Wellbore Interest definition

Wellbore Interest means, for each Subject Well, a specified percentage of AEE's right, title and interest in and to: (i) the applicable Subject Well and associated wellbore and all Hydrocarbons and other substances produced therewith, (ii) all equipment, contracts and other personal property and fixtures associated with such Subject Well and (iii) the oil and gas leases described in Exhibit A insofar and only insofar as such leases cover the right to produce from the wellbore of such Subject Well from the Commencement Date for such Subject Well.
Sample 1

Examples of Wellbore Interest in a sentence

  • Contemporaneously with Closing, Seller shall execute, acknowledge and deliver to Issuer a Precautionary Wellbore Interest Deed of Trust, Mortgage, Assignment of As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement, substantially in the form attached hereto as Exhibit G (a "Precautionary Mortgage") describing the Wellbore Interests as collateral, and such Precautionary Mortgage shall be recorded in the local land records where the Xxxxx are located.

  • Other than liens or encumbrances arising by, through or under USG in the ordinary course of business (“Ordinary Course Liens”), USG agrees to not subject any Carry Well to any lien or encumbrance or any hydrocarbon sales contracts, production payments or other forward-sales contracts arising nor will USG create or assign to any third party any overriding royalty, net profits, interest or other non-cost bearing interest covering such Earned Wellbore Interest.

  • In addition to providing an easy way to visualize and browse the errors in MT output, WADE allows us to aggregate counts over the S4 error types.One potential shortcoming of WADE is that it relies on word alignments between our test and reference sets, and alignment errors will result in errors in the error analysis.

  • The term “Carried Working Interest” means that the Assignor shall bear the Carried Costs (defined below) attributable to Assignee’s Wellbore Interest prior to the point of delivery of production from the Wellbore to the tanks for oil and to the first meter on the wellsite for gas.

  • The Issuer will apply the proceeds of the sale of the Notes hereunder (a) to acquire the Wellbore Interests by acquiring 100% of the transferable interests of the Guarantors, (b) to fund the Liquidity Reserve Account in an amount equal to the Liquidity Reserve Account Initial Deposit, and (c) to pay transaction costs associated with the issuance of the Notes and the acquisition of the Wellbore Interest.

  • Subject to Section 2.6, the obligations of USG to make any payment and any re-assignment of the Earned Wellbore Interest to AEE pursuant to Section 3.1 and the provisions of Article 9 (excluding Section 9.11 which shall be limited as set forth therein) shall survive the termination of this Agreement.

  • In the event AEE fails to pay any amounts owed in accordance with this paragraph, USG shall have the right to withhold any reassignment due to AEE of any Earned Wellbore Interest and further withhold AEE's share of production attributable thereto and apply proceeds from the sale thereof as an offset against the total delinquent amount due under this Agreement until such time as 100% of the delinquent amounts has been recouped.

  • 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").

  • For the avoidance of doubt, USG shall not be entitled to an assignment of a Wellbore Interest with respect to any Subject Well that is not completed as a well capable of producing oil or gas and the intent to Plug and Abandon has been filed or will be filed within thirty (30) days with the relevant Governmental Authority following cessation of drilling operations.

Related to Wellbore Interest

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Subject Interest has the meaning assigned to such term in the recitals.

  • Subject Interests means Assignor’s undivided interests in the Subject Lands, as determined prior to giving effect to this Conveyance (or as may be made part of the Subject Interests pursuant to Section 3.1 or 3.2 of the Development Agreement), whether as lessee under leases, as an owner of the Subject Minerals (or the right to extract such Minerals) or otherwise, by virtue of which undivided interests Assignor has the right to conduct exploration, drilling, development and Mineral production operations on the Subject Lands, or to cause such operations to be conducted, or to participate in such operations by paying and bearing all or any part of the costs, risks and liabilities of such operations, to drill, test, complete, equip, operate and produce xxxxx to exploit the Minerals. The “Subject Interests” (a) may be owned by Assignor pursuant to leases, deeds, operating, pooling or unitization agreements, orders or any other instruments, agreements or documents, recorded or unrecorded, (b) include any and all extensions or renewals of leases covering the Subject Lands (or any portion thereof) obtained by Assignor, or any Affiliate thereof, within six (6) months after the expiration or termination of any such lease, and (c) are subject to the Permitted Encumbrances. For the avoidance of doubt, the “Subject Interests” do not include: (i) Assignor’s interests in the Excluded Assets; (ii) Assignor’s rights to substances other than Minerals; (iii) Assignor’s rights to Minerals (other than Assignee Minerals) under contracts for the purchase, sale, transportation, storage, processing or other handling or disposition of Minerals; (iv) Assignor’s interests in, or rights to Minerals (other than Assignee Minerals) held in pipelines, gathering systems, storage facilities, processing facilities or other equipment or facilities, other than Development Xxxxx; or (v) any additional or enlarged interests in the Development Xxxxx, Subject Lands or Subject Minerals acquired by Assignor after the Closing Time, except (1) to the extent any such additional or enlarged interest becomes a part of the Subject Interests by amendment to this Conveyance pursuant to Section 3.1 or 3.2 of the Development Agreement, (2) as may result from the operation of the terms of the instruments creating the Subject Interests, or (3) as may be reflected in extensions and renewals covered by the preceding sentence.

  • Asset Interest is defined in Section 2.1(b).

  • Joint Venture Interests means assets of the Company and its Subsidiaries constituting an equity investment in real estate assets or other properties, or in an entity holding real estate assets or other properties, jointly owned by the Company and its Subsidiaries, on the one hand, and one or more other Persons not constituting Affiliates of the Company, on the other hand, excluding any entity or properties (i) which is a Subsidiary or are properties if the co-ownership thereof (if in a separate entity) would constitute or would have constituted a Subsidiary, or (ii) to which, at the time of determination, the Company’s manager at such time or an Affiliate of the Company’s manager at such time provides management services. In no event shall Joint Venture Interests include equity securities that are part of a class of equity securities that are traded on a national or regional securities exchange or a recognized over-the-counter market or any investments in debt securities, mortgages or other Debt.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Water interest means any right to the beneficial use of water, including:

  • Net Revenue Interest means, with respect to any Property, the interest in and to all Hydrocarbons produced, saved, and sold from or allocated to such Property after giving effect to all royalties, overriding royalties, production payments, carried interests, net profits interests, reversionary interests, and other burdens upon, measured by, or payable out or production therefrom.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Acreage means the number of acres of land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the Board may rely on the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map.

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Subject Lands means the lands subject to or covered by the oil and gas leases described in Exhibit A, insofar and only insofar as they cover the Target Formation, subject to the exceptions, exclusions and reservations set forth on such Exhibit A.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Proportionate Interest has the meaning specified in Section 2.5(d);

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

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

  • Subject Vehicle means the vehicle being tested.

  • Other Minerals means sulphur, lignite, coal, uranium, thorium, iron, geothermal steam, water, carbon dioxide, helium and all other minerals, ores or substances of value whether or not generally produced from a wellbore in conjunction with the production of oil and gas.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.