Undeveloped Lease definition

Undeveloped Lease means any Lease (or portion thereof), but in each case only as to the Subject Formation.
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Undeveloped Lease means any oil and gas lease, oil, gas and mineral lease or sublease, royalty, overriding royalty, production payment, net profits interest, mineral fee interest, carried interest, mineral servitude or other right to oil and gas in place (in each case) with respect to which no oil and gas development activities have taken place.
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Undeveloped Lease means the Leases or portions thereof set forth on Exhibit A-1 to the extent and only to the extent falling outside of the Units.
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Examples of Undeveloped Lease in a sentence

  • Except as set forth on Schedule 3.13, Seller has no unfulfilled drilling obligations affecting the Leases by virtue of a Related Contract, other than provisions requiring optional drilling as a condition of maintaining or earning all or a portion of an Undeveloped Lease.

  • The Assignment shall contain a special warranty, effective as of the Closing Date and surviving indefinitely, by which Seller warrants there is no Title Defect as to each Undeveloped Lease and Well arising by, through or under Seller or any of its affiliates, but not otherwise, subject, however, to the Permitted Encumbrances.

  • If NDL acquires any Undeveloped Lease subject to a back-in reversionary interest in favor of any non-affiliate third Party, said Undeveloped Lease shall be subject to NDL’s overriding royalty interest to the extent applicable as described above, but NDL’s overriding royalty interest will not apply to the back-in reversionary interest.

  • Each Participant receiving an assignment of such Undeveloped Lease shall also bear its Proportionate Share of any back-in reversionary interest in such Undeveloped Lease.

  • If the Asserted Defect is a defect described in Section 6(b)(iii): a downward adjustment equal to the amount determined by multiplying the Value Per Net Acre by an amount equal to the difference between (A) Net Leasehold Acres as shown on Exhibit A-3 and (B) the total number of net undeveloped acres actually determined to exist for such Undeveloped Lease (such adjustment referred to as the “Net Acre Defect Amount”).

  • Cotton Valley Sand 2004 activity / 2005 plan & acceleration 17g- 5n / 14**-16g - 4-5n 12/31/04* PUDs 31gross/ 9 net Prob 25gross/ 8 net 7,816 gross / 2,173 net acres CVS Producer PUD Probable Gas Unit Undeveloped Lease Hold * Net interests assume 100% of unit is obtained, GMX participates with full interest, numbers are rounded, probable are company estimates.

  • Seller’s ownership of an Undeveloped Lease is such that it clearly entitles Seller to receive a decimal share of the oil, gas and other hydrocarbons produced from such Undeveloped Lease, which is less than the decimal share set forth on Exhibit A-3 with respect to such Undeveloped Lease.

  • Seller’s ownership of the Leases is such that, with respect to an “Undeveloped Lease” identified as such on Exhibit A-3, it clearly entitles Seller to fewer Net Leasehold Acres (defined below) for such Undeveloped Lease than that shown on Exhibit A-3.

  • Annexure - H Declaration Letter for Compliance ToThe General Manager, Bank of India, Head Office,Star House-2, C-4, ‘G’ Block, 8th floor, I.T. Department; Bandra Kurla Complex,Bandra (East), Mumbai – 400 051Email: headoffice.it@bankofindia.co.in Dear Sir,SUB: Declaration for compliance of all clauses of RFP ref.

  • Undeveloped Lease that covers undeveloped lands, entitles the impossible to not less than at Net Acres specified for such portion of seven Property Subdivision under the column Entity Und.


More Definitions of Undeveloped Lease

Undeveloped Lease means each tract or parcel included in or burdened by a Lease (or portion thereof) that is not located within a Unit or a Future Location, but in each case only as to applicable Subject Formations.
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Undeveloped Lease means any Lease identified as an “Undeveloped Lease” in Part A of Exhibit A.
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Undeveloped Lease means each Lease (or portion thereof) that is not included in or allocated to the proration unit for a Well. The term “Net Mineral Acre” means, as to each parcel or tract burdened by an Undeveloped Lease, the product of (i) the number of surface acres of land that are described in such parcel or tract (i.e., gross acres), multiplied by (ii) the undivided interests in the fee minerals, non-executive interests and other mineral fee interests in the lands covered by such parcel or tract burdened by the applicable Undeveloped Lease, multiplied by (iii) Seller’s working interest in such Undeveloped Lease.
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Undeveloped Lease means each Lease (or portion thereof) that is not included within a Unit or Future Location.
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Related to Undeveloped Lease

  • Undeveloped Land means (i) all undeveloped land existing on or acquired after the Issue Date and (ii) any operating property of the Company or any Subsidiary that is subject to a casualty event that results in such property ceasing to be operational.

  • Undeveloped Property means all Assessor’s Parcels of Taxable Property which are not Developed Property.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Leased Land means land which is the subject of a lease granted under section 60 or 93G; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Assigned Leases has the meaning specified in Section 2.01(b).

  • mineral lease means the mineral lease referred to in clause 8(1)(a) hereof and includes any renewal thereof;

  • New Leases means, collectively, any lease for space at the Property entered into between the Commencement Date and the Closing Date.

  • Leasehold Interests means all of each Loan Party’s right, title and interest in and to, and as lessee of, the premises identified as leased Real Property on Schedule 4.4 hereto.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • New Lease Any lease of REO Property entered into on behalf of REMIC I, including any lease renewed or extended on behalf of REMIC I, if REMIC I has the right to renegotiate the terms of such lease.

  • Leaseholds of any Person shall mean all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Assumed Leases has the meaning set forth in Section 2.6(b).

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Real Property Lease has the meaning set forth in Section 3.9(b).

  • Developed Land means all Developable Land of the Company and its Restricted Subsidiaries which is undergoing active development or is ready for vertical construction.

  • Operating Lease means, as applied to any Person, any lease (including, without limitation, leases which may be terminated by the lessee at any time) of any Property (whether real, personal or mixed) which is not a Capital Lease other than any such lease in which that Person is the lessor.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Leases means any and all leases, subleases, tenancies, options, concession agreements, rental agreements, occupancy agreements, franchise agreements, access agreements and any other agreements (including all amendments, extensions, replacements, renewals, modifications and/or guarantees thereof), whether or not of record and whether now in existence or hereafter entered into, affecting the use or occupancy of all or any portion of any Real Property.