Offshore Properties definition

Offshore Properties means all those oil and gas properties acquired by Delta pursuant to the Offshore Agreement at any time without reduction for any interests therein which Delta may, after receipt, assign. New Mexico Properties means all those oil and gas properties acquired by Delta pursuant to the New Mexico Agreement at any time without reduction for any interest therein which Delta may, after receipt assign. Any Offshore Property or New Mexico Property assigned by Delta shall remain subject to the lien of the Mortgage.
Sample 1
Offshore Properties means those Properties located in the Outer Continental Shelf - Gulf of Mexico Region.
Sample 1

Examples of Offshore Properties in a sentence

  • Subject to approval by Xxxxxx-Xxxxxxx (which shall be unreasonably withheld, delayed or denied), Xxxxxx- Xxxxxxx shall release the lien of the Mortgage to the extent of any fractional undivided interest in any Offshore Property Delta is required to assign in an arms length transaction in order to obtain access to Point Arguella Unit offshore drilling platform(s) for the drilling of xxxxx on the Offshore Properties.

  • In the event Delta prepays the Note after June 1, 2001 and on or before June 1, 2002, Delta shall assign to Xxxxxx-Xxxxxxx an ORRI equal to two and one-half percent (2.5%) of all of the Offshore Properties in addition to the ORRI assigned pursuant to the preceding subparagraph (the "Additional ORRI").

  • No costs of acquisition of the Offshore Properties or the New Mexico Properties shall be deducted in determining Net Cash Flow.

  • Partner is duly qualified by the MMS to hold leasehold interests in the Offshore Properties.

  • In the event Delta prepays the Note after September 1, 2000 and on or before June 1, 2001, Delta shall assign to Xxxxxx- Xxxxxxx an oil and gas overriding royalty interest ("ORRI") equal to two and one-half percent (2.5%) of the all of the oil and gas properties acquired by Delta pursuant to the Offshore Agreement (the "Offshore Properties") including those described in Exhibit A to the Offshore Agreement.

  • If Delta has not received commercially marketable title to any of the Offshore Properties or New Mexico Properties, Delta shall from and after the Agreement Date use its best efforts to obtain commercially marketable title and, upon receipt of such title, shall execute and deliver such documents as Xxxxxx-Xxxxxxx may reasonably require in order that the Mortgage shall constitute a first lien of record thereon, subject only to such encumbrances as are described in the Mortgage.

  • Offshore Properties means all those oil and gas properties acquired by Delta pursuant to the Offshore Agreement at any time without reduction for any interests therein which Delta may, after receipt, assign.

  • The Parties stipulate that it shall not be necessary for Zenergy Offshore Operating Company, LLC to own an interest in the leasehold to serve as operator of the Prospect, but in the event, and at such time as Zenergy Offshore Properties, LLC sells, transfers, or conveys its leasehold interest to a third party, Zenergy Offshore Operating Company, LLC shall be deemed to have resigned.

  • Further, the Parties stipulate and agree that upon qualification of Zenergy Offshore Properties, LLC (a Delaware limited liability company) with the MMS, that Zenergy, Inc.

  • In addition to the foregoing promptly after the qualifications of the Partnership to hold interests in the Offshore Properties are approved by the MMS, the Partner and the Partnership will execute an assignments of operating rights and an assignment of right of way covering the Offshore Properties on forms that comply with the applicable rules of the MMS and submit the same to the MMS for approval.

Related to Offshore Properties

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Other Properties shall have the meaning set forth in Section 9.1.

  • Real Estate means all Leases and all land, together with the buildings, structures, parking areas, and other improvements thereon, now or hereafter owned by any Loan Party, including all easements, rights-of-way, and similar rights relating thereto and all leases, tenancies, and occupancies thereof.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and the sale of homes and related real estate activities, including the provision of mortgage financing or title insurance.

  • Residential property means improved property that:-

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Industrial Property – means property used for construction, repair, trade or manufacturing, production, assembly or processing of finished or partially finished products from raw materials or fabricated parts on such a large scale that capital and labour are significantly involved, and includes any office or other accommodation on the same property, the use of which is incidental to such activity;

  • Additional Properties means any oil and natural gas assets or related interests that are acquired by any member of the Partnership Group pursuant to an Acquisition.

  • Material Properties means (a) those Mortgaged Properties designated on Schedule 3.12 as Material Properties and (b) each other Mortgaged Property with respect to which a Mortgage is granted pursuant to Section 5.11 after the Restatement Effective Date.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Oil and Gas Properties means (a) Hydrocarbon Interests; (b) the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; (c) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (d) all operating agreements, contracts and other agreements, including production sharing contracts and agreements, which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; (e) all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; (f) all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (g) all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment, rental equipment or other personal Property which may be on such premises for the purpose of drilling a well or for other similar temporary uses) and including any and all oil xxxxx, gas xxxxx, injection xxxxx or other xxxxx, buildings, structures, fuel separators, liquid extraction plants, plant compressors, pumps, pumping units, field gathering systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters, apparatus, equipment, appliances, tools, implements, cables, wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • 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.

  • Real Estate-Related Securities shall have the meaning set forth in the Charter.

  • Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Mining Property means a property used for mining operations as defined in the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002);

  • Unimproved Real Property means Property in which the Company has an equity interest that was not acquired for the purpose of producing rental or other operating income, that has no development or construction in process and for which no development or construction is planned, in good faith, to commence within one (1) year.

  • Properties as defined in Section 4.17(a).

  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the Act, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • Leaseholds of any Person shall mean all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.