Common use of LEASE MAINTENANCE PAYMENTS Clause in Contracts

LEASE MAINTENANCE PAYMENTS. Prior to the time Newfield receives an Assignment under this Agreement, Apache shall pay any rentals and/or minimum royalty necessary to perpetuate the Apache Lease. Subsequent to such Assignment, Apache will continue to make such payments; provided however, Apache may be relieved of such obligation at such time as all wells on the Apache Lease in which Apache has a working interest are xx xonger capable of producing in Apache's sole judgment and Apache gives Newfield notice at least sixty (60) days prior to any payment due date, and thereafter Newfield shall be responsible for such payments. Any payments made by Apache prior or subsequent to any Assignment hereunder, shall be reimbursed to Apache by Newfield within thirty (30) days of its receipt of invoice for such payment. Upon the written request of a non-paying Party, the Party responsible for making the rental or minimum royalty payments shall provide proof of any such payment.

Appears in 2 contracts

Samples: Participation Agreement (Ridgewood Energy O Fund LLC), Participation Agreement (Ridgewood Energy T Fund LLC)

AutoNDA by SimpleDocs

LEASE MAINTENANCE PAYMENTS. Prior to the time Newfield receives an Assignment under this Agreement, Apache shall pay any rentals and/or minimum royalty necessary to perpetuate the Apache Lease. Subsequent to such Assignment, Apache will continue to make such payments; provided however, Apache may be relieved of such obligation at such time as all wells on the Apache Lease in which Apache has a working interest are xx xonger xxnger capable of producing in Apache's sole judgment and Apache gives Newfield notice at least sixty (60) days prior to any payment due date, and thereafter Newfield shall be responsible for such payments. Any payments made by Apache prior or subsequent to any Assignment hereunder, shall be reimbursed to Apache by Newfield within thirty (30) days of its receipt of invoice for such payment. Upon the written request of a non-paying Party, the Party responsible for making the rental or minimum royalty payments shall provide proof of any such payment.

Appears in 2 contracts

Samples: Participation Agreement (Ridgewood Energy v Fund LLC), Participation Agreement (Ridgewood Energy P Fund LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.