Wellbore Assignment definition
Examples of Wellbore Assignment in a sentence
For each Carry Well, until the earlier of the date Payout has occurred or the effective date of the first Wellbore Assignment delivered to NEGP pursuant to Section 2.5 for such Carry Well, NEGP shall be entitled to the AEE Proceeds of Production attributable to the Earned Wellbore Interests then applicable pursuant to clauses (a), (b) and (c) of the definition of “Earned Wellbore Interest” with respect to such Carry Well (a “Non-Assignment Repayment”).
Any Wellbore Assignment made pursuant to this Agreement shall be in a mutually acceptable form, contain no warranty of title, and shall be made expressly subject to the terms of this Agreement.
This Agreement, the Wellbore Assignment, the Assignment, and the Operating Agreements, and the exhibits hereto and thereto, contain the entire agreement of the Parties with respect to the subject matter hereof and supersede all previous agreements or communications between the Parties, verbal or written, with respect to the subject matter hereof.
In the event CPEC does elect to participate in a Carry Well, then AEE shall assign to USG a Wellbore Assignment covering an amount of AEE’s working interest in such well equal to CPEC’s interest in such well and USG shall pay to AEE as the purchase price for such interest an amount equal to the product of the working interest in such well so assigned multiplied by the per percentage point working interest purchase price allocated to the applicable leases and lands under the terms of the Purchase Agreement.
Subject to S▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇ shall be entitled to its net revenue interest share of production from each Carry Well from the date of first production, notwithstanding that the Wellbore Assignment has not yet been made.
Within three Business Days of any Credit Party receiving a Wellbore Assignment from the DrillCo Investor covering an Initial Reversionary Share (as defined in the DrillCo Agreement) or a Final Reversionary Share (as defined in the DrillCo Agreement), the Borrower shall notify the Administrative Agent of the same.
For each Carry Well, until the earlier of the date Payout has occurred or the effective date of a Wellbore Assignment delivered to USG pursuant to Section 2.5 for such Carry Well, USG shall be entitled to the AEE Proceeds of Production attributable to the Earned Wellbore Interest with respect to such Carry Well (a "Non-Assignment Repayment").
Within ten Business Days after AEE's receipt of a written election from USG to receive a Wellbore Assignment for such Carry Well, AEE shall execute, acknowledge and deliver to USG a Wellbore Assignment conveying the Earned Wellbore Interest for such Carry Well, effective as of the first day of the month following AEE's receipt of such notice until the Termination Date.
Within three Business Days of any Loan Party receiving a Wellbore Assignment from the DrillCo Investor covering an Initial Reversionary Share (as defined in the DrillCo Agreement) or a Final Reversionary Share (as defined in the DrillCo Agreement), the Borrower shall notify the Administrative Agent of the same.
As set forth in the Letter Agreement, as to each Commitment Well that is connected to the sales line prior to Closing, Sellers shall assign to Buyer an undivided fifty percent (50%) wellbore Working Interest in such Well, limited to the depth drilled and proportionately reduced to the extent Sellers own less than the entire Working Interest in such Well, using the form of Wellbore Assignment attached hereto as Exhibit "D" (the "Wellbore Assignment").