Dedicated Leases definition
Examples of Dedicated Leases in a sentence
Producers shall also inform Processor as part of the Annual Information of any plans to purchase or sell Dedicated Lease(s).
In the event any Dedicated Leases acquired in a Large Transaction that are made subject to the Dedication are subject to a Prior Dedication at the time of the closing of the Large Transaction, the provisions of this Agreement relating to Prior Dedications will apply to such Dedicated Leases.
This conveyance of Gas Processing Rights shall be irrevocable as to "Dedicated Leases".
For a period of 20 years after the Termination Date, as to Leases (other than Dedicated Leases) from which Gas is discovered to be ultimately produced by Producers ("New Volumes"), Producers agree to provide Processor, as soon as reasonably practicable, with notice of the estimated quantity of New Volumes and the estimated date on which such New Volumes will be available for Processing.
This Contract shall remain in effect for the life of the gas leases contained within the Dedicated Leases.
Notwithstanding the above, if Producer reasonably believes that it will be unable to identify Dedicated Leases acquired in a Large Transaction covering the Minimum Acreage Threshold, Producer may request that the additional Dedicated Leases for such Large Transaction cover lands within the Dedicated Area consisting of [***] gross acres, which request shall be subject to the prior written consent of Gatherer, which consent shall not be unreasonably withheld, conditioned or delayed.
The Dedicated Leases acquired in a Large Transaction that are not made subject to the Dedication pursuant to this Section 2.4(b) will be free and clear of the Dedication unless and until Producer elects to commit any such Dedicated Leases to the Dedication.
In determining the applicable Dedicated Leases to be subject to the Dedication, Producer will use Reasonable Efforts to first select Dedicated Leases (i) that are contiguous to existing Dedicated Leases and/or on which portions of the System are then-located, and (ii) are not subject to Prior Dedications, before selecting additional Dedicated Leases to be subject to the Dedication.
As to any Dedicated Leases, or portions thereof, that were transferred or assigned by Producers to third parties during the period of January 1, 1998 through May 30, 1999, inclusive, that were not made subject to the Third Amendment as a condition of any such transfer or assignment ("Excepted Leases"), Processor waives the application of the Third Amendment as to the Excepted Leases, and the Parties agree that this Agreement shall not apply to the Excepted Leases.
Each of the Dedicated Leases is in full force and effect and is the valid and binding obligation of the member of the Remaining Seller Group or the applicable Transferred Entity party thereto and, to such members’ or Transferred Entity’s knowledge, each other party thereto, in accordance with their respective terms.