Promoted Well definition

Promoted Well shall have the meaning given in Section 3.1.
Sample 1Sample 2
Promoted Well means a Well drilled or to be drilled on a Promoted Interest. "Promoted Well Cost Certificate" is defined in Section 11.13(b).
Sample 1
Promoted Well has the meaning given in Section 4.1.
Sample 1

Examples of Promoted Well in a sentence

  • Notwithstanding anything contained in this Agreement to the contrary, PXP’s obligation to pay Promoted Well Costs shall terminate at such time as the aggregate Promoted Well Costs paid by PXP equals the Promote Cap or the end of the Initial Term, whichever occurs first.

  • Participant shall pay both the Promoted Well Costs and its Proportionate Share of Well Costs for each Promoted Well no later than the applicable time period set forth in the applicable Operating Agreement or Third Party JOA (the “Payment Date”).

  • In the event that Participant fails to pay Promoted Well Costs for any Promoted Well by the respective Payment Date, Eureka may thereupon deliver to Participant a notice of Participant’s failure to pay, which notice shall set forth the amount of Promoted Well Costs that is past due and demand payment of such Promoted Well Costs within ten (10) days after Participant’s receipt of such notice.

  • For purposes of determining Promoted Well Costs for any Well, Eureka’s Working Interest in such Well shall initially be determined as of the date Participant receives the applicable AFE.

  • Participant’s obligation to pay Promoted Well Costs shall terminate at such time as the aggregate Promoted Well Costs paid by Participant equals the Carry Amount.

  • Notwithstanding anything contained in this Agreement to the contrary, the Promoted Holder’s obligation to pay Promoted Well Costs in any given Year or during the Post-Carry Period shall terminate at such time as the aggregate Promoted Well Costs paid by the Promoted Holders during all periods equals the Carry Amount.

  • If, during Year 1, Year 2 or Year 3, as applicable, the Promoted Holder pays Promoted Well Costs in excess of the Carry Amount Tranche for Year 1 or the Adjusted Carry Amount Tranche for Year 2 or Year 3, the Unadjusted Carry Amount Tranche for the next Year shall be adjusted downward in an amount equal to the amount of such excess Promoted Well Costs from the current Year.” 18 See, e.g., Rev.

  • Unless Participant has elected to be a non-consenting party in accordance with the terms hereof and the applicable Operating Agreement or Third Party JOA, in addition to the Promoted Well Costs, Participant shall pay its Proportionate Share of Well Costs for each Promoted Well.

  • PXP’s obligation to pay Promoted Well Costs shall be in addition to the Closing Payments payable by PXP to Chesapeake pursuant to the PSA.

  • With respect to Year 4, any amount of the Unadjusted Carry Amount Tranche for such Year that is not spent in such Year may, up to an amount equal to twenty-five percent (25%) of such Unadjusted Carry Amount Tranche, be carried forward to the Post-Carry Period and applied to Promoted Well Costs incurred prior to the expiration of the Post-Carry Period.


More Definitions of Promoted Well

Promoted Well means any Well in which Chesapeake elects to participate with respect to which PXP has paid or is obligated to pay Promoted Well Costs.”
Sample 1

Related to Promoted Well

  • Abandoned well means a well whose use has been permanently discontinued or which is in a state of disrepair such that it cannot be used for its intended purpose or for observation purposes.

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

  • Shallow well means a well located and constructed in such a manner that there is not a continuous layer of low permeability soil or rock (or equivalent retarding mechanism acceptable to the department) at least 5 feet thick, the top of which is located at least 25 feet below the normal ground surface and above the aquifer from which water is to be drawn.

  • Total tetrahydrocannabinol means the sum of the percentage by weight of tetrahydrocannabinolic acid multiplied by eight hundred seventy-seven thousandths plus the percentage of weight of tetrahydrocannabinol.

  • Dry well means a type of infiltration practice that allows storm water run-off to flow directly into the ground via a bored or otherwise excavated opening in the ground surface.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Injection well means a well into which fluids are injected. (See also “underground injection”.)

  • Edible cannabis product means cannabis product that is intended to be used, in whole or in part, for human consumption, including, but not limited to, chewing gum, but excluding products set forth in Division 15 (commencing with Section 32501) of the Food and Agricultural Code. An edible cannabis product is not considered food, as defined by Section 109935 of the Health and Safety Code, or a drug, as defined by Section 109925 of the Health and Safety Code.

  • Expected week of childbirth means the week, starting on a Sunday, during which the mother's doctor or midwife expects her to give birth.

  • Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

  • stratigraphic test well means a drilling effort, geologically directed, to obtain information pertaining to a specific geologic condition. Ordinarily, such wells are drilled without the intention of being completed for hydrocarbon production. They include wells for the purpose of core tests and all types of expendable holes related to hydrocarbon exploration. Stratigraphic test wells are classified as (i) "exploratory type" if not drilled into a proved property; or (ii) "development type", if drilled into a proved property. Development type stratigraphic wells are also referred to as "evaluation wells".

  • Oil well means any well capable of producing oil or oil and casinghead gas from a common source of supply as determined by the commission.

  • Deep well means a well located and constructed in such a manner that there is a continuous layer of low permeability soil or rock at least 5 feet thick located at least 25 feet below the normal ground surface and above the aquifer from which water is to be drawn.

  • Massive Multiauthor Collaboration Site (or “MMC Site”) means any World Wide Web server that publishes copyrightable works and also provides prominent facilities for anybody to edit those works. A public wiki that anybody can edit is an example of such a server. A “Massive Multiauthor Collaboration” (or “MMC”) contained in the site means any set of copyrightable works thus published on the MMC site.

  • explosive actuated fastening device means a tool that is activated by an explosive charge and that is used for driving bolts, nails and similar objects for the purpose of providing fixing;

  • Tetrahydrocannabinol means the natural or synthetic equivalents of the substances contained in the plant, or in the resinous extractives of, Cannabis sativa, or any synthetic substances, compounds, salts, or derivatives of the plant or chemicals and their isomers with similar chemical structure and pharmacological activity.

  • Commercial cannabis activity means the production, cultivation,

  • Assistive device means any item, piece of equipment, or product system which is used to increase, maintain, or improve the functional capabilities of an individual with a disability in the workplace or on the job. “Assistive device” does not mean any medical device, surgical device, or organ implanted or transplanted into or attached directly to an individual. “Assistive device” does not include any device for which a certificate of title is issued by the state department of transportation, but does include any item, piece of equipment, or product system otherwise meeting the definition of “assistive device” that is incorporated, attached, or included as a modification in or to such a device issued a certificate of title.

  • Usable cannabis means any cannabis plant material, including seeds, but not (i) resin that has been extracted from any part of the cannabis plant, its seeds, or its resin; (ii) the mature stalks, fiber produced from the stalks, or any other compound, manufacture, salt, or derivative, mixture, or preparation of the mature stalks; or (iii) oil or cake made from the seeds of the plant.

  • Test Well means a well constructed for the purpose of obtaining information needed to design a well prior to its construction. Test wells are cased and can be converted to observation or monitoring wells and under certain circumstances to production wells

  • Active business operations means all business operations that are not inactive business operations.

  • Water well means an excavation that is drilled, cored, bored, augered, washed, driven, dug, jetted, or otherwise constructed for the purpose of exploring for groundwater, monitoring groundwater, utilizing the geothermal properties of the ground, or extracting water from or injecting water into the aquifer. “Water well” does not include an open ditch or drain tiles or an excavation made for obtaining or prospecting for oil, natural gas, minerals, or products mined or quarried.

  • Cannabinoid edible means food or potable liquid into which a cannabinoid concentrate, cannabinoid extract or dried marijuana leaves or flowers have been incorporated.

  • complex product means a product which is composed of multiple components which can be replaced permitting disassembly and re-assembly of the product.

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Anti-Static Product means a product that is labeled to eliminate, prevent, or inhibit the accumulation of static electricity. “Anti-Static Product” does not include “Electronic Cleaner,” “Floor Polish or Wax,” “Floor Coating,” and products that meet the definition of “Aerosol Coating Product” or “Architectural Coating.”