Rights and Obligations of Non-Abandoning Party Sample Clauses

Rights and Obligations of Non-Abandoning Party. After the relinquishment as above provided, the well shall be operated by Unit Operator for the account of the Non-Abandoning Party, that shall own all Production from the depths or formations in which the well is then completed and shall bear all Lease Burdens and other burdens thereafter incurred and Costs in operating the well and plugging it when abandoned (unless the well is taken over for Deepening or Plugging Back) and also the Costs of any additional tankage, flow lines, or other facilities needed to measure separately the unitized substances or water produced from the well. Costs shall include an overhead charge computed at the highest per well rate applicable to the operation of a single producing well in accordance with Exhibit 1, if the rate is provided.
Sample 1
AutoNDA by SimpleDocs
Rights and Obligations of Non-Abandoning Party. After the relinquishment above provided for such well shall be operated by Unit Operator for the account of the non-abandoning Party or Parties, who shall own all Available Production therefrom and shall bear all Lease Burdens and Costs thereafter incurred in operating the well and plugging it when abandoned, and also other Costs of any additional tankage, flow lines or other facilities needed to measure separately the Unitized Substances produced from the well; said operating costs shall include an overhead charge computed at the highest per well rate applicable to the operation of a single producing well in accordance with Exhibit 2, if such rate is provided. Non-abandoning Parties shall bear the costs of any separate metering necessary. [ARTICLES 26 - 28 intentionally omitted.] ARTICLE 29 SEVERAL, NOT JOINT LIABILITY
Sample 1

Related to Rights and Obligations of Non-Abandoning Party

  • Rights and Obligations of Party A I. Rights of Party A

  • Rights and Obligations of Party B 1. Party B’s Rights

  • Rights and Obligations of Both Parties 5.1 Party A’s rights and Obligations

  • Rights and Obligations of Members A. No Member shall be obligated to make capital contributions to the Company except as provided in Section 9A.

  • Additional Rights and Obligations If the Company issues securities in its next equity financing (other than a transaction with a strategic partner that involves a financing) within 180 days after the date hereof (the “Next Financing”) that (a) have rights, preferences or privileges that are more favorable than the terms of the Securities, such as price-based anti-dilution protection, or (b) provide all such future investors other contractual terms such as registration rights, the Company shall provide substantially equivalent rights to the Subscriber with respect to the Securities (with appropriate adjustment for economic terms or other contractual rights), subject to such Subscriber’s execution of any documents, including, if applicable, investor rights, co-sale, voting, and other agreements, executed by the investors purchasing securities in the Next Financing (such documents, the “Next Financing Documents”). Notwithstanding anything herein to the contrary, upon the execution and delivery of the Next Financing Documents by Subscriber holding a majority of the then-outstanding Securities, this Subscription Agreement (excluding any then-existing and outstanding obligations) shall be amended and restated by and into such Next Financing Documents and shall be terminated and of no further force or effect.

  • Rights and Obligations of the Parties 2.1 During the term of this Agreement, Party A’s rights and obligations include:

  • Independent Nature of Rights and Obligations Nothing contained herein, and no action taken by any party pursuant hereto, shall be deemed to constitute Investor and the Sponsor as, and the Sponsor acknowledges that Investor and the Sponsor do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that Investor and the Sponsor are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any matters, and the Sponsor acknowledges that Investor and the Sponsor are not acting in concert or as a group, and the Sponsor shall not assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement.

  • Rights and Obligations of Limited Partners 8.1 No Participation in Management. No Limited Partner (other than a General Partner if it has acquired an interest of a Limited Partner) shall take part in the management of the Partnership’s business, transact any business in the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership.

  • Absolute Rights and Obligations This is a guaranty of payment and not of collection. The Guarantors’ Obligations under this Guaranty Agreement shall be joint and several, absolute and unconditional irrespective of, and each Guarantor hereby expressly waives, to the extent permitted by law, any defense to its obligations under this Guaranty Agreement and all Security Instruments to which it is a party by reason of:

  • Party A’s Rights and Obligations 1. Party A guarantees that the products provided meet the quality and hygiene standards stipulated by the state;

Time is Money Join Law Insider Premium to draft better contracts faster.