Record Title Interest definition

Record Title Interest means an ownership interest in a Lease that (a) applies to all depths, (b) includes the right to unitize, relinquish and terminate the Lease, and (c) is a Working Interest except as to any depths covered by Operating Rights.
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Record Title Interest means an ownership interest in a federal lease that
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Record Title Interest. None Working Interest (GA 389): None Overriding Royalty Interest (GA 389): 1.00000% An undivided one percent (1%) of six-sixths (6/6ths) overriding royalty interest in and to OCS-G 17133. *WEST DELTA BLOCK 58
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Examples of Record Title Interest in a sentence

  • 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.

  • This Assignment of Record Title Interest is subject to the approval of the Minerals Management Service of the United States Department of the Interior and/or any other governmental department or agency having jurisdiction, which approval(s) Assignee shall earnestly seek to secure by promptly filing this Assignment of Record Title Interest with the appropriate offices of same.

  • ASSIGNMENT OF RECORD TITLE ------------------------------------------ At such time as the ITW is drilled to Casing Point and Ridgewood has satisfied the monetary obligations set forth in Articles 1 and 2 above, LLOG shall execute and deliver to Ridgewood an Assignment of Record Title Interest delivering to Ridgewood a 50% Record Title Interest in each Lease so earned.

  • Within three (3) business days from receipt of the Sunk Land Costs, LLOG shall execute and deliver to Ridgewood an Assignment of Record Title Interest delivering to Ridgewood a 50% of 6/6ths Record Title Interest in the Redacted Lease.

  • Surge Prospect Participation Agreement 23 This Assignment of Record Title Interest is subject to that certain Participation Agreement dated effective August 1, 2008 by and between Assignors and Assignee and that certain Operating Agreement dated effective _________ 1, 2008 by and between Assignors and Assignee and [here insert name, if applicable].

  • For BOEM Use only – Do Not Type Below This Line This Assignment of Record Title Interest has been filed as of the date stamped on this document and hereby approved by the Bureau of Ocean Energy Management on the date below.

  • This Assignment of Record Title Interest is made free and clear of all burdens and encumbrances on the Lease, except for the lessor’s royalty and those existing burdens and encumbrances set forth in Exhibit “A” attached hereto and is delivered and accepted without any warranty of title, express or implied, except as to persons lawfully claiming by, through or under Assignors, but not otherwise, or other representations or warranties.

  • Federal OCS oil and gas lease serial number OCS-G 36605, dated June 1, 2019, between the United States of America and Shell Offshore Inc., covering all of Garden Banks Block 464, OCS Official Protraction Diagram NG15-02, containing approximately 5,760 acres and bearing a royalty rate of 18.75% percent (Record Title Interest).

  • An undivided one hundred percent (100%) of the Record Title Interest in and to OCS-G 13928.


More Definitions of Record Title Interest

Record Title Interest means a lessee’s interest in a lease which includes the obligation to pay rent, and the rights to assign and relinquish the lease; and “Operating Rights” means the interest created out of a lease authorizing the holder of that right to enter upon the lease lands to conduct drilling and related operations, including the production of oil or gas from such lands in accordance with the terms of the lease, but does not include record title interests to such leases. This Assignment is made, executed, and delivered without covenant or warranty of title, either express, implied or statutory, even as to a return of the purchase price, except that Assignor warrants title to the Leases and Xxxxx unto Assignee, its successors and assigns, from and against all transfers, conveyances, assignments, liens or encumbrances affecting the Assets arising by, through or under Assignor’s own acts, and with full substitution and subrogation in and to all rights and actions of warranty of title which Assignor has or may have against all preceding owners and vendors, except to the extent any such warranty is not transferrable or is subject to a transfer fee or similar payment (unless Assignee assumes responsibility for such transfer fee or similar payment) (“Special Warranty of Title”). Assignee acknowledges that the Assets have been used for oil and gas exploration, drilling, producing, treating and transportation operations, related oil field operation and possibly the storage and disposal of waste materials incidental to, or occurring in connection with, such operations and that physical changes in the land and/or water bottoms may have occurred as a result of such uses. Assignee further acknowledges that there is a possibility that there are currently unknown, abandoned xxxxx, plugged xxxxx, pipelines and other equipment on or underneath the property subject to the Assets. Additionally, Assignee acknowledges that the Assets may contain asbestos, hazardous substances, or Naturally Occurring Radioactive Material (“NORM”). NORM may affix or attach itself to the inside of xxxxx, materials, and equipment as scale or in other forms; xxxxx, materials and equipment located on the Lease or included in the Assets may contain NORM; and NORM containing material may have been buried or otherwise disposed on the Lease or Assets. Assignee acknowledges that special procedures may be required for remediating, removing, transporting and disposing of asbestos, NORM, hazardous substances and other...
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Related to Record Title Interest

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Transferred Interests has the meaning set forth in the Recitals.

  • Simple interest means interest computed on the principal balance outstanding

  • Purchased Interest means, at any time, the undivided percentage ownership interest in: (a) each and every Pool Receivable now existing or hereafter arising, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Such undivided percentage interest shall be computed as:

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Assigned Interests has the meaning set forth in Section 2 hereof;

  • Title Transfer means the transfer of title to Gas between two (2) Shippers at a Delivery Point, provided that each such party has executed a Transportation Service Agreement, or the transfer of title to Gas between two (2) Shippers at ATP, provided each such party has executed either a Transportation Service Agreement or a Title Transfer Agreement.

  • Uncertificated Lower-Tier Interests Any of the Class LA1, Class LA2, Class LA3, Class LA4, Class LA5, Class LASB, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR Uncertificated Interests.

  • Uncertificated Lower-Tier Interest A regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and is entitled to monthly distributions as provided in Section 5.02(a) hereof. Any of the Class 1-L Interest, Class 1-LS Interest, Class 2-L Interest, Class 2-LS Interest, Class 3-L Interest, Class 3-LS Interest, Class 4-L Interest and Class 4-LS Interest are Uncertificated Lower-Tier Interests.

  • Ownership Interests means, with respect to any entity, any ownership interests in the entity and any economic rights (such as a right to distributions, net cash flow or net income) to which the owner of such ownership interests is entitled.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Membership Interests has the meaning set forth in the recitals.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Purchased Interests has the meaning set forth in the Recitals.

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • sectional title unit means a unit defined in section 1 of the Sectional Titles Act;

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Assigned Value means the Market/Offer Price, as defined in Section 7.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.