Salt Lake Utah Management Agreement between The Wiser Oil Co. and Wiser Investment Co., LLC

• Category: Corporations - Public - Management
• State: Multi-State
• County: Salt Lake
• Control #: US-EG-9411
• Format: Word; Rich Text

Description

Management Agreement between The Wiser Oil Company and Wiser Investment Company, LLC regarding management services dated 00/00. 6 pages. The Salt Lake Utah Management Agreement is a legally binding contract between The Wiser Oil Co. and Wiser Investment Co., LLC, which establishes the terms and conditions for managing various aspects of their joint operations in the Salt Lake area. This agreement outlines the rights, responsibilities, and obligations of both parties involved. Key terms and provisions of the Salt Lake Utah Management Agreement include: 1. Purpose: The agreement states the purpose for which it is being executed, which is generally to establish a working relationship between The Wiser Oil Co. and Wiser Investment Co., LLC for the efficient management of their joint assets and operations in Salt Lake, Utah. 2. Scope of Operations: The agreement defines the specific activities and operations that fall under the management of both parties. This may include exploration, development, production, and marketing of oil and gas resources in the Salt Lake area. 3. Rights and Obligations: The agreement elucidates the rights and obligations of each party involved. It clarifies the extent of authority and responsibilities, such as decision-making powers, financial contributions, reporting requirements, and operational guidelines. 4. Financial Arrangements: The Salt Lake Utah Management Agreement also addresses financial aspects, including the sharing of costs, revenues, and expenses related to the operations. Both parties agree on a specific allocation or sharing mechanism to ensure equitable distribution of profits and costs incurred. 5. Term and Termination: The agreement specifies the duration of the agreement, typically with a defined initial term, and provisions for renewal or termination. It outlines the conditions under which either party can terminate the agreement, such as breach of contract, insolvency, or non-performance. 6. Dispute Resolution: In case of disputes arising from the management agreement, a mechanism for resolution is outlined. This may include alternative dispute resolution methods like mediation or arbitration, to ensure a fair and timely resolution. It is important to note that while there may be different types of Salt Lake Utah Management Agreements between The Wiser Oil Co. and Wiser Investment Co., LLC, the specific names or categories would depend on the variations in terms and conditions unique to each agreement. These might include different operating areas, project-specific agreements, or agreements pertaining to different stages of operations such as exploration or production.

The Salt Lake Utah Management Agreement is a legally binding contract between The Wiser Oil Co. and Wiser Investment Co., LLC, which establishes the terms and conditions for managing various aspects of their joint operations in the Salt Lake area. This agreement outlines the rights, responsibilities, and obligations of both parties involved. Key terms and provisions of the Salt Lake Utah Management Agreement include: 1. Purpose: The agreement states the purpose for which it is being executed, which is generally to establish a working relationship between The Wiser Oil Co. and Wiser Investment Co., LLC for the efficient management of their joint assets and operations in Salt Lake, Utah. 2. Scope of Operations: The agreement defines the specific activities and operations that fall under the management of both parties. This may include exploration, development, production, and marketing of oil and gas resources in the Salt Lake area. 3. Rights and Obligations: The agreement elucidates the rights and obligations of each party involved. It clarifies the extent of authority and responsibilities, such as decision-making powers, financial contributions, reporting requirements, and operational guidelines. 4. Financial Arrangements: The Salt Lake Utah Management Agreement also addresses financial aspects, including the sharing of costs, revenues, and expenses related to the operations. Both parties agree on a specific allocation or sharing mechanism to ensure equitable distribution of profits and costs incurred. 5. Term and Termination: The agreement specifies the duration of the agreement, typically with a defined initial term, and provisions for renewal or termination. It outlines the conditions under which either party can terminate the agreement, such as breach of contract, insolvency, or non-performance. 6. Dispute Resolution: In case of disputes arising from the management agreement, a mechanism for resolution is outlined. This may include alternative dispute resolution methods like mediation or arbitration, to ensure a fair and timely resolution. It is important to note that while there may be different types of Salt Lake Utah Management Agreements between The Wiser Oil Co. and Wiser Investment Co., LLC, the specific names or categories would depend on the variations in terms and conditions unique to each agreement. These might include different operating areas, project-specific agreements, or agreements pertaining to different stages of operations such as exploration or production.