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 Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the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 New Mexico Certificate of Termination of Unit refers to a legal document used to dissolve or terminate a business entity in the state of New Mexico. It declares that the entity has completed the necessary steps to wind up its affairs and cease its operations. This certificate is crucial in order to formally close the entity and prevent any future legal obligations or liabilities. Keywords: New Mexico, Certificate of Termination, Unit, dissolve, terminate, business entity, legal document, wind up, affairs, operations, liabilities. Different Types of New Mexico Certificate of Termination of Unit: 1. Limited Liability Company (LLC) Certificate of Termination of Unit: — This type of certificate is used when an LLC in New Mexico decides to close its operations and dissolve the entity officially. — It confirms that the LLC has fulfilled all obligations, such as settling debts, distributing assets, and notifying members and creditors about the termination. — The LLC should provide all necessary documentation, such as articles of dissolution, final tax returns, and clearance from relevant government agencies. 2. Corporation Certificate of Termination of Unit: — This certificate is applicable when a corporation in New Mexico chooses to terminate its existence legally. — The corporation must follow the state's regulations to formally dissolve, which may involve obtaining shareholder approval, settling outstanding liabilities, and winding up business operations. — The certificate affirms that the necessary steps have been taken to finalize the dissolution, including filing articles of dissolution and providing details of asset distribution. 3. Partnership Certificate of Termination of Unit: — Partnerships in New Mexico may utilize this certificate when they decide to end their business operations and dissolve the partnership. — The document demonstrates the proper closure of the partnership, including notifying partners and creditors, distributing assets, settling debts, and filing necessary paperwork with the appropriate authorities. 4. Nonprofit Organization Certificate of Termination of Unit: — Nonprofit organizations in New Mexico use this certificate to legally terminate their nonprofit status. — The organization should inform the state's regulatory bodies, cease operations, distribute remaining assets to other nonprofits, and file the required documentation, such as articles of dissolution. — The certificate verifies that the nonprofit has fulfilled all obligations and can now be officially dissolved. In summary, the New Mexico Certificate of Termination of Unit is a vital legal document used to dissolve different types of business entities, including LCS, corporations, partnerships, and nonprofit organizations. These certificates confirm that the entities have fulfilled all obligations, settled debts, and properly ceased their operations, ensuring legal closure and preventing future liabilities.
