Remaining Properties definition
Examples of Remaining Properties in a sentence
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.
The Developed Properties Net Profit Account, the Remaining Properties Net Profits Account and the Overriding Royalty Account will be maintained in accordance with the terms of this Conveyance and prudent and accepted accounting principles.
Grantor shall attend to the actual distribution of the Developed Properties NPI Payment Amount, the Remaining Properties NPI Payment Amount and the Overriding Royalty Interest Proceeds to Grantee as provided in this Conveyance.
Grantor shall maintain true and correct books, records and accounts of (a) all transactions required or permitted by this Conveyance (including all financial information necessary to reflect such transactions), and (b) the financial information necessary to make the Developed Properties NPI Calculation, the Remaining Properties NPI Calculation and the calculation of the Overriding Royalty Interest Proceeds with respect to any Payment Period.
Grantor shall never be obligated to pay the Developed Properties NPI Payment Amount, Remaining Properties NPI Payment Amount and Overriding Royalty Interest Proceeds (or portions thereof) to more than one Person.