This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
Area of Mutual Interest
Category:
State:
Multi-State
Control #:
US-OG-695
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Area Of Mutual Interest?
1. Start by providing the basic information such as the names of the parties involved, the effective date of the agreement, and the project or property that the agreement is intended for.
2. Specify the scope of the agreement by clearly outlining the geographic area or specific project to which the Area of Mutual Interest applies.
3. Include the terms and conditions of the agreement, including any financial obligations or responsibilities of each party, timelines for decision-making, and any other relevant details.
4. Clearly define the rights and obligations of each party within the Area of Mutual Interest, including the process for obtaining consent or approval from the other party for certain actions.
5. If applicable, include any provisions for dispute resolution or termination of the agreement.
6. Sign and date the form to indicate agreement to the terms outlined.
It is possible to fill out an Area of Mutual Interest form online on platforms like US Legal Forms. On US Legal Forms, users can find up-to-date lawyer-approved, state-specific form templates that can be completed or downloaded in Word, PDF, and RTF formats. To access these forms, users need to register and purchase a Basic or Premium subscription on a monthly or annual basis.
2. Specify the scope of the agreement by clearly outlining the geographic area or specific project to which the Area of Mutual Interest applies.
3. Include the terms and conditions of the agreement, including any financial obligations or responsibilities of each party, timelines for decision-making, and any other relevant details.
4. Clearly define the rights and obligations of each party within the Area of Mutual Interest, including the process for obtaining consent or approval from the other party for certain actions.
5. If applicable, include any provisions for dispute resolution or termination of the agreement.
6. Sign and date the form to indicate agreement to the terms outlined.
It is possible to fill out an Area of Mutual Interest form online on platforms like US Legal Forms. On US Legal Forms, users can find up-to-date lawyer-approved, state-specific form templates that can be completed or downloaded in Word, PDF, and RTF formats. To access these forms, users need to register and purchase a Basic or Premium subscription on a monthly or annual basis.