Examples of Federal Leases in a sentence
Ownership of Federal Leases --------------------------- Federal law prohibits, with certain limited exceptions, the holding of interests in federal oil and natural gas leases by (i) persons who are not citizens or nationals of the United States and (ii) entities that are owned or controlled by non-United States nationals.
The obligations set forth in this Section shall survive any termination or rescission of this Agreement, the Operative Documents, the Federal Leases, the Pass Through Trust Agreement, the Operating Agreement and the Unit Agreement, as the case may be.
True, correct and complete copies of the Federal Leases, the Operating Agreement, the Unit Agreement, the Release, the Waiver and Consent Agreement and the Quit Claim and Release Agreement (the "Garden Banks Documents") have been delivered to the Owner Participant.
Each of the parties hereto agrees that all matters relating to this Agreement, the other Operative Documents, the Federal Leases, the Pass Through Trust Agreement, the Placement Agreement, the Operating Agreement and the Unit Agreement and the transactions contemplated hereby shall be kept strictly confidential, including, without limitation, the substance of its commercial terms, and any disclosure of such matters shall be made only with the prior written consent of the other parties hereto.
In addition, nothing in the Plan addresses or shall otherwise affect any plugging and abandonment obligations and financial assurance requirements under the Federal Lease(s), as determined by the Department of the Interior of the United States pursuant to applicable non-bankruptcy law, that must be met by the Debtors or their respective successors and assigns (including the Reorganized Debtors) on the Federal Lease(s) on and after the Effective Date.
For the avoidance of doubt and without limiting the foregoing, any assignment and/or transfer of any interests in the Federal Leases will be ineffective absent the consent of the United States.
Notwithstanding any provision to the contrary in the Plan Documents, the United States will retain and have the right to audit and/or perform any compliance review and, if appropriate, collect from the Debtors and/or their successor(s) and assign(s) in full any additional monies owed by the Debtors with respect to any assumed Federal Leases without those rights being adversely affected by these bankruptcy proceedings.
Moreover, nothing in the Plan or Plan Supplement shall be interpreted to release the Debtors from any reclamation, plugging and abandonment, or other operational requirement under applicable federal law; to address or otherwise affect any decommissioning obligations and financial assurance requirements under the Federal Leases, that must be met by the Debtors or their successors and assigns on the Federal Leases going forward; or to impair audit rights of the federal government.
Notwithstanding anything to the contrary in the Confirmation Documents or in any Cure Notices contemplated by the Confirmation Documents, nothing in the Confirmation Documents shall be interpreted to set cure amounts for the Federal Leases and any amounts owing under the Federal Leases shall be promptly paid when due in the ordinary course subject to applicable non-bankruptcy laws, regulations and administrative procedures.
Assignor, as successor in interest to Rosebud Coal Sales Company, is the owner of a ten and three-quarters percent (10.75%) of twelve and one half percent (12.5%) overriding royalty interest in coal produced from those lands included in Federal Leases MTM-069782 and MTM-110692 prior to May 1, 1970; WHEREAS, Assignor and Assignee entered into that certain Letter Agreement for the Purchase and Sale of Overriding Royalty Interest in Federal Coal Lease MTM-069782 and MTM-1 10692 executed as of, 2021.