Harris Texas Amendment to Oil and Gas Lease to Change Depository

• Category: Oil Gas and Minerals - Amendments
• State: Multi-State
• County: Harris
• Control #: US-OG-082
• Format: Word; Rich Text

Description

If it ever becomes necessary to change the depository named in a lease, this form addresses that situation. The Harris Texas Amendment to Oil and Gas Lease to Change Depository is a legal document that allows for modifications to be made to the existing lease agreement between a landowner and an oil and gas company operating in Harris County, Texas. This amendment specifically pertains to changing the depository where the funds from the lease will be held. In this designated amendment, the parties involve can agree to shift the depository from one financial institution to another, based on their mutual consent and after considering various factors such as financial stability, convenience, and any regulatory requirements. This amendment ensures that the funds acquired from the lease will be deposited into a secure and trustworthy account designated by the parties involved. Some relevant keywords associated with this topic include: 1. Harris Texas: Refers to Harris County, Texas, the specific geographical location where the lease agreement is being executed. 2. Oil and Gas Lease: The initial agreement between a landowner (lessor) and an oil and gas company (lessee) that permits the lessee to explore, extract, and produce oil and gas reserves from the lessor's property. 3. Amendment: A written modification to an existing contract or agreement, in this case, the Oil and Gas Lease. 4. Depository: The financial institution where the funds obtained from the lease are held and managed securely. 5. Landowner: The individual or entity that owns the property and is leasing it to the oil and gas company for exploration and production purposes. 6. Oil and Gas Company: The entity engaged in the exploration and extraction of oil and gas resources, known as the lessee under the lease agreement. Different types of Harris Texas Amendment to Oil and Gas Lease to Change Depository may include variations in terms of the depository institution, changes in the way funds are distributed, or even consolidating multiple lease agreements into a single depository account. These specific types can vary based on the requirements and preferences of the parties involved and may require additional details and specifications within the amendment itself.

The Harris Texas Amendment to Oil and Gas Lease to Change Depository is a legal document that allows for modifications to be made to the existing lease agreement between a landowner and an oil and gas company operating in Harris County, Texas. This amendment specifically pertains to changing the depository where the funds from the lease will be held. In this designated amendment, the parties involve can agree to shift the depository from one financial institution to another, based on their mutual consent and after considering various factors such as financial stability, convenience, and any regulatory requirements. This amendment ensures that the funds acquired from the lease will be deposited into a secure and trustworthy account designated by the parties involved. Some relevant keywords associated with this topic include: 1. Harris Texas: Refers to Harris County, Texas, the specific geographical location where the lease agreement is being executed. 2. Oil and Gas Lease: The initial agreement between a landowner (lessor) and an oil and gas company (lessee) that permits the lessee to explore, extract, and produce oil and gas reserves from the lessor's property. 3. Amendment: A written modification to an existing contract or agreement, in this case, the Oil and Gas Lease. 4. Depository: The financial institution where the funds obtained from the lease are held and managed securely. 5. Landowner: The individual or entity that owns the property and is leasing it to the oil and gas company for exploration and production purposes. 6. Oil and Gas Company: The entity engaged in the exploration and extraction of oil and gas resources, known as the lessee under the lease agreement. Different types of Harris Texas Amendment to Oil and Gas Lease to Change Depository may include variations in terms of the depository institution, changes in the way funds are distributed, or even consolidating multiple lease agreements into a single depository account. These specific types can vary based on the requirements and preferences of the parties involved and may require additional details and specifications within the amendment itself.