Net Acre means, as computed separately with respect to each Lease, (a) the number of gross acres in the lands covered by such Lease, multiplied by (b) the undivided percentage interest in oil, gas and other minerals covered by such Lease in such lands, multiplied by (c) the Seller’s Working Interest in such Lease, provided that if items (b) and/or (c) vary as to different areas of such lands (including depths) covered by such Lease, a separate calculation shall be done for each such area as if it were a separate Lease.
Net Acre means as computed separately for each oil and gas lease, (a) the number of gross acres in the lands covered by the lease, multiplied by (b) the undivided percentage of mineral ownership covered by the lease, multiplied by (c) Producer’s working interest in such lease, provided that if items (b) and/or (c) vary as to different areas or depths, a separate calculation shall be done for each such area or depth.
Examples of Net Acre in a sentence
For purposes of example only, if City adopts a Citywide Master Plan Fee Program that imposes industrial fees in the amount of $178,000 per Net Acre, then for purposes of determining the Master Plan Fee Obligation, said amount would be reduced to $149,405 per Net Acre to reflect the estimated value of said land dedications.
It is anticipated that industrial fees will not exceed One Hundred Seventy Eight Thousand Dollars ($178,000) per Net Acre; provided, however, if City adopts the Citywide Master Plan Fee Program with industrial fees that exceed this amount, then Prologis shall have the right, in its sole discretion, to terminate this Agreement upon ten (10) days notice to City.
The purchase price for the Assets shall be $609,200 (the "Purchase Price"), which represents a purchase price of $230.71 per Net Acre (the "Per Acre Price") for the 2,640.6 aggregate Net Acres covered by the Leases as set forth in Exhibit A.
More Definitions of Net Acre
Net Acre means (i) each Seller’s undivided interest in the leasehold estate created by the applicable Lease, multiplied by (ii) the number of acres covered by the Lease multiplied by (iii) the lessor’s percentage interest in the oil and gas mineral fee estate in the land covered by the Lease. “Allocated Value” with respect to a Lease shall mean an amount equal to the Per Acre Price multiplied by the number of Net Acres set forth in Exhibit A for such Lease.
Net Acre means an area measuring 43.560 square feet which excludes:
Net Acre means, as calculated separately with respect to each Lease described in Exhibit A-1 and listed in Part II of Schedule 2.2, (a) the number of gross acres in the lands covered by such Lease, multiplied by (b) the lessor’s undivided percentage interest in oil, gas or other minerals covered by such Lease in such lands, multiplied by (c) Seller’s Working Interest in such Lease; provided, that if items (b) and/or (c) vary as to different areas of such lands covered by such Lease, a separate calculation in accordance herewith shall be performed for each such area as if it were a separate Lease.
Net Acre means an acre of the developable portion of the site, which is derived from the total (gross) acreage of the site minus the area required to be, or voluntarily, set aside, as critical and envi- ronmentally sensitive lands and the corresponding buffers, public rights-of-way, road easements and any similar public facilities.
Net Acre means, as calculated separately with respect to each Lease identified on Exhibit A-1 as to the Target Interval (except as otherwise expressly set forth on Exhibit A-1 with respect to such Lease), (i) the number of gross acres of land covered by such Lease, multiplied by (ii) the lessor’s undivided interest in the Hydrocarbons in the lands covered by such Lease, multiplied by (iii) Seller’s Working Interest in such Lease; provided, however, if items (ii) and (iii) vary as to different areas of the lands covered by such Lease, a separate calculation shall be performed with respect to each such area.
Net Acre means an area measuring forty-three thousand five hundred sixty (43,560) square feet, which excludes:
Net Acre means, as computed separately with respect to each Lease, (a) the number of gross acres in the lands covered by such Lease, multiplied by (b) the undivided percentage interest in oil, gas and other minerals covered by such Lease in such lands, multiplied by (c) the Company’s aggregate Working Interest or undivided interest in such Lease. Notwithstanding the foregoing sentence, if items (b) and/or (c) vary as to different areas, tracts or parcels of such lands (including depths) covered by such Lease, a separate calculation shall be done for each such area as if it were a separate Lease.