The North Carolina Area of Mutual Interest (AMI) Agreement is a legal document that establishes a cooperative and collaborative relationship between parties with shared interests in a specific area of North Carolina. This agreement allows the parties involved to work together to identify and pursue opportunities for development, growth, and economic cooperation within the designated area. The North Carolina AMI Agreement is designed to promote efficiency, minimize competition, and maximize the utilization of resources within the identified area. One type of North Carolina AMI Agreement is the Energy Sector AMI. This agreement is typically signed between different energy companies, such as renewable energy developers, utility companies, and energy service providers. The Energy Sector AMI aims to facilitate the sharing of knowledge, resources, and expertise to encourage the development of renewable energy projects, improve energy efficiency, and advance the state's energy goals. Another type of North Carolina AMI Agreement is the Economic Development AMI. This agreement is commonly established between local government authorities, economic development agencies, and business organizations. The Economic Development AMI aims to foster collaboration in attracting businesses, promoting investment, and stimulating economic growth within a specific geographic region of North Carolina. This agreement often includes provisions for joint marketing efforts, information sharing, and the identification of infrastructure and workforce development needs. Additionally, there may be specific AMI agreements in various sectors such as healthcare, technology, manufacturing, tourism, and agriculture, each focusing on the unique challenges and opportunities within their field. In summary, a North Carolina Area of Mutual Interest Agreement is a collaborative document that enables parties with shared interests to work together towards common goals in a designated area. By signing this agreement, parties can pool their resources, expertise, and efforts to promote development, growth, and cooperation within their respective sectors or geographic regions.
North Carolina Area of Mutual Interest Agreement
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How to fill out North Carolina Area Of Mutual Interest Agreement?
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An area of mutual interest (AMI) contract describes the geographic area contained in the AMI, the rights of each party (such as the percentage interest allocated to each company), the agreement's term, and how contract provisions are to be implemented.
Total operated basis: The total reserves or production associated with the wells operated by an individual operator. This is also commonly known as the "gross operated" or "8/8ths" basis.
Area Median Income (AMI) The AMI for all cities across the country is defined each year by U.S. Department of Housing and Urban Development (HUD). The 2023 AMI for the New York City region is $127,100 for a three-person family (100% AMI).
The Mutual Aid System is a voluntary agreement among North Carolina local governments to share resources during a disaster. All 100 counties, the Eastern Band of Cherokee Indians and nearly three-fourths of the 650 municipalities have signed the mutual aid agreement.
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.
AFE: abbreviation of Authority for Expenditure. After Payout (APO): the period after Payout has occurred. In the context of a JOA or similar agreement, APO is often used to describe the period after the Consenting Parties have recovered the costs of Production plus the Non-Consent Penalty.
North Carolina General Statutes 47G-1 through 47G-7 govern the rent-to-own, or ?option contract? law. There are minimum contract requirements that must be present before the rent-to-own lease agreement is considered valid.