Examples of Lease bonus in a sentence
Lease bonus payment(s) is the unamortized portion of a cash bonus that will not be refunded to the Insured due to the cancellation of the Insured’s lease.A cash bonus is money paid by the Insured to acquire the lease.
Within five (5) business days of Stone’s execution of this Participation Agreement, Stone agrees to pay MEI $352,736.00 and LLOG $352,736.00, which represents ten percent (10%) of the Lease bonus, rental and geological and geophysical costs incurred by MEI and LLOG prior to the Effective Date.
Lease bonus and other income The Partnership also earns revenue from lease bonuses, delay rentals, and right-of-way payments.
Such notice shall contain (a) a statement that Empire is exercising the Lease Option, (b) a legal description of the Option Lands to be leased in connection with such exercise and (c) the appropriate Lease bonus payment calculated in accordance with Section 6 below along with (d) the applicable Lease to be executed by the appropriate parties.
Any award for taking or damaging of all or any part of the Property under the power of eminent domain, any payment made under the threat of the exercise of such power, and any Condemnation award or payment, including but not limited to any payment for Lease bonus value, compensation for reduction in the value of the leasehold, and the taking of the fee or otherwise, shall be distributed and paid solely to Landlord.
PETRON further agrees to PARTICIPANT's desire to pay a fixed figure on a "turnkey" basis with PETRON to have all other responsibilities involved in the securing of the Oil and Gas Mineral Leases, including but not limited to the payment of Lease bonus payments, xxxxxxx cost, legal and PETRON agrees to defend said title to all lands and leases acquired in attached Exhibit “A”, by creditor or creditors claim arising by, through or under PETRON.
Lease bonus and other income Given that the Partnership does not recognize lease bonus or other income until an agreement has been executed, at which point its performance obligation has been satisfied, the Partnership does not record revenue for unsatisfied or partially unsatisfied performance obligations as of the end of the reporting period.
Lease bonus payments paid to the property owner along with legal expenses, title search, broker commission and recording costs are also categorized as acquisition costs.
Tenant shall be entitled to ------------------------------ receive any damages awarded by the court in connection with a Condemnation for (i) the Lease bonus value (the difference between the Lease rent and fair market value rent), (ii) Leasehold Improvements installed in the Premises at Tenant's expense, (iii) Tenant's moving costs, (iv) Trade Fixtures, and (v) Tenant's lost goodwill.
Lease bonus revenue Lease bonus revenue is generated by leasing the mineral interests in the Properties to exploration and production companies and is recorded when the lease agreement has been executed, payment has been received, and there is no longer an obligation to refund the payment.