Common use of MONETARY PAYMENT TERMS Clause in Contracts

MONETARY PAYMENT TERMS. Monetary payments must be paid to the Lessor in accordance with the Rules in effect at the time payments are due. As of the Effective Date, the Rules specify that: (i) payments must be made to the Board of Regents of the University of Texas System; (ii) royalties due on oil are due on or before the 5th day of the second month following production (e.g., royalties on oil produced in January must be paid on or before March 5th); and (iii) royalties on gas are due on or before the 15th day of the second month following production (e.g., royalties due on gas produced in January must be paid on or before March 15th). All payments must be directed to the following address, or to any other address specified by Xxxxxx in writing: UT System Board of Regents c/o University Lands Attention: Accounting Manager X.X. Xxx 000 Xxxxxxx, Xxxxx 00000-0000 Payments submitted electronically must be delivered by electronic funds transfer to the proper account with the Comptroller of the State of Texas, pursuant to written instructions and designation of the Lessor.

MONETARY PAYMENT TERMS. Monetary payments must be paid to the Lessor University Lands in accordance with the Rules in effect at the time payments are due. As of the Effective Date, the Rules specify that: (i) payments must be made to the Board of Regents of the University of Texas System; (ii) royalties due on oil are due on or before the 5th day of the second month following production (e.g., royalties on oil produced in January must be paid on or before March 5th); ) and (iii) royalties on gas are due on or before the 15th day of the second month following production (e.g., royalties due on gas produced in January must be paid on or before March 15th). All payments must be directed to the following address, or to any other address specified by Xxxxxx University Lands in writing: UT System Board of Regents c/o University Lands Attention: Accounting Manager X.X. Xxx 000 XxxxxxxP.O. Box 553 Midland, Xxxxx 00000Texas 79702-0000 0553 Payments submitted electronically must be delivered by electronic funds transfer to the proper account with the Comptroller of the State of Texas, pursuant to written instructions and designation of the LessorUniversity Lands.

MONETARY PAYMENT TERMS. Monetary payments must be paid to the Lessor in accordance with the Rules in effect at the time payments are due. As of the Effective Date, the Rules specify that: (i) payments must be made to the Board of Regents of the University of Texas System; (ii) royalties due on oil are due on or before the 5th day of the second month following production (e.g., royalties on oil produced in January must be paid on or before March 5th); and (iii) royalties on gas are due on or before the 15th day of the second month following production (e.g., royalties due on gas produced in January must be paid on or before March 15th). All payments must be directed to the following address, or to any other address specified by Xxxxxx Lessor in writing: UT System Board of Regents c/o University Lands Attention: Accounting Manager X.X. Xxx 000 Xxxxxxx, Xxxxx 00000-0000 Payments submitted electronically must be delivered by electronic funds transfer to the proper account with the Comptroller of the State of Texas, pursuant to written instructions and designation of the Lessor.

MONETARY PAYMENT TERMS. Monetary payments must be paid to the Lessor in accordance with the Rules in effect at the time payments are due. As of the Effective Date, the Rules specify that: (i) payments must be made to the Board of Regents of the University of Texas System; (ii) royalties due on oil are due on or before the 5th day of the second month following production (e.g., royalties on oil produced in January must be paid on or before March 5th); and (iii) royalties on gas are due on or before the 15th day of the second month following production (e.g., royalties due on gas produced in January must be paid on or before March 15th). All payments must be directed to the following address, or to any other address specified by Xxxxxx in writing: UT System Board of Regents c/o University Lands Attention: Accounting Manager X.X. Xxx 000 XxxxxxxP.O. Box 553 Midland, Xxxxx 00000Texas 79702-0000 0553 Payments submitted electronically must be delivered by electronic funds transfer to the proper account with the Comptroller of the State of Texas, pursuant to written instructions and designation of the Lessor.