Lease Burden definition

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.
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.

Examples of Lease Burden in a sentence

  • 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.

  • 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 Xxxxx), 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 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.

  • Subsequently Created Lease Burdens 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 rights of the beneficiary of a Lease Burden are subordinate to the rights of the Parties granted by Exhibit “F.” Payment of Rentals and Royalties The Operator shall make all rental payments for the Leases on behalf of the Parties.


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, Xxx-Xxx, TAC, Allegro, Beta, Xxxxx, Xxxxx or Four-Way or any other person or entity which hereafter becomes a party hereto or is otherwise subject to the terms hereof.

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 of the servient lot marked on the survey-strata plan as being subject to the relevant easement; and

  • Production Burdens means any royalties (including lessor’s royalties), overriding royalties, production payments, net profit interests or other similar interests that constitute a burden on, and are measured by or are payable out of, the production of Hydrocarbons or the proceeds realized from the sale or other disposition thereof (including any amounts payable to publicly traded royalty trusts), but excluding Taxes and assessments of Governmental Entities.

  • 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.

  • Parking Facilities means parking lots or other off-street areas for the parking of vehicles, including areas below or above the surface of streets.

  • Generating Facilities means Interconnection Customer’s device for the production and/or storage for later injection of electricity identified in the Interconnection Request, but shall not include the Interconnection Customer’s Interconnection Facilities. Generation Interconnection Customer:

  • Concession Area means particulars of the area as more particularly described in Form A of West Bengal Minor Minerals (Auction) Rules, 2016.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Wastewater facilities means the structures, equipment, and processes required to collect, carry away, and treat domestic and industrial wastes and dispose of the effluent.

  • Base Building shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as Exhibit E and such other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the performance of Alterations (defined in Section 9).

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • New Facilities means facilities for which, by the cut-off date, neither of the following events has occurred:

  • Generating Facility means the Generating Unit(s) comprising Seller’s power plant, as more particularly described in Section 1.02 and Exhibit B, including all other materials, equipment, systems, structures, features and improvements necessary to produce electric energy and thermal energy, excluding the Site, land rights and interests in land.

  • Underground area means an underground room, such as a basement, cellar, shaft or vault, providing enough space for physical inspection of the exterior of the tank situated on or above the surface of the floor.

  • Franchise Area means the present legal boundaries of the City as of the Effective Date, and shall also include any additions thereto, by annexation or other legal means as provided in this Agreement.

  • Lease Area means the Lease Area as more particularly described in SCHEDULE C.

  • Common Areas and Facilities means collectively the Development Common Areas and Facilities and the Residential Common Areas and Facilities and all those parts and such of the facilities of the Development designated as common areas and facilities in any Sub-Deed;

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Project Area means THE AREA WHERE WORK IS BEING PERFORMED FOR THE CITY OF SUFFOLK, VIRGINIA.

  • Built-Up Area and/or “Covered Area” in relation to a Flat shall mean the floor area of that Flat including the area of balconies and terraces, if any attached thereto, and also the thickness of the walls (external or internal) and the columns and pillars therein Provided That if any wall, column or pillar be common between two Flats, then one-half of the area under such wall column or pillar shall be included in the built-up area of each such Flat.

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by Company or any Company Subsidiary, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the lease for such Leased Real Property.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • mixed-use building means a building or structure containing a residential and non- residential use other than a home occupation;

  • Excavation work means the making of any man-made cavity, trench, pit or depression formed by cutting, digging or scooping;