Examples of Mutual Interest Lands in a sentence
It is a corporation duly organized and validly existing under the laws of the Province of Alberta, authorized to carry on business in all jurisdictions in which the Mutual Interest Lands are located, and each now has all the requisite power and authority to enter into this Agreement.
Subject to the limitation in Subsection 6.8(c), the Parties that acquire an interest in those Mutual Interest Lands will assume a corresponding share of that disclosed encumbrance or a valid encumbrance that the Initiating Party did not discover despite a reasonable diligence review.
The confidentiality provisions of the Joint Operating Agreement or the Existing JOA, as applicable, shall apply on the basis set forth therein to information obtained as a consequence of Operations conducted with respect to the applicable Mutual Interest Lands thereunder or otherwise with respect to those Mutual Interest Lands thereunder.
This Subsection applies if the Mutual Interest Lands acquired by the Initiating Party are not acquired by it (or on its behalf) at a Crown sale contemplated in Section 6.3 and they are acquired subject to a bona fide arm’s length royalty, overriding royalty, production payment, net profits interest or other charge of a similar nature in addition to the royalty payable to the grantor under the applicable Title Document.
Insofar as a Party did not receive information to which it was entitled under the applicable Joint Operating Agreement or Existing JOA and that information: (i) was material to the evaluation of the applicable Mutual Interest Lands; and (ii) was then in the possession of the Operator (or other applicable Party conducting the particular Operation), Section 6.4 shall apply, mutatis mutandis, following receipt of that information with respect to any such acquisition of Mutual Interest Lands.