Examples of Remaining Properties in a sentence
Grantor shall market or cause to be marketed all commercial quantities of the Subject Hydrocarbons in accordance with Section 5.1(a), and shall not be entitled to deduct from the calculation of Developed Properties Net Profits or Remaining Properties Net Profits any fee for marketing the Subject Hydrocarbons allocable to the Development Properties Net Profits Interest or the Remaining Properties Net Profits Interest other than fees for marketing paid to non-Affiliates.
Any fees payable with respect to such renewal, extension, modification, amendment or supplement shall be considered Developed Properties Gross Deductions or Remaining Properties Gross Deductions, as appropriate, for purposes hereof.
The Remaining Properties Net Profits Interest shall apply to all such renewals, extensions, modifications, amendments and supplements of the Remaining Properties Leases (but only to the extent that the predecessor lease (including the lands and depths covered thereby) was subject to the Remaining Properties Net Profits Interest.
Grantor warrants title to the Developed Properties Net Profits Interest, the Remaining Properties Net Profits Interest, and the Overriding Royalty Interest, subject to the Permitted Encumbrances, unto Grantee, its successors and assigns, against all persons whomsoever lawfully claiming or to claim the same, or any part thereof, by, through or under Grantor or its Affiliates, but not otherwise.
If Materials, or xxxxx or facilities located on or used in connection with the Developed Properties Subject Interests, are used in connection with the Remaining Properties Subject Interests, or vice versa, costs attributable to such Materials, xxxxx or facilities shall be allocated between the Subject Interests by Grantor on a fair and equitable basis (without regard to the existence of the Net Profits Interests).