Third Party Xxxxx Sample Clauses

Third Party Xxxxx. The Carry Amount may be applied to xxxxx drilled by third parties in the South Block on the Leases or lands pooled therewith upon the mutual agreement of EnCana and STML, which agreement shall not be unreasonably withheld.

Third Party Xxxxx. Many third party operators ignore the Founder Affiliates’ Joint Interest as being separate from the Company’s Joint Interest and send bills, payments and notices directly to the Company for the Founder Affiliates’ Joint Interest. In such circumstances, the Company will continue billing and paying the Founder Affiliates, but will work pro-actively with third party operators to have the Founder Affiliates’ Joint Interest separately recognized. The Company will use all commercially reasonable efforts to deliver to the Founder Affiliates any notice from a third party operator pertaining to the Founder Affiliates’ Joint Interest, but to the extent the notice is not delivered at least 10 days prior to the deadline for taking any action required by the notice, the Company will make the same election with respect to the Founder Affiliates’ Joint Interest as the Company makes for its own Joint Interest unless the Company intends to elect non-consent, in which case the Founder Affiliates’ default election will be to consent to the proposed third-party operation. The Founder Affiliates shall advise the Company of their election with respect to third party well proposals prior to the election due date by sending a copy to a designated email address at the Company with a copy to the Company’s appropriate land manager and the Company’s general counsel. The Company will assist the Founder Affiliates in their efforts to change the third party operators’ records so that the Founder Affiliates are paid and billed directly by the third party operators. The Company will direct any third party operator to enter into a joint operating agreement directly with the Founder Affiliates.

Third Party Xxxxx. 17 10.6 Limitations............................................... 18

Third Party Xxxxx. In the event an independent third party proposes a well in a governmental production unit that includes Retained Interests the Gothic Parties will within five (5) days after the Gothic Parties receive notice of the proposal provide written notice of the well proposal to Chesapeake and will, thereafter, notify Chesapeake in writing in not less than ten (10) days after the Gothic Parties receive the proposal if the Gothic Parties elect to participate in such third party well or elect not to participate in such third party well. For purposes of this Agreement the term Proposal includes any forced pooling action or other unitization by order of any governmental agency. In the event the Gothic Parties do not elect to participate with all or part of the Retained Interest in such well or fail to notify Chesapeake of the Gothic Parties' decision to participate within the required time period, the Gothic Parties will at Chesapeake's election be deemed to have agreed to farmout the Retained Interest included in the Prospect for such third party well to Chesapeake on terms no less favorable to Chesapeake than the terms the third party proposing the well offered to the Gothic Parties in the initial written well proposal. Notwithstanding the foregoing, a well will not be a third party proposed well and will be deemed a Proposed Well and subsequent to the farmout provisions at paragraph 10.2 of this Agreement if: (a) Chesapeake or the Gothic Parties propose the well in accordance with this Agreement prior to receipt of the written well proposal from a third party; (b) after the well is proposed by the third party Chesapeake or the Gothic Parties are or have the right to become the operator of the well; or (c) the well is proposed by the third party at the instigation of the Gothic Parties or Chesapeake. The acreage earned pursuant to any such farmout will be limited to the Retained Interest included in the governmental production unit for the third party well as finally approved by the appropriate governmental authority and will be deemed earned on the earlier of the completion of such Proposed Well as a producing well or the drilling of such Proposed Well to the total proposed depth. The Gothic Parties agree to execute such additional documents as Chesapeake reasonably requests, to assign to Chesapeake the interest earned under the foregoing farmout within thirty (30) days after such interest is earned and to execute such additional documents as Chesapeake, reasonably ...

Third Party Xxxxx