Common use of Pooling and Unitization Clause in Contracts

Pooling and Unitization. Mortgagor shall have the right, and is hereby authorized, to pool or unitize all or any part of the Leases and Lands, insofar as they are related to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagor, it is necessary or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx proration of the production therefrom; provided, however, that any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not exceed 640 acres, unless a larger area is required to conform to any applicable law or governmental order or regulation relating to the spacing of wellx xx to obtain the maximum, allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in such proportion as is prescribed by applicable law. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately after formation of any such unit, Mortgagor shall furnish to Mortgagee

Pooling and Unitization. Mortgagor shall have The Borrower has the right, and is hereby authorized, to pool or unitize all or any part of the Leases and Landsany tract of land described in Exhibit A, insofar as they are related relates to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagorthe Borrower, it is necessary or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby thereby, or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx xxxxx or proration of the production therefrom; provided, however, that any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not exceed 640 acres, unless a larger area is required to conform to any applicable law or governmental order or regulation relating to the spacing of wellx xx to obtain the maximum, allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in thereof; and provided further that the Borrower is not entitled to form any such proportion as is prescribed by applicable lawunit without the written consent of the Lender (which consent shall not be unreasonably withheld) if the effect of such formation would be to decrease the amount of Hydrocarbons which would be subject to this Mortgage. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately Immediately after formation of any such unit, Mortgagor the Borrower shall furnish to Mortgageethe Lender a true copy of the pooling agreement, declaration of pooling or other instrument creating such unit, in such number of counterparts as the Lender may reasonably request. The interest in any such unit attributable to the Mortgaged Property (or any part thereof) included therein shall become a part of the Mortgaged Property and shall be subject to the Lien hereof in the same manner and with the same effect as though such unit and the interest of the Borrower therein were specifically described in Exhibit A. The Borrower may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of the Lender.

Pooling and Unitization. Mortgagor shall have the right, and is hereby authorized, to pool or unitize all or any part (a) Certain of the Leases and Lands, insofar as they are related to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagor, it is necessary Subject Interests may have been pooled or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx proration of the production therefrom; provided, however, that any unit so formed unitized for the production of oil oil, gas and/or minerals prior to the Effective Date or, after the Effective Date, may be so pooled or unitized pursuant to Section 5.7(b). Such Subject Interests are and shall not substantially exceed 160 acresbe subject to the terms and provisions of such pooling and unitization agreements, and any unit so formed for the Production Payment in each such Subject Interest shall apply to (and the term "Subject Hydrocarbons" shall include) the production of gas shall not exceed 640 acres, unless a larger area from such Units which is required attributable to conform to any applicable law or governmental order or regulation relating to such Subject Interest (and the spacing of wellx xx to obtain the maximum, allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed Net Profits Account shall be allocated among computed giving consideration to such (b) Grantee shall have the separately owned tracts right and power to unitize, pool or interests comprising combine the unit in proportion lands covered by the Subject Interests, or any portion or portions thereof, with any other land or lease or leases so as to the respective surface areas thereof or in such proportion as is prescribed by applicable law. Any unit so formed may relate to create one or more zones unitized areas (or, with respect to unitized or horizonspooled areas theretofore created, to dissolve the same or to amend and/or reconfigure the same to include additional acreage or substances or to exclude acreage or substances). If pursuant to any law, rule, regulation or order of any governmental body or official, any of the Subject Interests are pooled or unitized in any manner, the Production Payment insofar as it affects such Subject Interest shall also be deemed pooled and unitized, and a unit formed for a particular zone or horizon need not conform in area any such event the Production Payment shall apply to any other unit relating to a different zone or horizon, (and a unit formed for the term "Subject Hydrocarbons" shall include) the production which accrues to such Subject Interest under and by virtue of oil need such pooling and unitization arrangements and the Net Profits Account shall be computed giving consideration to such production and costs, expenses, charges and credits attributable to such Subject Interest under and by virtue of such pooling and unitization arrangement. Notwithstanding the foregoing provisions of Section 5.7(b), Grantee shall have no right or interest in any Well that is not conform specifically described on Exhibit "B" or in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately after formation of from any such unit, Mortgagor shall furnish to MortgageeWell.

Pooling and Unitization. Mortgagor shall Borrower will have the right, right and is hereby authorized, authorized to pool or unitize all or any part of the Leases any Oil and Lands, insofar as they are related to the Mortgaged Property, Gas Properties with adjacent lands, leaseholds and other interests, when, interests when in the reasonable judgment of MortgagorBorrower, it is necessary or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property Oil and Gas Properties affected thereby thereby, or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx xxxxx or proration of the production therefrom; provided, however, that any unit so formed for the production of oil shall will not substantially exceed 160 80 acres, and any unit so formed for the production of gas shall will not substantially exceed 640 320 acres, unless a larger area is required to conform to any an applicable law or governmental order or regulation relating to the spacing of wellx xx xxxxx or to obtain the maximum, maximum allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall will be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in such proportion as is prescribed by applicable lawthereof. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area area, to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon Immediately after the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately after formation of any such unit, Mortgagor . Borrower shall furnish to MortgageeBeneficiary a true copy of the pooling agreement declaration of pooling or other instrument creating such unit, in such manner of counterparts as Beneficiary may reasonably request. The interest in any such unit attributable to the Oil and Gas Properties (or any part thereof) included therein as well as any other interest Borrower may have in such unit will become a part of the Property and will be subject to the lien hereof in the same manner and with the same effect as though such unit and the interest of Borrower therein were specifically described in EXHIBIT “A”. Borrower may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of Beneficiary.

Pooling and Unitization. Mortgagor shall have the right, and is hereby authorized, to pool or unitize all or any part of the Leases and Landslands described in Exhibit A, insofar as they are related relates to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagor, it is necessary or advisable to do so in order to form a drilling and/or production unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby thereby, or to comply with the requirements of any law Applicable Law or governmental order or regulation relating to the spacing of wellx xx wells or proration of the production therefrom; provided, however, that xxxx any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not substantially exceed 640 acres, unless a larger area is required to conform to any applicable law an Applicable Law or governmental order or regulation relating to the spacing of wellx xx wells or to obtain the maximum, maximum allowable production under any applicable law Xxxxxcable Law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in such proportion as is prescribed by applicable lawa uniform manner consistently applied. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately Immediately after formation of any such unit, Mortgagor shall furnish to Mortgageethe Trustees and the Agent a true copy of the pooling agreement, declaration of pooling or other instrument creating such unit, in such number of counterparts as the Trustees may reasonably request. The interest in any such unit attributable to the Mortgaged Property (or any part thereof) included therein shall become a part of the Mortgaged Property and shall be subject to the lien hereof in the same manner and with the same effect as though such unit and the interest of Mortgagor therein were specifically described in Exhibit A. Mortgagor may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of the Agent, which consent shall not be unreasonably withheld.

Pooling and Unitization. The Mortgagor shall have has the right, and is hereby authorized, to pool pooi or unitize all or any part of the Leases and Landsany tract of land described in Exhibit A, insofar as they are related relates to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of the Mortgagor, it is necessary or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby thereby, or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx xxxxx or proration of the production therefrom; provided, however, that any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not exceed 640 acres, unless a larger area is required to conform to any applicable law or governmental order or regulation relating to the spacing of wellx xx to obtain the maximum, allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in thereof; and provided further that the Mortgagor is not be entitled to form any such proportion as is prescribed by applicable lawunit without the written consent of the Lender (which consent shall not be unreasonably withheld) if the effect of such formation would be to decrease the amount of Hydrocarbons which would be subject to this Mortgage. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately Immediately after formation of any such unit, the Mortgagor shall furnish to Mortgageethe Lender a true copy of the pooling agreement, declaration of pooling or other instrument creating such unit, in such number of counterparts as the Lender may reasonably request. The interest in any such unit attributable to the Mortgaged Property (or any part thereof) included therein shall become a part of the Mortgaged Property and shall be subject to the Lien hereof in the same manner and with the same effect as though such unit and the interest of the Mortgagor therein were specifically described in Exhibit A. The Mortgagor may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of the Lender.

Pooling and Unitization. Mortgagor shall have The Borrower has the right, and is hereby authorized, to pool or unitize all or any part of the Leases and Landsany tract of land described in Exhibit "A", insofar as they are related relates to the Mortgaged Property, with adjacent lands, leaseholds and other interests, when, in the reasonable judgment of Mortgagorthe Borrower, it is necessary or advisable to do so in order to form a drilling unit to facilitate the orderly development of that part of the Mortgaged Property affected thereby thereby, or to comply with the requirements of any law or governmental order or regulation relating to the spacing of wellx xx wells or proration of the production therefrom; provided, howeverhowexxx, that any unit so formed for the production of oil shall not substantially exceed 160 acres, and any unit so formed for the production of gas shall not exceed 640 acres, unless a larger area is required to conform to any applicable law or governmental order or regulation relating to the spacing of wellx xx to obtain the maximum, allowable production under any applicable law or governmental order or regulation relating to the proration of production therefrom; and further provided that the Hydrocarbons produced from any unit so formed shall be allocated among the separately owned tracts or interests comprising the unit in proportion to the respective surface areas thereof or in thereof; and provided further that the Borrower shall not be entitled to form any such proportion as is prescribed by applicable lawunit without the written consent of the Lender (which consent shall not be unreasonably withheld) if the effect of such formation would be to decrease the amount of Hydrocarbons which would be subject to this Mortgage. Any unit so formed may relate to one or more zones or horizons, and a unit formed for a particular zone or horizon need not conform in area to any other unit relating to a different zone or horizon, and a unit formed for the production of oil need not conform in area with any unit formed for the production of gas. Upon the written request of Mortgagee, as to all such units theretofore formed, and thereafter formed, immediately Immediately after formation of any such unit, Mortgagor the Borrower shall furnish to Mortgageethe Lender a true copy of the pooling agreement, declaration of pooling or other instrument creating such unit, in such number of counterparts as the Lender may reasonably request. The interest in any such unit attributable to the Mortgaged Property (or any part thereof) included therein shall become a part of the Mortgaged Property and shall be subject to the Lien hereof in the same manner and with the same effect as though such unit and the interest of the Borrower therein were specifically described in Exhibit "A". The Borrower may enter into pooling or unitization agreements not hereinabove authorized only with the prior written consent of the Lender.