Common use of Symbols and Abbreviations Clause in Contracts

Symbols and Abbreviations. The abbreviation “BPO” or the term “before payout” as used herein means that the figure next to which this abbreviation appears represents Mortgagor’s net income interest until such time as the operator of the well or xxxxx situated on the described property has recovered from production from that well or those xxxxx all costs as specified in underlying farmout assignments or other documents in the chain of title, usually including costs of drilling, completing and equipping a well or xxxxx plus costs of operating the well or xxxxx during the recoupment period.

Symbols and Abbreviations. The abbreviation “BPO” or the term “before payout” as used herein means that the figure next to which this abbreviation appears represents MortgagorXxxxxxxxx’s net income interest until such time as the operator of the well or xxxxx situated on the described property has recovered from production from that well or those xxxxx all costs as specified in underlying farmout assignments or other documents in the chain of title, usually including costs of drilling, completing and equipping a well or xxxxx plus costs of operating the well or xxxxx during the recoupment period.

Symbols and Abbreviations. The abbreviation “BPO” or the term “before payout” as used herein means that the figure next to which this abbreviation appears represents Mortgagor’s net income interest until such time as the operator of the well or xxxxx situated on wells situaxxx xn the described property has recovered from production from that well or those xxxxx wells all costs cxxxx as specified in underlying farmout farmouts, assignments or other documents in the chain of title, usually including costs of drilling, completing and equipping a well or wells plus xxxxx plus costs of operating the well or xxxxx during the wells durinx xxx recoupment period.

Symbols and Abbreviations. The abbreviation “BPO” or the term “before payout” as used herein means that the figure next to which this abbreviation appears represents MortgagorSeller’s net income interest until such time as the operator of the well or xxxxx situated on the described property has recovered from production from that well or those xxxxx all costs as specified in underlying farmout assignments or other documents in the chain of title, usually including costs of drilling, completing and equipping a well or xxxxx plus costs of operating the well or xxxxx during the recoupment period.