Farmout and Royalty Procedure definition

Farmout and Royalty Procedure means the 1997 CAPL Farmout and Royalty Procedure with insertions as set forth in Schedule “B”;
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Farmout and Royalty Procedure means the form of the 1997 CAPL Farmout and Royalty Procedure completed as to the schedule of elections, rates and modifications thereunder which is attached hereto as Schedule “B”
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Farmout and Royalty Procedure means the 1997 CAPL Farmout and Royalty Procedure incorporating the elections and revisions hereto which are set forth in Schedule “B” attached hereto and made a part of this Agreement;
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Examples of Farmout and Royalty Procedure in a sentence

  • It offers a rather context-specific analysis of the interaction between the Canadian Association of Petroleum Landmen Farmout and Royalty Procedure (the CAPL Procedure), the parties’ Farmin Agreement, and a subsequent amending agreement.

  • Page 3 The Area of Mutual Interest (“AMI”) shall form a 1-mile perimeter around the Farmout Lands, as more particularly illustrated in Schedule “D”, and provisions of Article 8.00 of the Farmout and Royalty Procedure shall prevail relative to any acquisition of AMI lands.

  • By fulfilling the requirements enumerated in Clause 3 of this Agreement, and subject to the provisions of Clause 3.03 of the Farmout and Royalty Procedure, Farmee will earn an undivided 50% of Farmor’s Interest in the Farmout Lands.

Related to Farmout and Royalty Procedure

  • Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

  • Royalty Agreement means the amended royalty agreement between the Partnership, Vermilion, 1209963 Alberta Ltd. and the Trust dated January 22, 2003 providing for the creation of the Royalty;

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Third Party Royalties means any royalties or license fees owing to a Third Party attributable to the manufacture, use or sale of Products and in consideration of a license under any patent which such Product would otherwise infringe.

  • Royalty Report shall have the meaning set forth in Section 7.1.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Mineral Products means the commercial end products derived from operating the Property as a mine:

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • Mining Xxx 0000 means (unless the context otherwise requires) the Mining Xxx 0000 and the amendments thereto and the regulations made thereunder as in force on 31st December, 1981;

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Development Report means a written account of Licensee’s progress under the Development Plan having at least the information specified on Appendix B to this Agreement, and shall be sent to the address specified on Appendix B.

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Single-state license means a nurse license issued by a party state that authorizes practice only within the issuing state and does not include a multistate licensure privilege to practice in any other party state.

  • JOA means the joint operating agreement currently in force in respect of operations pursuant to a Licence and identified as such in Schedule 1;

  • Mining Plan means a mining plan drawn in accordance with clause (b) of sub-section

  • petroleum agreement means an agreement for the purpose of petroleum activities entered into by Government and another person in accordance with this Act;

  • Net Smelter Returns means the gross proceeds received by the Purchaser in any year from the sale of Product from the mining operation on the Property, less:

  • Royalties means all royalties, fees, expense reimbursement and other amounts payable by a Loan Party under a License.

  • License Type means the identification of whether the license for a Software Product is for a Perpetual Term or Subscription Term as specified in the Quote.

  • Generation Interconnection Feasibility Study means a study conducted by the Transmission Provider (in coordination with the affected Transmission Owner(s)) in accordance with Tariff, Part IV, section 36.2.

  • Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

  • Oil and Gas Leases means all leases, subleases, licenses or other occupancy or similar agreements under which a Person leases, subleases or licenses or otherwise acquires or obtains operating rights in and to Hydrocarbons or any other real property which is material to the operation of such Person’s business.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Project area plan means a written plan that, after the plan's effective date, guides and controls the development within a project area.