Underlying Properties definition

Underlying Properties means the Subject Interests subject to the Net Profits Interest, as “Subject Interests” is defined in the Conveyance.

Underlying Properties means the Subject Interests, Development Xxxxx and Xxxxx subject to the Royalty Interests, as “Subject Interests,” “Development Xxxxx” and “Xxxxx” are defined in the Conveyances.

Underlying Properties means those properties owned by the Company from which the Company will convey the PDP Royalty Interest and the Development Royalty Interest to the Trust. It is further understood and agreed to by all parties hereto that the following transactions will occur on or before the Closing Date (as hereinafter defined):

Examples of Underlying Properties in a sentence

• Contingencies related to the Underlying Properties that are unfavorably resolved would generally be reflected by the Trust as reductions to future royalty income payments to the Trust with corresponding reductions to cash distributions to Unit holders.

• Neither the Trustee nor the Delaware Trustee shall have any responsibility or authority relating to the development or operations of the Underlying Properties or the marketing of any production therefrom or any other business decision affecting the assets of the Trust.

• Contingencies related to the Underlying Properties that are unfavorably resolved would generally be expected to result in reductions to cash receipts to the Trust in respect of the Net Profits Interest with corresponding reductions to cash distributions to Trust unitholders.

• The Underlying Properties include the interests of Boaz Energy in some of the minerals covered by those leases.

• The Net Profits Interest represents the right to receive revenues (primarily oil and natural gas sales), less direct operating expenses, lease operating expenses, severance and ad valorem taxes and development expenses of the Underlying Properties, multiplied by 80%, less any payments made or plus any payments received in connection with the settlement of certain hedge contracts.

More Definitions of Underlying Properties

Underlying Properties means the properties which secure the obligations under the Mortgage Loans, First Mortgage Bonds and other mortgage investments.

Underlying Properties means, collectively, the Premises (as defined in the Mezzanine Loan Agreement) and the Property (as defined in the Mortgage).

Underlying Properties means the natural gas properties in which the Company has an interest located in the Black Warrior Basin, Tuscaloosa County, Alabama insofar as such properties include the Pottsville Formation.

Underlying Properties is defined in the recitals.

Underlying Properties means the real properties to be acquired by the Underlying Partnership pursuant to the Purchase Agreement, each of which real properties is more specifically identified and defined on Schedule 4 attached hereto, together with all other tangible and intangible property to be acquired by the Underlying Partnership pursuant to the Purchase Agreement.

Underlying Properties means the properties which secure the obligations under the Mortgage Loans, First Mortgage Bonds and other mortgage investments.Notes

Underlying Properties means the 650 producing gas wxxxx and 65 proved development well locations located in Western Virginia and Pennsylvania owned by Eastern American Energy Corporation.