UNITIZATION. The Grantor shall not include the Royalty Lands or any part or parts thereof in a Unit Agreement or a Unit Operating Agreement for the unitized development and/or operation thereof with other lands without the consent of the Royalty Owner, which shall not be unreasonably withheld. Upon any such unitization, the Overriding Royalty shall be quantified on the basis of the production allocated to each Spacing Unit on the Royalty Lands under the plan of unitization and not upon the basis of actual production from the Royalty Lands. Further, each Spacing Unit for which production is allocated shall be deemed to have on Well thereon, regardless of the actual number of Xxxxx.
Appears in 5 contracts
Samples: Farmout Agreement (Park Place Energy Corp.), Seismic Option Agreement (Park Place Energy Corp.), Farmout Agreement (Park Place Energy Corp.)
