Common use of Subsequently Created Interests Clause in Contracts

Subsequently Created Interests. If any Party has contributed a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interest, the burden shall be deemed a “Subsequently Created Interest.” Further, if any Party has contributed a Lease or Interest burdened with an overriding royalty, production payment, net profits interest, or other burden payable out of production created prior to the date of this agreement, and the burden is not shown on Exhibit “A,” the burden shall also be deemed a Subsequently Created Interest to the extent the burden causes the burdens on the Party’s Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, and discharge the Subsequently Created Interest and shall indemnify, defend, and hold harmless the other parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreement, all provisions of Article VII.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Party, or parties, all or a portion of its working interest and/or the production attributable to that interest, the other Party, or parties, shall receive the assignment and/or production free and clear of the Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Party, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreementAgreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interest, the burden shall be deemed a “Subsequently Created Interest.” Further, if any Party party has contributed a Lease or Interest burdened with an overriding royalty, production payment, net profits interest, or other burden payable out of production created prior to the date of this agreementAgreement, and the burden is not shown on Exhibit “A,” the burden shall also be deemed a Subsequently Created Interest to the extent the burden causes the burdens on the Partyparty’s Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, and discharge the Subsequently Created Interest and shall indemnify, defend, and hold harmless the other parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementAgreement, all provisions of Article VII.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement Agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interest, the other Partyparty, or parties, shall receive the assignment and/or production free and clear of the Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreementAgreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “Subsequently Created Interestinterest.” Further, if any Party has contributed a Lease or Interest burdened with an overriding royalty, production payment, net profits interest, or other burden payable out of production created prior to the date of this agreement, and the burden is not shown on Exhibit “A,” the burden shall also be deemed a Subsequently Created Interest to the extent the burden causes the burdens on the Party’s Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties from and against any liability therefortherefore. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. VII.A shall be enforceable against the Subsequently Created Interest interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement Agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the such other Partyparty, or parties, shall receive the such assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “"Subsequently Created Interest.” " Further, if any Party party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interestinterests, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “"A,” the " such burden also shall also be deemed a Subsequently Created Interest to the extent the such burden causes the burdens on the Party’s such party's Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “"Burdened Party”") shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties from and against any liability therefortherefore. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. VI1.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Partyparty, or parties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “"Subsequently Created Interest.” " Further, if any Party party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interestinterests, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “"A,” the " such burden also shall also be deemed a Subsequently Created Interest to the extent the such burden causes the burdens on the Party’s such party's Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “"Burdened Party”") shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Partyparty, or parties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “Subsequently Created Interest.” Further, if any Party party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interest, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “A,” the ”, such burden also shall also be deemed a Subsequently Created Interest to the extent the such burden causes the burdens on the Partysuch party’s Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties Parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Partyparty, or parties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party has contributed a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreementAgreement, any Party creates an overriding royalty, production payment, net profits interest, assignment of production production, or other burden payable out of production attributable to its working interest, the that burden shall be deemed a “Subsequently Created Interest.” Further, if any Party has contributed a Lease or Interest burdened with an overriding royalty, production payment, net profits interest, or other burden payable out of production production, created prior to the date of this agreementAgreement, and the burden is not shown on Exhibit “A,” the burden shall also be deemed a Subsequently Created Interest to the extent the burden causes the burdens on the Party’s Lease or Interest to exceed the amount stipulated in Article III.B. III.A. above. The Party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, and discharge the Subsequently Created Interest and shall indemnify, defend, and hold harmless the other parties Parties from and against any liability thereforon those interests. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under provided for in this agreementAgreement, all provisions of Article VII.B. VII.A. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement Agreement to assign or relinquish to any other Party, or partiesParties, all or a portion of its working interest and/or the production attributable to that its working interest, the other Party, or partiesParties, shall receive the assignment and/or production free and clear of the Subsequently Created Interest, and the Burdened Party shall indemnify, defend defend, and hold harmless said the other Party, or partiesParties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “Subsequently Created Interest.” Further, if any Party party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interestinterests, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “A,” the such burden also shall also be deemed a Subsequently Created Interest to the extent the such burden causes the burdens on the Partysuch party’s Lease or Interest to exceed the amount stipulated in Article III.B. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties from and against any liability thereforthere for. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Partyparty, or parties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “Subsequently Created Interest.” Further, if any Party party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interestinterests, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “A,” the such burden also shall also be deemed a Subsequently Created Interest to the extent the such burden causes the burdens on the Party’s such party's Lease or Interest to exceed the amount stipulated in Article III.B. HLB. above. The Party party whose interest is burdened with the Subsequently Created Interest (the “Burdened Party”) shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. VILB shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Partyparty, or parties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Partyparty, or parties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Partyparty, or parties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.

Subsequently Created Interests. If any Party has contributed hereto a Lease or Interest that is burdened with an assignment of production given as security for the payment of money, or if, after the date of this agreement, any Party creates an overriding royalty, production payment, net profits interest, assignment of production or other burden payable out of production attributable to its working interestinterest hereunder, the such burden shall be deemed a “"Subsequently Created Interest.” ". Further, if any Party has contributed hereto a Lease or Interest burdened with an overriding royalty, production payment, net profits interestinterests, or other burden payable out of production created prior to the date of this agreement, and the such burden is not shown on Exhibit “"A,” the ", such burden also shall also be deemed a Subsequently Created Interest to the extent the burden causes the burdens on the Party’s Lease or Interest to exceed the amount stipulated in Article III.B. aboveInterest. The Party whose interest is burdened with the Subsequently Created Interest (the “"Burdened Party”") shall assume and alone bear, pay, pay and discharge the Subsequently Created Interest and shall indemnify, defend, defend and hold harmless the other parties Parties from and against any liability therefor. Further, if the Burdened Party fails to pay, when due, its share of expenses chargeable under this agreementhereunder, all provisions of Article VII.B. VII.B shall be enforceable against the Subsequently Created Interest in the same manner as they are enforceable against the working interest of the Burdened Party. If the Burdened Party is required under this agreement to assign or relinquish to any other Party, or partiesParties, all or a portion of its working interest and/or the production attributable to that interestthereto, the said other Party, or partiesParties, shall receive the said assignment and/or production free and clear of the said Subsequently Created Interest, and the Burdened Party shall indemnify, defend and hold harmless said other Party, or partiesParties, from any and all claims and demands for payment asserted by owners of the Subsequently Created Interest.