New York Affidavit As to Termination of Production Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-171
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This affidavit form is used when the Production Payment is deemed to have been satisfied and no longer burdens the Oil and Gas Leases on the Land. A New York Affidavit As to Termination of Production Payment is a legal document used in the state of New York to terminate a production payment. This affidavit serves as evidence that the existing production payment agreement between two parties has been terminated. In New York, there are several types of Affidavits As to Termination of Production Payment that can be utilized: 1. Voluntary Termination: This type of affidavit is used when both parties involved in the production payment agreement decide to mutually terminate the agreement. It requires the signature of all relevant parties, stating their consent to terminate the production payment. 2. Termination Due to Breach: This type of affidavit is employed when one party violates the terms and conditions outlined in the production payment agreement. The non-breaching party can use this affidavit as evidence to terminate the agreement, seeking legal remedies for the breach. 3. Termination by Court Order: In some cases, a court may issue an order to terminate a production payment agreement due to various reasons such as non-performance, violation of laws, or fraudulent activities. A New York Affidavit As to Termination of Production Payment can be submitted to the court as supporting evidence for the termination. 4. Termination by Expiration: A production payment agreement may have a specified time period, after which it automatically terminates without the need for additional action. In such cases, parties can execute an affidavit to confirm the termination by expiration as per the terms stated in the original agreement. The New York Affidavit As to Termination of Production Payment includes key information such as the names of the parties involved, the date of the original production payment agreement, and the specific provisions or clauses that led to the termination. It also includes a statement attesting to the termination's validity and legal effect. Overall, a New York Affidavit As to Termination of Production Payment is a crucial legal document utilized to terminate a production payment agreement in the state of New York. Different types of termination affidavits can be used depending on the circumstances of the termination, including voluntary termination, termination due to breach, termination by court order, and termination by expiration.

A New York Affidavit As to Termination of Production Payment is a legal document used in the state of New York to terminate a production payment. This affidavit serves as evidence that the existing production payment agreement between two parties has been terminated. In New York, there are several types of Affidavits As to Termination of Production Payment that can be utilized: 1. Voluntary Termination: This type of affidavit is used when both parties involved in the production payment agreement decide to mutually terminate the agreement. It requires the signature of all relevant parties, stating their consent to terminate the production payment. 2. Termination Due to Breach: This type of affidavit is employed when one party violates the terms and conditions outlined in the production payment agreement. The non-breaching party can use this affidavit as evidence to terminate the agreement, seeking legal remedies for the breach. 3. Termination by Court Order: In some cases, a court may issue an order to terminate a production payment agreement due to various reasons such as non-performance, violation of laws, or fraudulent activities. A New York Affidavit As to Termination of Production Payment can be submitted to the court as supporting evidence for the termination. 4. Termination by Expiration: A production payment agreement may have a specified time period, after which it automatically terminates without the need for additional action. In such cases, parties can execute an affidavit to confirm the termination by expiration as per the terms stated in the original agreement. The New York Affidavit As to Termination of Production Payment includes key information such as the names of the parties involved, the date of the original production payment agreement, and the specific provisions or clauses that led to the termination. It also includes a statement attesting to the termination's validity and legal effect. Overall, a New York Affidavit As to Termination of Production Payment is a crucial legal document utilized to terminate a production payment agreement in the state of New York. Different types of termination affidavits can be used depending on the circumstances of the termination, including voluntary termination, termination due to breach, termination by court order, and termination by expiration.