Leasehold Earning and Assignment Sample Clauses

Leasehold Earning and Assignment. Exhibit "A" lists the current ownership interests of Chevron in the Primary Prospect Lease(s). Exhibit "A" also lists the portions of Chevron's interest, based on 100% leasehold working interest in the Lease(s), that Chevron shall assign to Company subject to satisfaction by Company of the earning provisions stated in this Article 3 during the term of this Agreement. The rights of Company to earn interests in the Primary Prospect under the terms of this Agreement shall not extend beyond December 31, 2007, and no Initial Test Well or Substitute Well for a Primary Prospect may be proposed by either Party after said date. Prospect acreage earned and the assignment(s) due will cover Operating Rights Interest as to the Company ACP Interest in and to the acreage and depths listed on Exhibit "A" in that portion of the Lease(s) in the Prospect, and on a form of assignment as shown on Exhibits "D-1"or "D-2", as applicable, and subject to the reversionary rights of Chevron as stated in said assignment(s), for recordation by the Parties in the public records of the adjacent parish. Company shall promptly file any and all assignments made pursuant to this Agreement or a Farmout Agreement in the public records of the adjacent parish and as a non-required filing (for any assignment of a Prospect which is included in or subject to a federal unit agreement), or required fling, for any assignment of a Prospect which is not included in or subject to a federal unit agreement), whichever is applicable, with the Minerals Management Service for the Lease(s) assigned hereunder and timely provide Chevron a certified copy with recordation data. Any assignment earned by Company and made by Chevron for an Additional Opportunities Prospect(s) as shown on Exhibit "B" will be under the terms and conditions as provided for herein. Any assignment made by Chevron as a result of this Agreement will be made specifically subject to this Agreement, and to the restrictions, exceptions, limitations and obligations stated in the agreements listed on Exhibit "C", as applicable, for that portion of the Lease(s) to be assigned. These agreements will be referenced in any assignment made. An assignment will only be earned by Company: (a) Upon (i) Company's participation in an Initial Test Well on a Prospect, (ii) which reaches its Casing Point for the Objective Depth, and (iii) regardless if the well is a Successful Well or not in the Available Acreage for that Prospect, then Company will be entitled...
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Related to Leasehold Earning and Assignment

  • SUBLEASING AND ASSIGNMENT The Sublessee may not lease, sublease, or assign the Premises without the prior written consent of the Sublessor.

  • Subletting and Assignment Subject to the provisions of Article 19 and Section 20.2 and any other express conditions or limitations set forth herein, Lessee may, but only with the consent of Lessor (which shall not be unreasonably withheld or delayed), (a) assign this Lease or sublet all or any part of the Leased Property to an Affiliate of Lessee, or (b) sublet any retail or restaurant portion of the Leased Improvements in the normal course of the Primary Intended Use; provided that any subletting to any party other than an Affiliate of Lessee shall not individually as to any one such subletting, or in the aggregate, materially diminish the actual or potential Percentage Rent payable under this Lease. In the case of a subletting, the sublessee shall comply with the provisions of Section 20.2, and in the case of an assignment, the assignee shall assume in writing and agree to keep and perform all of the terms of this Lease on the part of Lessee to be kept and performed and shall be, and become, jointly and severally liable with Lessee for the performance thereof. Notwithstanding the above, Lessee may assign the Lease to an Affiliate without the consent of Lessor; provided that any such assignee assumes in writing and agrees to keep and perform all of the terms of the Lease on the part of Lessee to be kept and performed and shall be and become jointly and severally liable with Lessee for the performance thereof. In case of either an assignment or subletting made during the Term, Lessee shall remain primarily liable, as principal rather than as surety, for the prompt payment of the Rent and for the performance and observance of all of the covenants and conditions to be performed by Lessee hereunder. An original counterpart of each such sublease and assignment and assumption, duly executed by Lessee and such sublessee or assignee, as the case may be, in form and substance satisfactory to Lessor, shall be delivered promptly to Lessor.

  • Sublease and Assignment Tenant shall have the right without Landlord's consent, to assign this Lease to a corporation with which Tenant may merge or consolidate, to any subsidiary of Tenant, to any corporation under common control with Tenant, or to a purchaser of substantially all of Tenant's assets. Except as set forth above, Tenant shall not sublease all or any part of the Leased Premises, or assign this Lease in whole or in part without Landlord's consent, such consent not to be unreasonably withheld or delayed.

  • Benefit and Assignment This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. No party hereto may voluntarily or involuntarily assign such party's interest under this Agreement without the prior written consent of the other parties.

  • Licenses and Assignments Except as otherwise permitted by the Secured Debt Agreements, each Assignor hereby agrees not to divest itself of any right under any Patent or Copyright absent prior written approval of the Collateral Agent.

  • Xxxx of Sale and Assignment Xxxx of Sale and Assignment for the Property (the “Xxxx of Sale”) executed by Seller and Purchaser assigning to Purchaser the Tangible Personal Property, in the form attached to this Agreement as Exhibit D.

  • SUB-CONTRACTING AND ASSIGNMENT 18.1 Subject to clause 18.3, neither party shall assign, novate, subcontract or otherwise dispose of any or all of its rights and obligations under this agreement without the prior written consent of the other party, neither may the Supplier sub-contract the whole or any part of its obligations under this agreement except with the express prior written consent of the Authority, such consent not to be unreasonably withheld. 18.2 In the event that the Supplier enters into any Sub-Contract in connection with this agreement it shall: (a) remain responsible to the Authority for the performance of its obligations under the agreement notwithstanding the appointment of any Sub-Contractor and be responsible for the acts omissions and neglects of its Sub-Contractors; (b) impose obligations on its Sub-Contractor in the same terms as those imposed on it pursuant to this agreement and shall procure that the Sub-Contractor complies with such terms; and (c) provide a copy, at no charge to the Authority, of any such Sub-Contract on receipt of a request for such by the Authority’s Authorised Representative. 18.3 The Authority shall be entitled to novate (and the Supplier shall be deemed to consent to any such novation) the agreement to any other body which substantially performs any of the functions that previously had been performed by the Authority.

  • Sale and Assignment On the terms and conditions set forth herein, effective on and as of the Assignment Date, the Assignor hereby sells, assigns and transfers to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, all of the right, title and interest of the Assignor in and to, and all of the obligations of the Assignor in respect of, the Assigned Interest. Such sale, assignment and transfer is without recourse and, except as expressly provided in this Agreement, without representation or warranty.

  • CESSION AND ASSIGNMENT The Service Provider shall not cede, assign, abandon or transfer any of its rights and/or obligations in terms of this Agreement (whether in part or in whole) or delegate any of its obligations in terms of this Agreement, without the prior written consent of the Fund.

  • Assignment and Assumption of Leases Two (2) counterparts of the Assignment and Assumption of Leases, executed, acknowledged and sealed by Purchaser;

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