Delay rental definition

Delay rental means the annual minimum payment given to maintain a lease in the absence of production in commercial quantities during the primary term.
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Examples of Delay rental in a sentence

  • Delay rental is expressed in the lease as a number of dollars per acre.

  • An adjustment is required for the amount of unsuccessful G & G costs expensed; Delay rental costs are capitalized for book and financial purposes; exploratory dry hole costs are capitalized for book and financial purposes.

  • Nonetheless, participating companies have to invest significant resources in terms of training and mentorship.

  • Delay rental payments negate the implied covenant to immediately develop; they do not serve to extend the primary term.Defendants' arguments and case law to the contrary have been considered and are rejected.

  • Delay rental payments are amounts paid to continue oil or gas leases when production activities are delayed.

  • Delay rental clauses are included in oil and gas leases because of the implied obligation to immediately develop the property or sufferforfeiture.

Related to Delay rental

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • To rent means to lease, to sublease, to let, or otherwise to grant for consideration the right to

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Lease or rental means the leasing or renting of tangible personal property and the possession or use

  • Residential Rental Unit means an area legally licensed or permitted for use as a living space containing a sleeping area, bathing and sanitation facilities and cooking facilities equipped with a cooking range, refrigerator and sink, all of which are separate and distinct from other Residential Rental Units. Reg. §§ 1.103-8(a) 8(i).

  • Room Rent Means the amount charged by a hospital for the occupancy of a bed on per day (24 hours) basis and shall include associated medical expenses.

  • Rental means the Supplier’s charging rate for the hire of the Hire Goods which is current from time to time during the Hire Period;