Lease Burdens. “Lease Burdens” means the royalties, overriding royalties, production payments, net profit interests, and all similar interests burdening the Leases or production therefrom, that are: (i) legally binding and enforceable at law or in equity; and (ii) the obligation with respect to which was created prior to the Effective Date, whether or not conveyed or of record prior to such date.
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Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement (EV Energy Partners, LP)
Lease Burdens. “Lease Burdens” means the royalties, overriding royalties, production payments, net profit interests, and all similar interests burdening the Leases or production therefrom, that are: (i) legally binding and enforceable at law are included in the burdens disclosed to Buyer prior to Closing or in equity; and (ii) the obligation with respect to which was created documents filed of record prior to the Effective Date, whether or not conveyed or of record prior to such dateTime.
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