Common use of Security Interest in Favor of the Non-operators Clause in Contracts

Security Interest in Favor of the Non-operators. To secure the complete and timely performance of and payment by the Operator of all obligations and indebtedness of every kind and nature, whether now owed by the Operator or hereafter arising, pursuant to this Agreement, the Operator hereby grants to each Non-Operator a continuing security interest in and to all of its rights, titles, interests, claims, general intangibles, proceeds, and products thereof, whether now existing or hereafter acquired, in and to (a) all hydrocarbons produced from the lands or offshore blocks covered by the Lease or included within the Lease or attributable to the Lease when produced, (b) all accounts receivable accruing or arising as a result of the sale of such hydrocarbons (including, without limitation, accounts arising from gas imbalances or from the sale of hydrocarbons at the wellhead), (c) all cash or other proceeds from the sale of such hydrocarbons once produced, and (d) all Platforms and Development Facilities, wells, fixtures, other corporeal property whether movable or xxxxvable, whether now or hereafter placed on the offshore blocks covered by the Lease or maintained or used in connection with the ownership, use or exploitation of the Lease, and other surface and sub-surface equipment of any kind or character located on or attributable to the Lease and the cash or other proceeds realized from the sale, transfer, disposition or conversion thereof. The interest of the Operator in and to the hydrocarbons produced from or attributable to the Lease when extracted and the accounts receivable accruing or arising as the result of the sale thereof shall be financed at the wellhead of the well or wells located on the Lease. To the extent susceptible under xxxxxcable law, the security interest granted by the Operator hereunder covers: (A) all substitutions, replacements, and accessions to the property of the Operator described herein and is intended to cover all of the rights, titles and interests of the Operator in all movable property now or hereafter located upon or used in connection with the Lease, whether corporeal or incorporeal; (B) all rights under any gas balancing agreement, farmout rights, option farmout rights, acreage and cash contributions, and conversion rights of the Operator in connection with the Lease, the hydrocarbons produced from or attributable to the Lease, whether now owned and existing or hereafter acquired or arising, including, without limitation, all interests of the Operator in any partnership, tax partnership, limited partnership, association, joint venture, or other entity or enterprise that holds, owns, or controls any interest in the Lease; and (C) all rights, claims, general intangibles, and proceeds, whether now existing or hereafter acquired, of the Operator in and to the contracts, agreements, permits, licenses, rights-of-way, and similar rights and privileges that relate to or are appurtenant to the Lease, including the following:

Security Interest in Favor of the Non-operators. To For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration of the mutual covenants and agreements contained in this Agreement, to secure the complete and timely performance of and payment by the Operator to each of the Non-Operators of all obligations and indebtedness of every kind and natureindebtedness, whether now owed by the Operator or hereafter arising, of the Operator to such Non-Operators pursuant to this Agreement, the Operator hereby grants to each of the Non-Operator Operators a continuing security interest in and to all of its rights, titles, interests, claims, general intangibles, proceeds, and products thereof, whether now existing or hereafter acquiredacquired or arising, in and to (a) all hydrocarbons oil, gas, and other minerals produced from the lands or offshore blocks covered by the Lease or included within the Lease or attributable to the Lease Leases or the Contract Area--when produced, ; (b) all accounts receivable accruing or arising as a result of the sale of such hydrocarbons oil, gas, and other minerals (including, without limitation, accounts arising from gas imbalances or from the sale of hydrocarbons oil, gas and other minerals at the wellhead), ; (c) all cash or other proceeds from the sale of such hydrocarbons oil, gas, and other minerals once produced, ; and (d) all Platforms and Development Facilitiesplatforms; wells, wellsfacilities, fixtures, tools, tubular goods, other corporeal property whether movable or xxxxvablepersonal property, whether now or hereafter placed on the offshore blocks covered by Leases or the Lease Contract Area or maintained or used or obtained for use in connection with the ownership, use or exploitation of the LeaseLeases or the Contract Area, and other surface and sub-surface equipment of any kind or character located on or attributable to the Lease Leases or the Contract Area, and the cash or other proceeds realized from the sale, transfer, disposition or conversion thereof, excluding, however, any platforms, wells, facilities, fixtures, equipmxxx xr property located on the Leases or the Contract Area and used exclusively in connection with the ownership, use or exploitation of acreage or depths not included within the Leases or Contract Area. The interest of the the, Operator in and to the hydrocarbons oil, gas, and other minerals produced from or attributable to the Lease Leases when extracted and the accounts receivable accruing or arising as the result of the sale thereof shall be financed at the wellhead of the well or wells located on the LeaseLeases or the Xxxxxact Area. To the extent susceptible permissible under xxxxxcable applicable law, the security interest granted by the Operator hereunder covers: (Aa) all substitutions, replacements, and accessions to the property of the Operator described herein and is intended to cover all of the rights, titles and interests of the Operator in all movable personal property now or hereafter located upon or used in connection with the LeaseContract Area, whether corporeal tangible or incorporealintangible, except for property used exclusively in connection with acreage or depths not included in the Leases or Contract Area as aforesaid; (Bb) all rights under any gas balancing agreement, farmout rights, option farmout rights, acreage and cash contributions, and conversion rights of the Operator in connection with the LeaseLeases or the Contract Area, or the hydrocarbons oil, gas and other minerals produced from or attributable to the LeaseLeases or the Contract Area, whether now owned and existing or hereafter acquired or arising, including, without limitation, all interests of the Operator in any partnership, tax partnership, limited partnership, association, joint venture, or other entity or enterprise to the extent that it holds, owns, or controls any interest in the LeaseContract Area; and (Cc) all rights, claims, general intangibles, and proceeds, whether now existing or hereafter acquiredacquired or arising, of the Operator in and to the contracts, agreements, permits, licenses, rights-of-way, and similar rights and privileges that relate to or are appurtenant to the LeaseLeases or the Contract Area, including the following:

Security Interest in Favor of the Non-operators. To secure the complete and timely performance of and payment by the Operator of all obligations and indebtedness of every kind and nature, whether now owed by the Operator or hereafter arising, pursuant to this Agreement, the Operator hereby grants to each Non-Operator Non operator a continuing security interest in and to all of its rights, titles, interests, claims, general intangibles, proceeds, and products thereof, whether now existing or hereafter acquired, in and to (a) all hydrocarbons Hydrocarbons produced from the lands or offshore blocks covered by the Lease Contract Area or included within the Lease Contract Area or attributable to the Lease Contract Area when produced, (b) all accounts receivable accruing or arising as a result of the sale of such hydrocarbons Hydrocarbons (including, without limitation, accounts arising from gas imbalances or from the sale of hydrocarbons Hydrocarbons at the wellhead), (c) all cash or other proceeds from the sale of such hydrocarbons Hydrocarbons once produced, and (d) all Platforms and Development Facilities, wells, fixtures, other corporeal property whether movable or xxxxvablemovaxxx xr immovable, whether now or hereafter placed on the offshore blocks covered by the Lease Contract Area or maintained or used in connection with the ownership, use or exploitation of the LeaseContract Area, and other surface and sub-surface equipment of any kind or character located on or attributable to the Lease Contract Area and the cash or other proceeds realized from the sale, transfer, disposition or conversion thereof. The interest of the Operator in and to the hydrocarbons Hydrocarbons produced from or attributable to the Lease Contract Area when extracted and the accounts receivable accruing or arising as the result of the sale thereof shall be financed at the wellhead of the well or wells located on the LeaseContract Area. To the extent susceptible suscxxxxxle under xxxxxcable applicable law, the security interest granted by the Operator hereunder covers: (A) all substitutions, replacements, and accessions to the property of the Operator described herein and is intended to cover all of the rights, titles and interests of the Operator in all movable property now or hereafter located upon or used in connection with the LeaseContract Area, whether corporeal or incorporeal; (B) all rights under any gas balancing agreement, farmout rights, option farmout rights, acreage and cash contributions, and conversion rights of the Operator in connection with the LeaseContract Area, the hydrocarbons Hydrocarbons produced from or attributable to the LeaseContract Area, whether now owned and existing or hereafter acquired or arising, including, without limitation, all interests of the Operator in any partnership, tax partnership, limited partnership, association, joint venture, or other entity or enterprise that holds, owns, or controls any interest in the LeaseContract Area; and (C) all rights, claims, general intangibles, and proceeds, whether now existing or hereafter acquired, of the Operator in and to the contracts, agreements, permits, licenses, rights-of-way, and similar rights and privileges that relate to or are appurtenant to the LeaseContract Area, including the following:

Security Interest in Favor of the Non-operators. To secure the complete and timely performance of and payment by the Operator of all obligations and indebtedness of every kind and nature, whether now owed by the Operator or hereafter arising, pursuant to this Agreement, the Operator hereby grants to each Non-Operator a continuing security interest in and to all of its rights, titles, interests, claims, general intangibles, proceeds, and products thereof, whether now existing or hereafter acquired, in and to (a) all hydrocarbons produced from the lands or offshore blocks covered by the Lease or included within the Lease or attributable to the Lease when produced, (b) all accounts receivable accruing or arising as a result of the sale of such hydrocarbons (including, without limitation, accounts arising from gas imbalances or from the sale of hydrocarbons at the wellhead), (c) all cash or other proceeds from the sale of such hydrocarbons once produced, and (d) all Platforms and Development Facilities, wells, fixtures, other corporeal xxxxxreal property whether movable or xxxxvableimmovable, whether now or hereafter placed on the offshore blocks covered by the Lease or maintained or used in connection with the ownership, use or exploitation of the Lease, and other surface and sub-surface equipment of any kind or character located on or attributable to the Lease and the cash or other proceeds realized from the sale, transfer, disposition or conversion thereof. The interest of the Operator in and to the hydrocarbons produced from or attributable to the Lease when extracted and the accounts receivable accruing or arising as the result of the sale thereof shall be financed at the wellhead of the well or wells located on the Lease. To the extent xxxxnt susceptible under xxxxxcable applicable law, the security interest granted by the Operator hereunder covers: (A) all substitutions, replacements, and accessions to the property of the Operator described herein and is intended to cover all of the rights, titles and interests of the Operator in all movable property now or hereafter located upon or used in connection with the Lease, whether corporeal or incorporeal; (B) all rights under any gas balancing agreement, farmout rights, option farmout rights, acreage and cash contributions, and conversion rights of the Operator in connection with the Lease, the hydrocarbons produced from or attributable to the Lease, whether now owned and existing or hereafter acquired or arising, including, without limitation, all interests of the Operator in any partnership, tax partnership, limited partnership, association, joint venture, or other entity or enterprise that holds, owns, or controls any interest in the Lease; and (C) all rights, claims, general intangibles, and proceeds, whether now existing or hereafter acquired, of the Operator in and to the contracts, agreements, permits, licenses, rights-of-way, and similar rights and privileges that relate to or are appurtenant to the Lease, including the following:

Security Interest in Favor of the Non-operators. To secure the complete and timely performance of and payment by the Operator of all obligations and indebtedness of every kind and nature, whether now owed by the Operator or hereafter arising, pursuant to this Agreement, the Operator hereby grants to each Non-Operator operator a continuing security interest in and to all of its rights, titles, interests, claims, general intangibles, proceeds, and products thereof, whether now existing or hereafter acquired, in and to (a) all hydrocarbons oil, gas and other minerals produced from the lands or offshore blocks covered by the Lease Leases within the Contract Area or included within the Lease Leases within the Contract Area or attributable to the Lease Leases within the Contract Area when produced, (b) all accounts receivable accruing or arising as a result of the sale of such hydrocarbons oil, gas and other minerals (including, without limitation, accounts arising from gas imbalances or from the sale of hydrocarbons oil, gas and other minerals at the wellhead), (c) all cash or other proceeds from the sale of such hydrocarbons oil, gas and other minerals once produced, and (d) all Platforms and Development Facilities, wellswxxxx, fixtures, other corporeal property whether movable or xxxxvableimmovable, whether now or hereafter placed on the offshore blocks covered by the Lease Leases within the Contract Area or maintained or used in connection with the ownership, use or exploitation of the LeaseLeases within the Contract Area, and other surface and sub-surface equipment of any kind or character located on or attributable to the Lease Leases within the Contract Area and the cash or other proceeds realized from the sale, transfer, disposition or conversion thereof. The interest of the Operator in and to the hydrocarbons oil, gas and other minerals produced from or attributable to the Lease Leases within the Contract Area when extracted and the accounts receivable accruing or arising as the result of the sale thereof shall be financed at the wellhead of the well or wells wxxxx located on the LeaseLeases within the Contract Area. To the extent susceptible under xxxxxcable applicable law, the security interest granted by the Operator hereunder covers: (A) all substitutions, replacements, and accessions to the property of the Operator described herein and is intended to cover all of the rights, titles and interests of the Operator in all movable property now or hereafter located upon or used in connection with the LeaseLeases within the Contract Area, whether corporeal or incorporeal; (B) all rights under any gas balancing agreement, farmout rights, option farmout rights, acreage and cash contributions, and conversion rights of the Operator in connection with the LeaseLeases within the Contract Area, the hydrocarbons oil, gas and other minerals produced from or attributable to the LeaseLeases within the Contract Area, whether now owned and existing or hereafter acquired or arising, including, without limitation, all interests of the Operator in any partnership, tax partnership, limited partnership, association, joint venture, or other entity or enterprise that holds, owns, or controls any interest in the LeaseLeases within the Contract Area; and (C) all rights, claims, general intangibles, and proceeds, whether now existing or hereafter acquired, of the Operator in and to the contracts, agreements, permits, licenses, rights-of-way, and similar rights and privileges that relate to or are appurtenant to the LeaseLeases within the Contract Area, including the following: