Lease Acquisition Costs means, when used to describe the costs of any Lease, the sum of (a) all monetary consideration paid or given for such Lease to a non-Affiliate of the Managing Partner, including but not limited to lease bonuses and advance rentals paid to a non-Affiliate of the Managing Partner, (b) all costs of lease acquisition and title examination, including but not limited to curing or defending title, title insurance or examination costs, brokerage commissions, the fees and wages of landmen and lease brokers and their expenses, filing fees, recording costs, transfer taxes, and like charges paid in connection with the acquisition of such Lease, (c) all delay rentals and other similar payments and ad valorem taxes paid with respect to such Lease, (d) such portion as may be allocated to such Lease in accordance with industry standards of all reasonable, necessary, and actual costs and expenses of MD or its Affiliates for geological, geophysical, seismic, land, engineering, drafting, accounting, legal, and other like services together with related administrative and general overhead costs involved in lease acquisition and Prospect evaluation including such costs and expenses which could otherwise be classified hereunder as Administrative Costs, (e) such portion as may be allocated to such Lease in accordance with industry standards of all costs and expenses incurred in the acquisition of farmouts, subleases, pooling orders, or other oil and gas interests, (f) interest and points actually incurred on funds borrowed to pay any of the costs and expenses described in clauses (a) through (e) above calculated from the date of their incurrence until the date of their reimbursement by the Drilling Program at the time a Lease is acquired by the Drilling Program, and (g) with respect to Leases held on the date hereof by or acquired thereafter by MD or an Affiliate thereof, in which an interest is transferred to the Participants pursuant to the Program Agreement, the costs of such transfer; provided that the expenses described in clauses (c), (d), (e), and (f) shall have been incurred by MOC or its Affiliates not more than 36 months prior to the acquisition by the Drilling Program of such Lease; and provided further, that such time limitation shall not be applicable to Leases having a primary term of five or more years. Lease Acquisition Costs of a Lease shall not include any costs or expenses otherwise allocable herein to such Lease and which represent costs or expenses incurred i...
Lease Acquisition Costs means all direct costs and expenses incurred by a party in connection with the acquisition of a Lease, including, without limitation, bonus consideration, paid-up delay rentals, lease broker fees and expenses, legal fees, recording fees, the cost of obtaining title curative material and related expenses.
Lease Acquisition Costs means all direct costs paid or payable to third parties incurred in acquiring an Acquired Interest (excluding Well Costs) including, by way of illustration, cash bonus consideration (including bonuses paid for interests acquired by compulsory pooling), broker’s fees, recording fees, title examination expense, legal expense, title curative costs, geological, geophysical, seismic, land, engineering, drafting and other like costs incurred and paid or payable to third parties in connection with an Acquired Interest.
Examples of Lease Acquisition Costs in a sentence
The price to be paid by the Participants with respect to their acquisition of an interest in a Lease pursuant to this Section 2 shall be an amount equal to the Participants’ respective shares, as set forth in Section 3(a) of either (i) the Lease Acquisition Costs with respect to such Lease or (ii) as provided in Section 5.10(h) of the Partnership Agreement, the fair market value of such Lease.
Lease Acquisition Costs may include costs incurred to evaluate a property which is not acquired.
Lease Acquisition Costs and Abandonment Lease acquisition costs, together with the related cost depletion deduction and any abandonment loss for Lease costs, are allocated under the Partnership Agreement 100% to the Managing General Partner, which will contribute the Leases to each Partnership as a part of its Capital Contribution.
Lease Acquisition Costs Lease acquisition costs represent the costs incurred to obtain the Company's building lease.
It is provided, however, that Petrosearch shall have only ten (10) working days from Petrosearch's receipt of the lease acquisition proposal to pay its share of the Lease Acquisition Costs for each Lease acquired pursuant to the terms of this Agreement rather than the time limit provided in the E&P Agreement.
More Definitions of Lease Acquisition Costs
Lease Acquisition Costs means all direct costs incurred in acquiring Leases (excluding Well Costs) including by way of illustration, but not limited to, cash bonus consideration (including bonuses paid for interests acquired by compulsory pooling), brokers' fees and expenses, recording fees, title examination expense, legal expenses, and title curative costs incurred in connection with acquisition of a Lease.
Lease Acquisition Costs means, with respect to any Lease, the sum of (i) all direct out of pocket consideration paid to lease brokers, landmen, geologists and engineers in connection with the acquisition of such Lease, including without limitation, any incentive overriding royalty interests or participations assigned to lease brokers, landmen, geologists and engineers, and (ii) all direct out of pocket costs incurred in the acquisition of such Lease, including purchase prices, bonuses, delay rentals (if such Lease is not a paid up Lease), filing fees, and title curative costs; provided, however, “Lease Acquisition Costs” shall in no event include any amounts owed or paid to any Party hereto or any Affiliate of any Party hereto.
Lease Acquisition Costs means (a) the price paid or contractually agreed to be paid for a Lease to the lessor, assignor or grantor of such Lease, including consideration paid to an assignor, lease bonuses, advance rentals and other acquisition costs, (b) costs and expenses paid to third parties in connection therewith, including title opinions. insurance and examination costs and attorney's fees and (c) broker commissions, filing fees, recording costs. transfer and sales taxes. and other similar costs incurred by the Venture with respect to such Lease in connection with its acquisition.
Lease Acquisition Costs means (i) in the case of a new lease entered into with the lessor, lease bonuses, third-party xxxxxxx fees, third-party broker costs and other reasonable and customary third-party costs and expenses incurred to acquire oil, gas and other hydrocarbon properties and interests, including leases and options, and (ii) in the case of an existing lease acquired from a party other than the lessor, the purchase price for such lease. Such costs shall not include any allocation of overhead or general and administrative expenses.
Lease Acquisition Costs means all (a) direct costs paid or payable to lessors or sellers incurred in acquiring AMI Acreage including cash bonus consideration (including bonuses paid for interests acquired by compulsory pooling, communitization or unitization) and (b) broker’s fees, recording fees, title examination expense, legal expense, title curative costs, land costs, drafting and other costs reasonably incurred and paid or payable to third parties in connection with AMI Acreage.
Lease Acquisition Costs shall be defined as the Offering Party’s lease bonus payment, cash consideration paid, out-of-pocket lease brokerage costs, title research and review costs, and attorney’s fees. The Offering Party may require the execution of a commercially reasonable confidentiality agreement as a condition to presenting any such leasehold interest to the Acquiring Party. Such AMI Interest shall be bound and subject to the JOA attached hereto as Exhibit “D”.
Lease Acquisition Costs shall have the meaning ascribed to it in the Partnership Agreement.