P&NG Leases definition

P&NG Leases means, collectively, any and all documents of title including leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm-out, farm-in, royalty, purchase or other agreements by virtue of which the Borrower or any Subsidiary thereof is entitled to explore for, drill for, recover, take or produce Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any Subsidiary thereof (as applicable), or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any Subsidiary thereof (as applicable), and the rights of the Borrower or a Subsidiary thereof (as applicable) thereunder.
Sample 1Sample 2Sample 3
P&NG Leases means, collectively, any and all documents of title including, without limitation, leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm out, farm in, royalty, purchase or other agreements by virtue of which the Borrower or any Restricted Subsidiary is entitled to explore for, drill for, recover, take or win Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or Restricted Subsidiary (as applicable), or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or Restricted Subsidiary (as applicable), and the rights of the Borrower or Restricted Subsidiary (as applicable) thereunder;
Sample 1
P&NG Leases means, collectively, any and all documents of title including leases, reservations, permits, licences, unit agreements, assignments, trust declarations, participation, exploration, farm-out, farm-in, royalty, purchase or other agreements by virtue of which the Borrower or any other Obligor is entitled to explore for, drill for, recover, take or produce Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any other Obligor, or to share in the production or proceeds of production or any part thereof or proceeds of royalty, production, profits or other interests out of, referable to or payable in respect of Petroleum Substances of any kind whatsoever from or with respect to P&NG Rights owned by the Borrower or any other Obligor, and the rights of the Borrower or any other Obligor thereunder.
Sample 1

Examples of P&NG Leases in a sentence

  • Subject to Permitted Encumbrances, the Canadian Borrower and each of its Subsidiaries has good and marketable title to its P&NG Rights and P&NG Leases and to its other material property, except to the extent that failure to have such title would not have or would not reasonably be expected to have a Material Adverse Effect.

  • The Borrower shall, and shall cause its Subsidiaries to, comply in all respects with the P&NG Leases relating to P&NG Rights, except to the extent the failure to do so would not have or would not reasonably be expected to have a Material Adverse Effect.

  • The Borrower shall ensure that all of the P&NG Rights which comprise or relate to proved or probable reserves (including any related P&NG Leases and related facilities, infrastructure and tangibles) are directly owned by the Borrower or its Wholly-Owned Subsidiaries or any combination thereof.

  • Table 1 shows the number of persons trained and topic area since the inception of the project.

  • All rents, royalties and other payments due and payable under each of the P&NG Leases and any contracts and other instruments constituting a part of the Collateral have been duly paid.

  • TEC and each Subsidiary has good and marketable title to its P&NG Rights and P&NG Leases and to its other material property, including the right to extract, produce, take and retain Petroleum Substances therefrom in accordance with the respective terms thereof, subject to Permitted Encumbrances.

  • The Borrower shall, and shall cause each of its Subsidiaries to, comply in all material respects with the P&NG Leases relating to P&NG Rights, except where failure to so comply would not have a Material Adverse Effect.

  • Other than the P&NG Leases, a list of each Obligor’s leased real property is as set forth in Schedule 7.1(v).

  • The Borrower will not, and will not permit any other Loan Party to, directly or indirectly, make any acquisition of P&NG Leases, P&NG Rights or other facilities or assets, or any shares, securities or any other ownership interest in any Person or asset, in each case, if an ARO Deficiency shall have occurred and be continuing or would occur, on a pro forma basis after giving effect to such acquisition.

  • See Item 1.4 “Results of Operations – Bakken PN&G Leases, SE Saskatchewan and SW Manitoba”.

Related to P&NG Leases

  • 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.

  • 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.

  • 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.

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

  • 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.

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

  • Facility Leases means all of the leases of Facilities listed on Schedule 3.7 of the Disclosure Schedules.

  • 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.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • 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.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • 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.

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

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

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

  • Material Leases has the meaning set forth in Section 4.21.

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

  • Subject Leases means, for any Asset Review, all 20[•]-[•] Leases which are 60-Day Delinquent Leases as of the end of the Collection Period immediately preceding the related Review Satisfaction Date.

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

  • Equipment Leases has the meaning set forth in Section 2.1.9.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

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

  • Assigned Leases has the meaning specified in Section 2.01(b).