Record Title definition

Record Title with respect to an OCS Lease, an ownership interest in the OCS Lease that is classified as a “record title” interest under the rules and regulations of the MMS and which includes the right to explore for and develop oil, gas, or sulphur resources, as well as responsibilities for all lease liabilities created or established during tenure of ownership, and which also includes the right to relinquish the OCS Lease.

Record Title means the legal and of record ownership of the Properties.

Record Title means legal ownership of a geothermal lease established in BLM’s records. Relinquishment means the lessee’s

Examples of Record Title in a sentence

• Buyer must receive, on or before Record Title Deadline, copies of all Title Documents.

• On or before Record Title Deadline, Seller must furnish to Buyer, a current commitment for an owner’s title insurance policy (Title Commitment), in an amount equal to the Purchase Price, or if this box is checked, an Abstract of Title certified to a current date.

• The search should commence with the instrument constituting the root of title under the Marketable Record Title Act (MRTA) (evidence of title that is at least 30 years old) and should include a review of all subsequently recorded instruments, as well as a review of prior recorded instruments that are not eliminated by MRTA.

• The Record Title Interest conveyed to Ridgewood will be subject to its proportionate share of the lessor’s royalty and its proportionate share of an overriding royalty interest equal to 2% of 6/6 to be reserved in favor of Newfield in the Assignment.

• The Record Title Interest conveyed to Ridgewood shall otherwise be free and clear of any other overriding royalty interests, production payments, or other burdens on production, subject to a special limited warranty of title.

More Definitions of Record Title

Record Title means a lessee’s inter- est in a lease which includes the obli- gation to pay rent, and the rights to assign and relinquish the lease. Over- riding royalty and operating rights are severable from record title interests.

Record Title. Holder: RNPLLC, as successor to Agrifos Fertilizer, Inc. Index Numbers: 0450020030083, 0450020010030, 0450020010187 AND 0410340010005

Record Title means all of the Chevron rights, obligations, liabilities and attributes of a working interest ownership covering all depths in and on a Lease.

Record Title means for each lease affecting a Property or Well, as applicable, such title that is deducible (i) in the case of fee leases, from a review of the records of the applicable county, (ii) in the case of federal leases, from a review of records of the applicable office of the Bureau of Land Management or Minerals Management Service, (iii) in the case of state leases, from a review of the records of the applicable state land office or the records of the applicable county, or (iv) in the case of state-mandated pooling orders, in the office of the applicable Governmental Authority.

Record Title means all of the rights, obligations, liabilities and attributes of a working interest ownership covering all depths in and on a Lease.

Record Title means the record title ownership of a Lease. As used herein, the term "Operating Rights" means the interest created out of the record title ownership of a Lease authorizing the holder of that right to enter upon the lands covered by the Lease to conduct drilling and related operations, including production of oil or gas from such lands, in accordance with the terms of the Lease, and the obligation to bear the expense and cost associated with such operations.

Record Title. Second Rate Schedule FERC No. 314