RATE OF PRODUCTION Sample Clauses

RATE OF PRODUCTION. All production and the disposal thereof shall be in conformity with allocations, allotments, and quotas made or fixed by the Division, and in conformity with all applicable laws and lawful regulations.
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RATE OF PRODUCTION. Grantor shall use its best efforts to prudently operate and produce the Subject Xxxxx (or, if any Subject Xxxxx are operated by a third party, cause the Subject Xxxxx to be prudently operated and produced) in accordance with the terms of the joint operating agreements and in accordance with good engineering practices and the following requirements: (i) the amount of Hydrocarbons produced from any Subject Well shall not exceed in any Month the lower of (x) the maximum amount that in the good faith judgment of the operator is capable of producing at its maximum efficient rate of flow or (y) the respective allowable rate of flow under applicable orders, rules, regulations or laws, if any; (ii) the amount of Hydrocarbons produced from the Subject Xxxxx shall be in the good faith judgment of the operator sufficient to prevent a net migration of Hydrocarbons from the reservoirs to which proved reserves are attributed underlying the Subject Interest; and (iii) subject to field rules established by governmental authorities having or asserting jurisdiction, the amount of Hydrocarbons produced from the Subject Xxxxx shall be equitable and ratable, based on factors used in determining such field rules.
Sample 1Sample 2Sample 3See All (4)
RATE OF PRODUCTION. (a) Grantor shall prudently operate and produce with respect to those Subject Wellx xxxrated by Grantor, and shall use Grantor's best efforts to cause to be prudently operated and produced, with respect to the Subject Wellx xxx operated by Grantor in accordance with good engineering practices and the following requirements: (i) the amount of Hydrocarbons produced from any Subject Well shall not exceed in any Month the lower of (x) the maximum amount that the Subject Well is capable of producing at its maximum efficient rate of flow or (y) the respective allowable rate of flow under applicable orders, rules, regulations or laws, if any; (ii) the amount of Hydrocarbons produced from the Subject Wellx xxxll be sufficient to prevent a net migration of Hydrocarbons from the reservoirs to which proved reserves are attributed to the Subject Properties; and (iii) subject to field rules established by governmental authorities having or asserting jurisdiction, the amount of Hydrocarbons produced from the Subject Wellx xxxll be equitable and ratable, based on factors used in determining such field rules.
Sample 1
RATE OF PRODUCTION. (a) Grantor shall prudently operate and produce with respect to those Subject Xxxxx operated by Grantor, and shall use Grantor's best efforts to cause to be prudently operated and produced, with respect to the Subject Xxxxx not operated by Grantor in accordance with good engineering practices and the following requirements: (i) the amount of Hydrocarbons produced from any Subject Well shall not exceed in any Month the lower of (x) the maximum amount that the Subject Well is capable of producing at its maximum efficient rate of flow or (y) the respective allowable rate of flow under applicable orders, rules, regulations or laws, if any; (ii) the amount of Hydrocarbons produced from the Subject Xxxxx shall be sufficient to prevent a net migration of Hydrocarbons from the reservoirs to which proved reserves are attributed to the Subject Properties; and (iii) subject to field rules established by governmental authorities having or asserting jurisdiction, the amount of Hydrocarbons produced from the Subject Xxxxx shall be equitable and ratable, based on factors used in determining such field rules. (b) Subject to the provisions of Section 3(a), Grantor shall use Grantor's best efforts to cause the Subject Xxxxx to produce each Month that quantity of Hydrocarbons sufficient to cause the Monthly PP Amount to equal the product obtained by multiplying the Subject Quantity for such Month times the Spot Price for such Month. (c) If for any reason at any time, or from time to time, (i) (y) there has been an acceleration in the rate of production of Hydrocarbons from the Subject Interests for any one Month period that exceeds the rates set forth in the reserve report prepared by Netherland, Xxxxxx & Associates (the "Independent Engineer") dated as of December 31, 2000 attributable to such Month, or (z) any required operation to be undertaken by Grantor is not timely performed in accordance with the terms hereof, and (ii) the ratio that the Tail Reserves bears to the Remaining 2 <PAGE> 80 Reserves is less than the Required Percentage (as defined in Section 3(f)), then in addition to any other rights or remedies available to Grantee, then Grantee shall have the right, at Grantee's option, to cause the remaining Scheduled Amounts shall be adjusted as provided in Section 3(d). As used in this Section 3, "Tail Reserves" means, as of the date of any determination, the Risk Adjusted Proved Reserves of Hydrocarbons projected to be attributable to the Subject Interests determin...
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RATE OF PRODUCTION. All production and foe disposal thereof shell be in conformity with allocations, allotments, and quota made or fixed by foe Division, and in conformity with all applicable laws and lawful regulations.
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RATE OF PRODUCTION. Seller shall cause (or if Seller is not the operator, shall use its reasonable best efforts to cause) any xxxxx now located or hereafter drilled on the lands covered by the Subject Interests (the "Subject Xxxxx") to be prudently operated and produced in accordance with good engineering practices. Seller shall also use its reasonable best efforts to cause the Subject Xxxxx to produce each day that quantity of Production Payment Hydrocarbons equal to its pro rata part of the Gas Subject Quantity and Oil Subject Quantity for such day.
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RATE OF PRODUCTION. Unico agrees to use its best efforts to mine and remove mineral ores from the leased premises beginning upon the Effective Date or as soon thereafter as is feasible as rapidly and in such quantities each month as reasonably can be done, unavoidable delays, shortages of fuel and labor, market conditions, adverse weather and other conditions beyond the control of Unico to be taken into consideration as well as reasonable start-up time. Unico agrees that as a condition to continuing this Lease, Unico shall timely comply with and perform the work plan attached hereto as Exhibit C, and shall deliver to Crown Mines evidence reasonably satisfactory to Crown Mines, at Crown Mine's request from time to time, that such work plan is being timely performed.
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RATE OF PRODUCTION. Unico agrees to use its best efforts to mine and remove mineral ores from the leased premises beginning upon the Effective Date or as soon thereafter as is feasible, as rapidly and in such quantities each month as reasonably can be done, unavoidable delays, shortages of fuel and labor, market conditions, adverse weather and other conditions beyond the control of Unico to be taken into consideration as well as reasonable start-up time. A copy of Lessee's initial work plan is attached hereto as Exhibit A.
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Related to RATE OF PRODUCTION

  • Rate of Exchange upon request by the Issuer, inform the Issuer of the spot rate of exchange quoted by it for the purchase of the currency in which the relevant Notes are denominated against payment of euro (or such other currency specified by the Issuer) on the date on which the Relevant Agreement (as defined in the Dealer Agreement) in respect of such Notes was made; and

  • Rate of Interest The Rate of Interest payable from time to time in respect of Floating Rate Notes will be determined in the manner specified in the applicable Final Terms.

  • Highest Lawful Rate It is the intention of the parties hereto that each Agent and each Lender shall conform strictly to usury laws applicable to it. Accordingly, if the transactions contemplated hereby or by any other Loan Document would be usurious as to any Agent or any Lender under laws applicable to it (including the laws of the United States of America and the State of New York or any other jurisdiction whose laws may be mandatorily applicable to such Agent or such Lender notwithstanding the other provisions of this Agreement), then, in that event, notwithstanding anything to the contrary in this Agreement or any other Loan Document or any agreement entered into in connection with or as security for the Obligations, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under law applicable to any Agent or any Lender that is contracted for, taken, reserved, charged or received by such Agent or such Lender under this Agreement or any other Loan Document or agreements or otherwise in connection with the Obligations shall under no circumstances exceed the maximum amount allowed by such applicable law, any excess shall be canceled automatically and if theretofore paid shall be credited by such Agent or such Lender on the principal amount of the Obligations (or, to the extent that the principal amount of the Obligations shall have been or would thereby be paid in full, refunded by such Agent or such Lender, as applicable, to the Borrowers); and (ii) in the event that the maturity of the Obligations is accelerated by reason of any Event of Default under this Agreement or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under law applicable to any Agent or any Lender may never include more than the maximum amount allowed by such applicable law, and excess interest, if any, provided for in this Agreement or otherwise shall, subject to the last sentence of this Section 12.18, be canceled automatically by such Agent or such Lender, as applicable, as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Agent or such Lender, as applicable, on the principal amount of the Obligations (or, to the extent that the principal amount of the Obligations shall have been or would thereby be paid in full, refunded by such Agent or such Lender to the Borrowers). All sums paid or agreed to be paid to any Agent or any Lender for the use, forbearance or detention of sums due hereunder shall, to the extent permitted by law applicable to such Agent or such Lender, be amortized, prorated, allocated and spread throughout the full term of the Loans until payment in full so that the rate or amount of interest on account of any Loans hereunder does not exceed the maximum amount allowed by such applicable law. If at any time and from time to time (x) the amount of interest payable to any Agent or any Lender on any date shall be computed at the Highest Lawful Rate applicable to such Agent or such Lender pursuant to this Section 12.18 and (y) in respect of any subsequent interest computation period the amount of interest otherwise payable to such Agent or such Lender would be less than the amount of interest payable to such Agent or such Lender computed at the Highest Lawful Rate applicable to such Agent or such Lender, then the amount of interest payable to such Agent or such Lender in respect of such subsequent interest computation period shall continue to be computed at the Highest Lawful Rate applicable to such Agent or such Lender until the total amount of interest payable to such Agent or such Lender shall equal the total amount of interest which would have been payable to such Agent or such Lender if the total amount of interest had been computed without giving effect to this Section 12.18. For purposes of this Section 12.18, the term “applicable law” shall mean that law in effect from time to time and applicable to the loan transaction between the Borrowers, on the one hand, and the Agents and the Lenders, on the other, that lawfully permits the charging and collection of the highest permissible, lawful non-usurious rate of interest on such loan transaction and this Agreement, including laws of the State of New York and, to the extent controlling, laws of the United States of America. The right to accelerate the maturity of the Obligations does not include the right to accelerate any interest that has not accrued as of the date of acceleration.

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Rate Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if, as and when declared by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum equal to the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated Preferred Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (i.e., no dividends shall accrue on other dividends unless and until the first Dividend Payment Date for such other dividends has passed without such other dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period”, provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the next Dividend Payment Date. Dividends that are payable on Designated Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months, and actual days elapsed over a 30-day month. Dividends that are payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th calendar day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a Business Day. Holders of Designated Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends (if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of the Certificate of Designations).

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