Land Costs definition
Examples of Land Costs in a sentence
The Sunk Land Costs for the Lease are $250,000 to acquire the Redacted Lease, $28,800 in rentals, $30,000 for a license on the Shallow Hazard Data and $200,000 for G&G costs.
The Sunk Land Costs are set forth on Exhibit "B" attached hereto.
Within three (3) business days from receipt of the Sunk Land Costs, LLOG shall execute and deliver to Ridgewood an Assignment of Record Title Interest delivering to Ridgewood a 50% of 6/6ths Record Title Interest in the Redacted Lease.
Within fifteen (15) days of execution of each Prospect's applicable AFE, Ridgewood shall reimburse LLOG for its 50% share of the applicable Prospect's "Sunk Land Costs".
Notwithstanding anything contained herein to the contrary, should LLOG not spud the ITW prior to the expiration of the SOO (or any extensions thereof), all commitments and obligations will herein will cease and Ridgewood will reassign all of its interest to LLOG and LLOG will refund to Ridgewood all Sunk Land Costs previously paid by Ridgewood to LLOG.