Common use of Rights Under Oklahoma Oil and Gas Owners’ Lien Act Clause in Contracts

Rights Under Oklahoma Oil and Gas Owners’ Lien Act. Mortgagor hereby grants, sells, assigns and sets over unto Agent during the term hereof, all of Mortgagor’s rights and interests pursuant to the provisions of the Oil and Gas Owners’ Lien Act (OKLA. STAT. tit. 52, §§ 548.l-548.6 (the “Oklahoma Act”), hereby vesting in Agent all of Mortgagor’s rights as an interest owner to the continuing security interest in and lien upon the oil or gas severed or the proceeds of sale. Agent may, at its option, file the verified notice of lien in order to perfect such lien, but shall not be obligated to make such filing and shall not be held liable to Mortgagor for any act or omission pursuant to the Oklahoma Act.

Rights Under Oklahoma Oil and Gas Owners’ Lien Act. Mortgagor hereby grants, sells, assigns and sets over unto Agent during the term hereof, all of Mortgagor’s rights and interests pursuant to the provisions of the Oil and Gas Owners’ Lien Act (OKLA. STAT. tit. 52, §§ 548.l-548.6 §548.1-548.6 (the “Oklahoma Act”), hereby vesting in Agent all of Mortgagor’s rights as an interest owner to the continuing security interest in and lien upon the oil or gas severed or the proceeds of sale. Agent may, at its option, file the verified notice of lien in order to perfect such lien, but shall not be obligated to make such filing and shall not be held liable to Mortgagor for any act or omission pursuant to the Oklahoma Act.

Rights Under Oklahoma Oil and Gas Owners’ Lien Act. Mortgagor hereby grants, sells, assigns and sets over unto Administrative Agent during the term hereof, all of Mortgagor’s rights and interests pursuant to the provisions of the Oil and Gas Owners’ Lien Act (OKLA. STAT. tit. 52, §§ 548.l-548.6 548.1-548.6 (the “Oklahoma Act”), hereby vesting in Administrative Agent all of Mortgagor’s rights as an interest owner to the continuing security interest in and lien Lien upon the oil or gas severed or the proceeds of sale. Administrative Agent may, at its option, file the verified notice of lien Lien in order to perfect such lienLien, but shall not be obligated to make such filing and shall not be held liable to Mortgagor for any act or omission pursuant to the Oklahoma Act.

Rights Under Oklahoma Oil and Gas Owners’ Lien Act. Mortgagor hereby grants, sells, assigns and sets over unto Agent during the term hereof, all of Mortgagor’s 's rights and interests pursuant to the provisions of the Oil and Gas Owners’ ' Lien Act (OKLA. STAT. tit. 52, §§ 548.l-548.6 Sections 548.1-548.6 (the “"Oklahoma Act”"), hereby vesting in Agent all of Mortgagor’s 's rights as an interest owner to the continuing security interest in and lien upon the oil or gas severed or the proceeds of sale. Agent may, at its option, file the verified notice of lien in order to perfect such lien, but shall not be obligated to make such filing and shall not be held liable to Mortgagor for any act or omission pursuant to the Oklahoma Act.