Lease Burden definition

Lease Burden means any royalty, overriding royalty interest, net profits interest, production payment, carried interest, reversionary working interest or other charges upon a leasehold interest or the production therefrom.
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Lease Burden means any production sale contract, lien, encumbrance, royalty, overriding royalty interest, net profits interest, production payment, carried interest, reversionary working interest or other charge upon a leasehold interest or the production therefrom.
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Lease Burden means any royalty, overriding royalty interest, net profits interest, production payment, carried interest, reversionary working interest, right to participate or other charge upon a leasehold interest or the production therefrom, but only to the extent, in each case, any of the forgoing is (a) granted or imposed by a Third Party to another Third Party or (b) granted or imposed by a Party to any Third Party as required to make such grant pursuant to the terms of the existing agreements and contracts described on Exhibit “H” attached hereto.
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Examples of Lease Burden in a sentence

  • If the Party owning the Working Interest from which a Lease Burden is created (a) fails to pay when due its share of Costs, (b) withdraws from this Agreement, or (c) Elects to abandon a well under Article 18.1 (Abandonment of ▇▇▇▇▇), then the beneficiary of the Lease Burden will be chargeable with Costs equal to its fractional interest in gross production and the security rights created in Exhibit “F” will be applicable against that Lease Burden.

  • Notwithstanding any contrary provision of this Agreement, if a Party, after executing this Agreement, creates a Lease Burden, that Lease Burden shall be made specifically subject to this Agreement.

  • The Operator has the right to enforce the security rights (and all other rights granted under this Agreement) against the beneficiary of a Lease Burden for the purpose of collecting Costs chargeable to the Lease Burden.

  • The Party creating the Lease Burden shall indemnify, release, defend, and hold all other Parties harmless from all claims and demands for payment asserted by the owners of the Lease Burden.

  • Upon termination or other removal of a Lease Burden which is an encumbrance upon a Committed Working Interest, the net acreage of such Committed Working Interest and the Beneficial Interests of all Parties shall be revised, but Unit Operation shall not be required to recognize the change in Beneficial Interests resulting from such revision until the first day of the month next succeeding the termination or other removal of such Lease Burden.

  • The Companies have not received written notice of any Claim that the pay lists pursuant to which the Companies are making Lease Burden disbursements with respect to the ▇▇▇▇▇ and Subject Units are inaccurate.

  • Except as may otherwise be provided in the Gas Balancing Agreement attached as Exhibit 6, Unit Operator shall make all Lease Burden payments on all Production as set forth in this Section 6.8. Any net profits, carried or any other interest shall be paid by the Party from whom the payment is due according to the terms of the grantor reservation of the interest.


More Definitions of Lease Burden

Lease Burden means any production sale contract, lien, encumbrance, royalty, overriding royalty interest, net profits interest, production payment, carried interest, reversionary working interest or other charge upon a leasehold interest or the production therefrom. 1.8 "Net Mineral Acres" are calculated by multiplying the undivided interest in the minerals covered by a Lease or Seismic Option times the number of gross acres covered by such Lease or Seismic Option times a Party's undivided interest in such Lease or Seismic Option. 1.9 "Party" means either Parallel, ▇▇▇-▇▇▇, TAC, Allegro, Beta, ▇▇▇▇▇, ▇▇▇▇▇ or Four-Way or any other person or entity which hereafter becomes a party hereto or is otherwise subject to the terms hereof.
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Related to Lease Burden

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • Condominium project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • Easement Area means the area which is hatched on the plan.

  • Production Burdens means any royalties (including lessor’s royalties), overriding royalties, production payments, net profit interests or other burdens upon, measured by or payable out of oil, gas or mineral production.

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.