Interest owner definition

Interest owner means a person owning an entire or fractional interest of any kind or nature in oil or gas production at the time of severance, or a person who has an express, implied or constructive right to receive a monetary payment determined by the value of oil or gas production or by the amount of production.

Interest owner means a person owning an entire or fractional interest of any kind or nature in the oil or gas at the time it is severed, or a person who has a right, either express or implied, to receive a monetary payment determined by the value of the oil or gas severed.

Interest owner means a person owning an interest (working interest, royalty interest, payment out of production, or any other interest) in oil or gas, or in the proceeds thereof.

Examples of Interest owner in a sentence

• In the event the member of the Manager is no longer a Member in the Company, and no other individual has been appointed as the Partnership Representative, the Partnership Representative shall be the Majority Interest owner from amongst the Members.

• In the event the Manager is no longer a Member in the Company, the tax matters member shall be the Majority Interest owner from amongst the Class B Members.

• An Overriding Interest is similar to a Royalty Interest in that the Overriding Interest owner assumes none of the risk of the Producer.

• After such reversion, the Non-Consent Interest owner will have no more ownership rights with respect to the reverted interest.

• Each Company shall participate as a leasehold cost-bearing Working Interest owner with all of its right, title and interest under each such proposal unless Seller requests, and Buyer consents in writing to, any non-consent election pursuant to Section 6.22.

More Definitions of Interest owner

Interest owner means a person owning an interest of any

Interest owner means a person:

Interest owner means a person owning an entire or fractional interest of whatsoever kind or nature in the products at the time of severance from a production unit or who has a right to a monetary payment that is determined by the value of such products;

Interest owner means the owner of an Economic Interest or a Membership Interest.

Interest owner means the interest holder who holds an interest or the group of interest holders who hold all of the shares in an interest;

Interest owner. Percentage Interest: Tax ID Number:

Interest owner means a person owning an entire or fractional interest of any kind