Examples of Mutual Interest Lands in a sentence
If the Mutual Interest Lands acquired by the acquiring Party are not acquired at a Crown sale and are acquired subject to an overriding royalty, production payment or other charge of a similar nature, the acquiring Party must disclose that encumbrance in the notice of acquisition that it gives to the other Parties under this Article.
Subject to Article 8.00, the Parties will have the right to participate in an acquisition of Mutual Interest Lands in the following percentages: Farmor-50% Farmee-50%.
While answer briefs should ordinarily follow the same outline as the initial brief, it seems most appropriate that the certified question be dealt with first.
If the consideration for the acquisition of Mutual Interest Lands is the drilling of a well or the conduct of certain operations, a Party that elects to acquire a portion of the acquiring Party's interest or rights in that acquisition will be required to assume a corresponding share of the cost, risk and expense of the applicable operations.
The following Schedules are attached hereto and are incorporated into this Agreement: Schedule "A" which sets forth the Farmout Lands, the Title Documents, the Pre-Farmout Working Interest and the Encumbrances; Schedule "B" which sets forth the rates, elections and modifications to the Farmout & Royalty Procedure; Schedule "C" which sets forth the Mutual Interest Lands; Schedule "D" which sets forth Fannor's well data requirement sheet as referred to in Article 9.00 of the Farmout & Royalty Procedure.