Examples of After Payout in a sentence
After the Payout Date, Ramshorn and its representatives shall have access to all records regarding production data, future capital investment plans, marketing arrangements, processing arrangements and any other data necessary, as determined by Ramshorn in its reasonable discretion, to evaluate Ramshorn's After Payout Overriding Royalty Interest.
After the Payout Date, El Paso shall deliver to Ramshorn, with each cash payment of After Payout Overriding Royalty Interest proceeds, a statement in such detail as is required by applicable laws or regulations governing payments of oil and gas royalties, and with such additional detail as Ramshorn may reasonably specify reflecting the computation of such payment.
However, for the avoidance of doubt, Ramshorn shall be entitled to file a copy of the Memorandum of Purchase and Sale Agreement as a precautionary UCC non-standard financing statement to better evidence and perfect its interest in the Net Profits, Net Overriding Royalty Interest, the After Payout Overriding Royalty Interest, the Oil and Gas attributable thereto and the proceeds thereof.
If El Paso intends to sell its entire interest in a Subject Well in a transaction described in Section 5.3(a) after the date referred to therein, then El Paso shall have the option to purchase Ramshorn's Net Overriding Royalty Interest and After Payout Overriding Royalty Interest in the affected Subject Well by paying Ramshorn an amount in cash equal to (i) the Investment Percentage multiplied by (ii) the net sale proceeds attributable to such well.
Ramshorn may transfer or assign any portion of its rights and obligations hereunder, the Net Overriding Royalty Interest and/or the After Payout Overriding Royalty Interest to any Affiliate of Ramshorn.