Common use of Valuation of State’s Royalty Share Clause in Contracts

Valuation of State’s Royalty Share. Pursuant to AS 38.05.180(aa) and (bb), within thirty (30) Days after the execution of this Agreement and before any deliveries of Gas are made under this Agreement, Seller shall submit a written request to the Department of Natural Resources to enter into an agreement with Seller to accept the price for the Gas established in this Agreement as the value of the State of Alaska’s royalty share of Gas production sold by Seller under this Agreement. The Parties shall use reasonable efforts and shall cooperate with one another and the State in seeking the State’s approval of the request.

Valuation of State’s Royalty Share. Pursuant to AS 38.05.180(aa) and (bb), within thirty (30) Days after the execution of Buyer submits this Agreement to the RCA and before any deliveries of Gas are made under this Agreement, Seller shall submit a written request to the Department of Natural Resources to enter into an agreement with Seller to accept the price for the Gas established in this Agreement as the value of the State of Alaska’s royalty share of Gas production sold by Seller under this Agreement. The Parties shall use reasonable efforts and shall cooperate with one another and the State in seeking the State’s approval of the request.

Valuation of State’s Royalty Share. Pursuant to AS 38.05.180(aa) and (bb), within thirty (30) Days after the execution of this Agreement and before any deliveries of Gas are made under this AgreementFourth Amendment, Seller shall submit a written request to the Department of Natural Resources to enter into an agreement with Seller to accept the price for the Gas established in this Agreement for each of Contract Year 10 through Contract Year 14 as the value of the State of Alaska’s 's royalty share of Gas production sold by Seller under this Agreementin each of Contract Year 10 through Contract Year 14. The Parties shall use reasonable efforts and shall cooperate with one another and the State in seeking the State’s 's approval of the request.. 

Valuation of State’s Royalty Share. Pursuant to AS 38.05.180(aa) and (bb), within thirty (30) Days after the execution of this Agreement and before any deliveries of Gas are made under this AgreementFirst Amendment, Seller shall submit a written request to the Department of Natural Resources to enter into an agreement with Seller to accept the price for the Gas established in this Agreement for Contract Year 5 as the value of the State of Alaska’s royalty share of Gas production sold by Seller under this Agreementin Contract Year 5. The Parties shall use reasonable efforts and shall cooperate with one another and the State in seeking the State’s approval of the request.