Rights and Duties Regarding Sale of Assignee Minerals. Assignor shall market or shall cause to be marketed Assignor’s Net Share of Minerals (including Assignee Minerals) in good faith and in accordance with the Reasonably Prudent Operator Standard and Section 4.02(d). Assignor shall use its reasonable efforts in connection with any sale of Assignor’s Net Share of Minerals (including Assignee Minerals) to obtain, as soon as reasonably practicable, full payment for such Minerals; provided, however, that it shall not be considered a breach of Assignor’s marketing duty or standard of conduct for Assignor to market such Minerals to an Affiliate of Assignor, so long as Assignor does not market such Minerals at a volume-weighted average price lower than the volume-weighted average price upon which Assignor pays royalties to the owners of the other royalty interests in the Subject Minerals, save and excepting Chargeable Costs provided for in Article III hereof.
Appears in 22 contracts
Samples: Term Overriding Royalty Interest (SandRidge Mississippian Trust II), Term Overriding Royalty Interest (SandRidge Mississippian Trust II), Perpetual Overriding Royalty Interest Conveyance (SandRidge Mississippian Trust II)
Rights and Duties Regarding Sale of Assignee Minerals. Assignor shall market or shall cause to be marketed Assignor’s Net Share of Minerals (including Assignee Minerals) in good faith and in accordance with the Reasonably Prudent Operator Standard and Section 4.02(d). Assignor shall use its commercially reasonable efforts in connection with any sale of Assignor’s Net Share of Minerals (including Assignee Minerals) to obtain, as soon as reasonably practicable, full payment for such Minerals; provided, however, that it shall not be considered a breach of Assignor’s marketing duty or standard of conduct for Assignor to market such Minerals to an Affiliate of Assignor, so long as Assignor does not market such Minerals at a volume-weighted average price lower than the volume-weighted average price upon which Assignor pays royalties to the owners of the other royalty interests in the Subject MineralsMinerals during any applicable 30-day period, save and excepting Chargeable Costs provided for in Article III hereof.
Appears in 10 contracts
Samples: Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Mortgage With Power of Sale (Chesapeake Granite Wash Trust)
