within (or partially within) the AMI acquired by as a result of merger, consolidation or other corporate acquisition. However, in such event the Lease Acquisition Costs for each non-producing Lease so acquired shall be the current fair leasing value of such Lease, and the Lease Acquisition Costs for each producing Lease so acquired shall be the current fair market value thereof determined based on the net discounted value of the future production therefrom.
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Lease Acquisitions 
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Related to Lease Acquisitions

  • No Acquisitions The Company shall not, nor shall it permit any of its Subsidiaries to, (i) acquire or agree to acquire by merging or consolidating with, or by purchasing a substantial equity interest in or a substantial portion of the assets of, or by any other manner, any business or any corporation, limited liability company, partnership, association or other business organization or division thereof or (ii) other than in the ordinary course of business, otherwise acquire or agree to acquire any assets which, in the case of this clause (ii), are material, individually or in the aggregate, to the Company.

  • Mergers, Acquisitions, Etc Merge or consolidate with any other entity or acquire all or a material part of the assets of any person or entity, or form or create any new Subsidiary or affiliate, or commence operations under any other name, organization, or entity, including any joint venture.

  • Property Acquisitions System Agency funds must not be used to purchase buildings or real property. Any costs related to the initial acquisition of the buildings or real property are not allowable.

  • Limited Condition Acquisitions Notwithstanding anything in this Agreement or any Loan Document to the contrary, when calculating any applicable ratio or any basket based on Consolidated EBITDA or total assets, or determining other compliance with this Agreement (including the determination of compliance with any provision of this Agreement which requires that no Default or Event of Default has occurred, is continuing or would result therefrom, but excluding Section 4.02 to the extent set forth therein) in connection with a Specified Transaction undertaken in connection with the consummation of a Limited Condition Acquisition, the date of determination of such ratio or any basket based on Consolidated EBITDA or total assets, and determination of whether any Default or Event of Default has occurred, is continuing or would result therefrom or other applicable covenant shall, at the option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Condition Acquisition, an “LCA Election”), be deemed to be the date the definitive agreements for such Limited Condition Acquisition are entered into (the “LCA Test Date”) and if, after such ratios and other provisions are measured on a Pro Forma Basis after giving effect to such Limited Condition Acquisition and the other Specified Transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if they occurred at the beginning of the applicable Test Period ending prior to the LCA Test Date, the Borrower could have taken such action on the relevant LCA Test Date in compliance with such ratios and provisions, such provisions shall be deemed to have been complied with; provided that no such acquisition shall constitute a Limited Condition Acquisition unless the Payment Conditions are satisfied on a Pro Forma Basis on the applicable LCA Test Date. For the avoidance of doubt, (x) if any of such ratios are exceeded as a result of fluctuations in such ratio (including due to fluctuations in Consolidated EBITDA of the Borrower and its Subsidiaries) at or prior to the consummation of the relevant Limited Condition Acquisition, such ratios and other provisions will not be deemed to have been exceeded as a result of such fluctuations solely for purposes of determining whether the Limited Condition Acquisition is permitted hereunder and (y) such ratios and other provisions shall not be tested at the time of consummation of such Limited Condition Acquisition or related Specified Transactions. If the Borrower has made an LCA Election for any Limited Condition Acquisition, then in connection with any subsequent calculation of any ratio or basket availability with respect to any other Specified Transaction on or following the relevant LCA Test Date and prior to the earlier of the date on which such Limited Condition Acquisition is consummated or the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Acquisition, any such ratio or basket shall be calculated on a Pro Forma Basis assuming such Limited Condition Acquisition and other transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) have been consummated.

  • Investments; Acquisitions Holdings and Company shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, make or own any Investment in any Person, including any Joint Venture, or acquire, by purchase or otherwise, all or substantially all the business, property or fixed assets of, or Capital Stock of, any Person, or any division or line of business of any Person except: (i) Holdings and its Subsidiaries may make and own Investments in Cash and Cash Equivalents; (ii) the Loan Parties may make and own Investments in Company and the Guarantors may make and own Investments in Company and other Guarantors and Subsidiaries that are not Guarantors may make and own Investments in Company and Subsidiaries that are not Guarantors; (iii) Company and its Subsidiaries may make intercompany loans and advances to the extent permitted under subsections 7.1(iii) and 7.1(vi); (iv) Holdings and its Subsidiaries may consummate the Merger and make related Investments in accordance with the terms and conditions of the Merger Agreement; (v) Company and its Subsidiaries may make Consolidated Capital Expenditures permitted by the First Lien Credit Agreement; (vi) Company and its Subsidiaries may continue to own the Investments owned by them and described in Schedule 7.3 annexed hereto, including any modification, replacement, renewal or extension thereof which does not increase the amount thereof; (vii) Company and its Subsidiaries may make Permitted Acquisitions; provided that (a) no Potential Event of Default or Event of Default shall have occurred and be continuing at the time such acquisition occurs or after giving effect thereto, (b) Company shall be in Pro Forma Compliance (as defined in the First Lien Credit Agreement as in effect on the Closing Date without giving effect to any waiver by lenders under the First Lien Credit Agreement of covenants in the First Lien Credit Agreement on which Pro Forma Compliance is based) after giving effect thereto, (c) Company and Holdings shall, and shall cause their Subsidiaries to, comply with the requirements of subsections 6.8 and 6.9 with respect to each such acquisition that results in a Person becoming a Subsidiary and (d) the aggregate fair market value of all direct and indirect Investments in Persons that do not become Guarantors resulting from all such acquisitions shall not exceed in the aggregate $12,500,000; (viii) Company and the Subsidiary Guarantors may make and own equity Investments in their respective wholly owned Foreign Subsidiaries; provided that the amount of all such Investments constituting equity Investments made from and after the Closing Date minus the amount of all cash dividends, distributions and other payments actually received by Company or any of the Subsidiary Guarantors in respect of such equity investments after the Closing Date (the “Net Foreign Equity Investment Amount”) shall not at any time exceed the excess of (x) $12,500,000, minus (y) the aggregate principal amount of Indebtedness outstanding under subsection 7.1(vi); (ix) Holdings and Company may acquire and hold obligations of one or more officers or other employees of Holdings or its Subsidiaries in connection with such officers’ or employees’ acquisition of shares of its Capital Stock, so long as no cash is actually advanced by Holdings or any of its Subsidiaries to such officers or employees in connection with the acquisition of any such obligations; (x) Company and its Subsidiaries may receive and hold promissory notes and other noncash consideration received in connection with any Asset Sale permitted by subsection 7.6; (xi) Company and the Subsidiary Guarantors may make and own other Investments in an aggregate amount not to exceed at any time (x) $18,000,000 plus (y) the Specified Equity Amount; (xii) Company and its Subsidiaries may make and own Investments in connection with the workout, bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary course of business; (xiii) Company and its Subsidiaries may make and own Investments consisting of lease, utility and other deposits or advances in the ordinary course of business; (xiv) [Reserved]; (xv) Company and its Subsidiaries may make and own Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business; (xvi) Holdings and its Subsidiaries may enter into Hedge Agreements as permitted under subsection 7.1(xi); (xvii) Company and its Subsidiaries may make and own Investments in the ordinary course of business consisting of indorsements for collection or deposit; (xviii) Holdings and its Subsidiaries may make and own Investments consisting of loans and advances of payroll payments to employees in the ordinary course of business; and (xix) Company and its Subsidiaries may acquire and hold any Investment existing at the time a Person becomes a Subsidiary of Company or any Subsidiary pursuant to subsection 7.6(viii).