Committed Leases definition

Committed Leases means leases in respect of which definitive agreements have been entered into between the lessor and lessee (including legally binding letters of offer which have been accepted for vacant units).

Committed Leases means those Outer Continental Shelf (OCS) or State Waters leases set forth on Exhibit "A" hereto. The estimated proven recoverable reserves from the Committed Lease(s) attributable to Shipper's and/or its affiliates' interest or aggregated with other Xxxxxxx's interests in such lease(s) which are committed to Sea Xxxxx pursuant to this Reserve Commitment Agreement shall meet the eligibility requirements set forth in Rate Schedule FTS-2 of Sea Xxxxx's FERC Gas Tariff. Shipper shall provide to Sea Xxxxx supporting documentation for the reserves estimate, technical support data, and production development plans, including facilities design capacity, subject to a mutually agreeable confidentiality agreement to confirm Xxxxxxx's estimated proven recoverable reserves and to demonstrate Xxxxxxx's authority to dedicate the Committed Lease(s) under the terms of this Agreement.

Committed Leases means, in respect of the relevant Properties as at 31 December 2010, the following: (i) tenancy agreements, (ii) letters of offers which have been signed, and letters of offers pending execution by the tenants but in respect of which tenants have commenced operations on the relevant Properties and paid rent pursuant to the terms thereof, all such letters of offer to be followed up with tenancy agreements and (iii) security deposit letters counter-signed by the tenants and with security deposits paid by the tenants, all security deposit letters to be followed up with tenancy agreements and, each a “Committed Lease”.

Examples of Committed Leases in a sentence

• Thereafter, at least six (6) months prior to the beginning of each full calendar year during which Shipper's FT-2 Agreement is in effect, Shipper shall update its production profile, if so requested by HIOS, to support its MDQs and, when available, provide an actual production history for its Committed Lease(s) and an update of its technical data, which may be used by HIOS in evaluating the reasonableness of Shipper's proposed MDQs for each Delivery Period.

• Shipper must provide documentation or certification showing with respect to the Committed Lease(s): (i) that it has good title to the gas, that it has the requisite control of an Affiliate's gas or that it has an effective contractual right to acquire title for the life of the reserves; and (ii) that it has entered into all necessary arrangements to assure that the upstream and/or downstream transportation will be in place prior to the commencement of service.

• Shipper shall not receive any volumetric credit in the computation of the Shipper's three (3) month average daily throughput for gas transported by a Replacement Shipper relative to Shipper's FT-2 capacity, unless the gas being transported by the Replacement Shipper is produced from Shipper's Committed Lease(s).

• Any Shipper with Committed Lease(s) connected into HIOS' system on February 16, 1999, may be eligible for this Rate Schedule if the proven recoverable reserves associated with such Committed Lease(s) are less than 40 Bcf; however, if a Shipper with such Committed Lease(s) also has other Committed Lease(s) that were not connected into HIOS' system on February 16, 1999, then such other Committed Lease(s) must meet the 40 Bcf criteria set forth above.

• Shipper may request a separately stated MDQ under its FT-2 Agreement for specified delivery periods of not less than 3 consecutive months, hereinafter the "Delivery Periods"; provided, however, such separately stated MDQs must be supported by a life of reserves production forecast for the Committed Lease(s) provided hereunder; and provided further, that the MDQ shall not be less than 1,000 Mcf per day or the dekatherm equivalent thereof during any specified Delivery Period.

• The MDQ to be transported shall be supported by a life of reserves production forecast for the Committed Lease(s) prepared by Shipper or the operator(s) of the Committed Lease(s), which reflects production build-up and expected production throughout the life of the lease.

• This Agreement shall become effective on , and remain in full force and effect until the earlier of (i) the effective date of the surrender pursuant to the notice given by, or on behalf of Shipper, to the federal governmental body having authority, of the surrender of the last of the Committed Lease(s) listed in the Reserve Commitment Agreement, or (ii) until the Committed Lease(s) are released from dedication pursuant to the provisions of the Reserve Commitment Agreement.

• Such engineering firm shall not have been previously retained by Shipper or and other Shipper(s) holding an interest in the Committed Lease(s) for any analysis of the Committed Lease(s) prior to the Shipper or other Shipper(s) entering into their respective FT-2 Agreement.

• Information provided shall include identification of the OCS Lease(s) that define the Committed Lease(s), Shipper's interest therein, supporting documentation of estimated proven recoverable reserves from the Committed Lease(s) and production development plans, including facilities design capacity.

• For purposes of this Agreement, "Shipper's Gas" shall mean all Gas produced by or for the account of Shipper, or any affiliate of Shipper, from the Committed Lease(s).

More Definitions of Committed Leases

Committed Leases means those OCS or State Waters leases set forth on Exhibit "A" hereto.

Committed Leases means all leases in respect of the Properties covered by executed lease agreements or for which lease offer letters have been signed by the relevant lessor and lessee.