Operator’s Lien. To secure the payment of all sums due from Developer to Operator under this Agreement, the Developer grants Operator a first and preferred lien on and security interest in the following: (i) the Developer’s interest in the Leases covered by this Agreement; (ii) the Developer’s interest in oil and gas produced under this Agreement and its share of the proceeds from the sale of the oil and gas; and (iii) the Developer’s interest in materials and equipment under this Agreement.
Appears in 6 contracts
Samples: Drilling and Operating Agreement (Atlas Resources Series 28-2010 L.P.), Drilling and Operating Agreement (Atlas Resources Series 28-2010 L.P.), Drilling and Operating Agreement (Atlas Resources Public #17-2007 (A) L.P.)
Operator’s Lien. To secure the payment of all sums due from Developer to Operator under the provisions of this Agreement, Agreement the Developer grants Operator a first and preferred lien on and security interest in the following:
(i) the Developer’s interest in the Leases covered by this Agreement;
(ii) the Developer’s interest in oil and gas produced under this Agreement and its share of the proceeds from the sale of the oil and gas; and
(iii) the Developer’s interest in materials and equipment under this Agreement.
Appears in 2 contracts
Samples: Drilling and Operating Agreement (Atlas America Public #15-2005 (B) L.P.), Drilling and Operating Agreement (Atlas America Public #15-2005 Program)
