Examples of Royalty Settlement Agreement in a sentence
If a Lessee invokes the Force Majeure terms of its Royalty Settlement Agreement as a result of a reduction in Buyer's nomination in the event of Buyer’s Force Majeure, Refinery Turnaround, or for any other reason, Buyer’s reduced nomination shall not become effective until the end of the additional 90 Day notice period.
Buyer acknowledges that if a Lessee invokes the Force Majeure provisions of its Royalty Settlement Agreement or the Leases, the State may be required to give up to 180 Days’ (i.e., an additional 90 Days) notice to the Lessee prior to decreasing the State’s nomination of Royalty Oil to be taken in-kind in any Month.
Upon termination of the State’s obligations under this Section 9.1.2, Buyer and Guarantor shall be liable for payment and performance of all their obligations for Sale Oil and Additional Sale Oil the State delivered to Buyer before termination and for a minimum of one hundred Days after termination, plus an additional 90 Days if a Lessee invokes the force majeure term of its Royalty Settlement Agreement.
See section B, subsection 5, III.A.(g) of the Eighth Amendment to ANS Royalty Settlement Agreement between Phillips Alaska, Inc.
See section B, subsection III.A.5 of the Thirteenth Amendment to ANS Royalty Settlement Agreement between ConocoPhillips Alaska, Inc.
If a Lessee invokes the Force Majeure terms of its Royalty Settlement Agreement and extends the notice period an additional 90 Days, the State agrees to make commercially reasonable efforts to reduce the volume of its Royalty Oil nominations.2.1.7 No Guarantee of Sale Oil Quantity.
If a Lessee invokes the Force Majeure terms of its Royalty Settlement Agreement and extends the notice period an additional 90 Days, the State agrees to make commercially reasonable efforts to reduce the volume of its Royalty Oil nominations.
Upon termination of the State’s obligations under this Section 9.1.2, Buyer and Guarantor shall be liable for payment and performance of all their obligations for Sale Oil the State delivered to Buyer before termination and for a minimum of one hundred Days after termination, plus an additional 90 Days if a Lessee invokes the force majeure term of its Royalty Settlement Agreement.
The 1980 Prudhoe Bay Unit Royalty Settlement Agreement requires the State to pay field costs for gas royalty produced from DL-1 leases associated with a major gas project (like AKLNG), whether the State takes the gas RIK or RIV.
The State’s position is that no field costs should be paid to the Producers, even for PBU gas covered under the 1980 PBU Royalty Settlement Agreement, because the Producers can deduct such field costs as leasehold expenditures against their oil production tax, and also because the State is investing in 25 percent of the AKLNG Project.