Louisiana Preferential Purchase Right Notice / Waiver Under Operating Agreement
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How to fill out Preferential Purchase Right Notice / Waiver Under Operating Agreement?
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FAQ
AMI contracts are common tools for sharing risks of development, along with the associated ownership and profits, among companies who want to jointly explore for oil and gas in a specific area.
The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.
A Louisiana LLC Operating Agreement is a legal document that outlines how a Louisiana LLC will be run. Louisiana LLC Operating Agreements list all LLC owners (known as ?Members?), their contribution amounts, and their ownership interest percentages.
An AMI agreement binds the signatory parties to jointly explore for oil and gas in a defined geographic area for a specified period of time.
Area of Mutual Interest (AMI): a geographic area generally defined by a contract (e.g., Farmout, JOA, JDA or similar agreement) within which two or more persons hold an interest.
