Pennsylvania Leases definition

Pennsylvania Leases means each and every oil and gas lease that (a) covers a leasehold located in Pennsylvania, (b) contains a Market Enhancement Clause, and (c) is or has been owned, in whole or in part, by Chesapeake as a lessee, according to the business records maintained by Chesapeake.
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Pennsylvania Leases means each and every oil and gas lease that (a) covers a leasehold located in Pennsylvania, (b) contains a Market Enhancement Clause, and (c) is or has been owned, in whole or in part, by Chesapeake as a lessee, according to the business records maintained by Chesapeake. 55% of all Post-Production Costs reflected as deductions from Gas Royalty payments made by Chesapeake to Settlement Class Members under the Pennsylvania Leases prior to September 1, 2013, plus 27.5% of all Post-Production Costs reflected as deductions from Gas Royalty payments made by Chesapeake to Settlement Class Members under the Pennsylvania Leases from September 1, 2013, through the Effective Date of the Settlement.4 Class Counsel estimate Chesapeake’s total payment will be in excess of $7,500,000.00. The payment will be distributed among the Class Members on a pro-rata basis, net of Court-awarded attorneys’ fees and expenses and class representative incentive award payments, and in accordance with the Settlement Agreement’s Plan of Distribution. In addition, the Settlement sets forth a Future Royalty Calculation Method under which Settlement Class Members will no longer bear 100% of Post-Production Costs, but will, after the Effective Date, only bear 72.5% of those costs. Settlement Class Members will continue to bear 100%, on a pro rata basis, of the transportation costs that are incurred after gas has entered the interconnect point of a transmission pipeline.
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Examples of Pennsylvania Leases in a sentence

  • Plaintiffs contend, therefore, that the raw Gas produced by Chesapeake is not marketable at the well and that Chesapeake’s deductions for gathering, dehydration and compression are improper and in breach of the Pennsylvania Leases, i.e., the deductions are for activities that are necessary to transform the Gas into marketable form.

  • Plaintiffs and the Settlement Class Members hereby further agree that they fully and forever release and discharge all working interest owners on whose behalf Defendant has paid or will pay Royalties pursuant to Pennsylvania Leases from any and all of the Settled Claims, but do so only to the limited extent of Defendant’s payments of Gas Royalties on behalf of such working interest owners.

  • Therefore, the Parties agree that the Final Judgment shall specify that the following provisions apply to the Settlement Class Members’ Pennsylvania Leases beginning on the first day of the month after the Effective Date occurs and continuing so long thereafter as Chesapeake is paying Royalties to Settlement Class Members and their successors and assigns on Gas produced pursuant to the Pennsylvania Leases.

  • The Final Judgment shall not modify how any other entity calculates and/or pays Royalties pursuant to the Pennsylvania Leases.

  • Chesapeake shall not deduct any FLU Volumes as a Post-Production Cost for the Pennsylvania Leases but shall, instead, pay Gas Royalties on one hundred percent (100%) of the FLU Volumes, except as otherwise permitted by a Settlement Class Member’s Pennsylvania Lease.

  • Pennsylvania Leases does not include any lease Chesapeake Appalachia, L.L.C. owned in whole or in part as a lessee, but in which Chesapeake Appalachia, L.L.C. was not a lessee as of the date the Court preliminarily approved the Proposed Settlement and for which no Gas was produced during the time that Chesapeake Appalachia, L.L.C. was a lessee.

  • Within sixty (60) days of the Effective Date, for Non-MEC Lessors (that is, Pennsylvania Landowners with leases that do not include Market Enhancement Clauses or Ready for Sale or Use Clauses), Chesapeake shall provide Pennsylvania Landowners with Non-MEC Leases the opportunity to make a one- time election concerning how Chesapeake will calculate and pay Gas Royalties in the future pursuant to Pennsylvania Leases in which Chesapeake currently owns an interest.

  • The Settlement Class has been defined as all individuals and entities, including their predecessors and successors-in-interest, who are or have been lessor parties to one or more Pennsylvania Leases, to the extent of their interests in such Pennsylvania Leases.

  • In exchange for the consideration set forth in this Agreement, including but not limited to the Release set forth in paragraph 11, Chesapeake agrees that the Final Judgment shall modify how Chesapeake and/or its Affiliates calculate and pay Gas Royalties to the Settlement Class Members and their successors and assigns in the month after the Effective Date occurs pursuant to the Settlement Class Members’ Pennsylvania Leases.

  • In exchange for the consideration set forth in this Agreement, including but not limited to the Release set forth in paragraph 12, Chesapeake agrees that the Final Judgment shall modify how Chesapeake and/or its Affiliates calculate and pay Gas Royalties to the Settlement Class Members and their successors and assigns in the month after the Effective Date occurs pursuant to the Settlement Class Members’ Pennsylvania Leases.

Related to Pennsylvania Leases

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

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

  • AT&T SOUTH CAROLINA means the AT&T owned ILEC doing business in South Carolina.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.

  • Space Leases means any and all leases, subleases, lettings, licenses, concessions, operating agreements, management agreements, and all other agreements affecting the Trust Estate that Trustor has entered into, taken by assignment, taken subject to, or assumed, or has otherwise become bound by, now or in the future, that give any person the right to conduct its business on, or otherwise use, operate or occupy, all or any portion of the Site or Improvements and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Trust Estate to extract or remove natural resources of any kind, together with all amendments, extensions, and renewals of the foregoing entered into in compliance with this Deed of Trust, together with all rental, occupancy, service, maintenance or any other similar agreements pertaining to use or occupation of, or the rendering of services at the Site, the Improvements or any part thereof.

  • Community Charter means the Community Charter, S.B.C. 2003, c. 26, as may be amended or replaced from time to time;

  • COMMONWEALTH OF PENNSYLVANIA SS COUNTY OF PHILADELPHIA : The undersigned, being duly sworn, deposes and says that:

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Cemetery means 1 or a combination of more than 1 of the following:

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Real Property Leases means the leases, subleases, licenses or other agreements, including all amendments, extensions, renewals, guaranties or other agreements with respect thereto, under which the Company or any of its Subsidiaries uses or occupies or has the right to use or occupy any real property.

  • AT&T LOUISIANA means the AT&T owned ILEC doing business in Louisiana.

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

  • State of Texas Textravel means the State Travel Management Program through the Texas Comptroller of Public Accounts website and Texas Administrative Code, Title 34, Part 1, Chapter 5, Subchapter C, Section 5.22, relative to travel reimbursements under this Contract, if any.

  • Existing Leases means those leases, license agreements and occupancy agreements identified on Schedule 2.1.3, as the same may be amended or modified from time to time in accordance with the terms of this Agreement.

  • FF&E Leases means all leases of any FF&E and other contracts permitting the use of any FF&E at the Improvements that are assumed by Buyer.

  • Washington All references to Obligor throughout this Agreement are replaced with Service Provider. A ten percent (10%) penalty per month shall be applied to refunds not paid or credited within thirty (30) days of receipt of returned service Agreement. We may not cancel this Agreement without providing You with written notice at least twenty-one (21) days prior to the effective date of cancellation. Such notice shall include the effective date of cancellation and the reason for cancellation. You are not required to wait sixty (60) days before filing a claim directly with the Service Provider. ARBITRATION section is amended to add the following: The Insurance Commissioner of Washington is the Service Provider’s attorney to receive service of process in any action, suit or proceeding in any court, and the state of Washington has jurisdiction of any civil action in connection with this Agreement. Arbitration proceedings shall be held at a location in closest proximity to the service Agreement holder’s permanent residence. You may file a direct claim with the Service Provider at any time.

  • Lease Agreements shall have the meaning set forth in Section 3.14.

  • Personal Property Leases has the meaning set forth in Section 2.1(e).

  • Company Leases shall have the meaning set forth in Section 3.12(a).

  • AT&T KENTUCKY means the AT&T owned ILEC doing business in Kentucky.

  • Georgia means the territory recognised by the international community within the state borders of Georgia, including land territory, internal waters and territorial sea, the air space above them, in respect of which Georgia exercises its sovereignty, as well as the contiguous zone, the exclusive economic zone and continental shelf adjacent to its territorial sea, in respect of which Georgia may exercise its sovereign rights in accordance with the international law;

  • New Lease Any lease of REO Property entered into on behalf of REMIC I, including any lease renewed or extended on behalf of REMIC I, if REMIC I has the right to renegotiate the terms of such lease.