The Warranty. Assignor warrants to Assignee that (i) Assignor’s Net Revenue Interest in production of Minerals from each Development Well, determined prior to giving effect to this Conveyance and the Perpetual PUD Conveyance, is not less than the Assignor’s Net Revenue Interest used to calculate the NRI Factor for such Development Well pursuant to the Development Agreement, and (ii) the Royalty Interest is free of all Encumbrances, except for Permitted Encumbrances, in all cases by, through, or under Assignor and any predecessor Affiliate of Assignor, but not otherwise.
Appears in 3 contracts
Samples: Mortgage With Power of Sale (Chesapeake Granite Wash Trust), Mortgage With Power of Sale (Chesapeake Granite Wash Trust), Term Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
The Warranty. Assignor warrants to Assignee that (i) Assignor’s Net Revenue Interest in production of Minerals from each Development Well, determined prior to giving effect to this Conveyance and the Perpetual Term PUD Conveyance, is not less than the Assignor’s Net Revenue Interest used to calculate the NRI Factor for such Development Well pursuant to the Development Agreement, and (ii) the Royalty Interest is free of all Encumbrances, except for Permitted Encumbrances, in all cases by, through, or under Assignor and any predecessor Affiliate of Assignor, but not otherwise.
Appears in 2 contracts
Samples: Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust), Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
The Warranty. Assignor warrants to Assignee that (i) Assignor’s Net Revenue Interest in production of Minerals from each Development Well, determined prior to giving effect to this Conveyance and the Perpetual Term PUD Conveyance, is not no less than the Assignor’s Net Revenue Interest used to calculate the NRI Factor for such Development Well pursuant to the Development Agreement, and (ii) the Royalty Interest is free of all Encumbrances, except for Permitted Encumbrances, in all cases by, through, or under Assignor and any predecessor Affiliate of Assignor, but not otherwise.
Appears in 1 contract
Samples: Perpetual Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
The Warranty. Assignor warrants to Assignee that (i) Assignor’s Net Revenue Interest in production of Minerals from each Development Well, determined prior to giving effect to this Conveyance and the Perpetual PUD Conveyance, is not no less than the Assignor’s Net Revenue Interest used to calculate the NRI Factor for such Development Well pursuant to the Development Agreement, and (ii) the Royalty Interest is free of all Encumbrances, except for Permitted Encumbrances, in all cases by, through, or under Assignor and any predecessor Affiliate of Assignor, but not otherwise.
Appears in 1 contract
Samples: Term Overriding Royalty Interest Conveyance (Chesapeake Granite Wash Trust)
