Existing Burdens definition

Existing Burdens means (i) any royalty, overriding royalty, production payment, and other similar burdens on production which burden the Subject Leases at the time of acquisition by either Party, and (ii) the Reserved Overriding Royalty Interest.

Existing Burdens means Lease Burdens and Permitted Encumbrances of record as of the Effective Date or of which Buyer has received written notice prior to the Closing Date.

Existing Burdens means all royalties, overriding royalties, production payments, net profits interests, and all similar non-expense bearing interests burdening the Subject Leases, or production therefrom, which are evidenced by an instrument or instruments filed of record in Caddo or DeSoto Parish on or prior to the date of execution of this Agreement by Assignor.

Examples of Existing Burdens in a sentence

• In this connection, Samedan agrees to honor and perform, as to the interest assigned, all of the conditions, obligations, and covenants included in the Existing Burdens affecting the properties and prospects that McMoRan assigns hereunder.

• The Subject Interests Existing Burdens include, but are not limited to, those burdens, encumbrances, contracts, and other agreements that are described on Exhibit B.

• Other than the Existing Burdens, Seller has not created any liens, claims or Encumbrances affecting the Assets Seller shall provide a Special Warranty of title to the Assets to Buyer by, through and under Seller, but not otherwise, with full power of substitution and subrogation.

• Seller represents that the Lease Burdens and other Existing Burdens on the Xxxxx do not reduce the Net Revenue Interest below the percentages set forth on Schedule 1.44.

• The term "Existing Burdens" includes the royalties reserved by the owners of the minerals, and an overriding royalty interests of 0.07500000 previously reserved by Xxxxxx Oil Company in a partial assignment to X.X. Xxxxxx recorded in Volume 1584, Page 294 of the Records of Nararro County, Texas, production payments; and other payments our of, or with respect to production, with which the assigned premises are burdened with as of he date hereof.

More Definitions of Existing Burdens

Existing Burdens the total of Lessor Royalty Burdens and Override Burdens attributable to the Subject Leases, determined on a lease by lease basis.

Existing Burdens means, for any period, the aggregate amounts payable in respect of existing royalty, overriding royalty and other cost-free interests as a result of production of Hydrocarbons from the Subject Interests which burdens have been taken into account in determining the working interests and the net revenue interests in the Initial Subject Interests disclosed to Lender on Item 1.1 of the Disclosure Schedule.

Existing Burdens has the meaning assigned to that term in the Conveyances.

Existing Burdens means all existing and valid non-cost bearing burdens in effect as of the Effective Time affecting the Leases including the landowner’s or lessor’s royalty, overriding royalties, net profits interests, production payments, and any other charges or existing non-cost bearing burdens of a similar nature applicable thereto, but excluding the Reserved Override.

Existing Burdens means, for any period, the aggregate amounts payable in respect of mineral owner royalty interests as a result of production of Hydrocarbons from the Subject Interests.

Existing Burdens means all landowner royalties, overriding royalties and other burdens existing of record on the effective date hereof and burdening the Current Leasehold, or existing prior to, or created as a condition to the Parties’ acquisition of Additional Leasehold. Existing Burdens also include existing overrides of the Assignors on the Current Leasehold whether of record or not of record.

Existing Burdens means all royalties, overriding royalties, production payments, net profits payments, and other payments out of or measured by production that are existing and of record as of the Effective Time, to the extent such payments are payable out of