This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
The Arizona Certificate of Termination of Unit is a legal document that signifies the completion of the termination process for a specific unit or entity. This certificate serves as proof that the unit has undergone the required procedures and has been dissolved or discontinued in accordance with the state's regulations. The Arizona Certificate of Termination of Unit is typically filed with the Arizona Corporation Commission (ACC), which is responsible for overseeing business entities in the state. It is an essential step in formally dissolving a unit and ensures that all legal obligations and liabilities associated with the unit have been settled. There are several types of Arizona Certificate of Termination of Unit, each applicable to different types of entities. Some of these types include: 1. Arizona Limited Liability Company (LLC) Certificate of Termination of Unit: This document is specific to LCS, which are widely used business structures in Arizona. The certificate confirms the termination of an LLC, concluding its legal existence and freeing the owners from any further obligations and liabilities. 2. Arizona Corporation Certificate of Termination of Unit: This type of certificate is intended for corporations, which are separate legal entities from their owners. The certificate signifies the completion of the termination process for a corporation, ensuring that the company is no longer active and its assets and liabilities have been appropriately addressed. 3. Arizona Partnership Certificate of Termination of Unit: This certificate applies to partnerships, whether they are general partnerships, limited partnerships, or limited liability partnerships. It marks the conclusion of the partnership's operations, including the settlement of debts, distribution of assets, and cancellation of any legal obligations. The Arizona Certificate of Termination of Unit typically requires certain information to be included, such as the name and address of the unit, the type of entity being terminated, the reason for termination, and details of any outstanding debts, assets, or other obligations related to the unit. Filing the Arizona Certificate of Termination of Unit with the ACC is a crucial step in ensuring that the termination process is completed in full compliance with Arizona state laws. Failure to file this certificate may result in continued legal obligations and liabilities for the unit and its owners.The Arizona Certificate of Termination of Unit is a legal document that signifies the completion of the termination process for a specific unit or entity. This certificate serves as proof that the unit has undergone the required procedures and has been dissolved or discontinued in accordance with the state's regulations. The Arizona Certificate of Termination of Unit is typically filed with the Arizona Corporation Commission (ACC), which is responsible for overseeing business entities in the state. It is an essential step in formally dissolving a unit and ensures that all legal obligations and liabilities associated with the unit have been settled. There are several types of Arizona Certificate of Termination of Unit, each applicable to different types of entities. Some of these types include: 1. Arizona Limited Liability Company (LLC) Certificate of Termination of Unit: This document is specific to LCS, which are widely used business structures in Arizona. The certificate confirms the termination of an LLC, concluding its legal existence and freeing the owners from any further obligations and liabilities. 2. Arizona Corporation Certificate of Termination of Unit: This type of certificate is intended for corporations, which are separate legal entities from their owners. The certificate signifies the completion of the termination process for a corporation, ensuring that the company is no longer active and its assets and liabilities have been appropriately addressed. 3. Arizona Partnership Certificate of Termination of Unit: This certificate applies to partnerships, whether they are general partnerships, limited partnerships, or limited liability partnerships. It marks the conclusion of the partnership's operations, including the settlement of debts, distribution of assets, and cancellation of any legal obligations. The Arizona Certificate of Termination of Unit typically requires certain information to be included, such as the name and address of the unit, the type of entity being terminated, the reason for termination, and details of any outstanding debts, assets, or other obligations related to the unit. Filing the Arizona Certificate of Termination of Unit with the ACC is a crucial step in ensuring that the termination process is completed in full compliance with Arizona state laws. Failure to file this certificate may result in continued legal obligations and liabilities for the unit and its owners.
