Kings New York Affidavit As to Termination of Production Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• County: Kings
• 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. Kings New York Affidavit As to Termination of Production Payment is a legal document used in the state of New York to formalize the termination of production payment agreements. It is specifically designed to provide a detailed description of the termination, clarifying the rights and obligations of the parties involved. This affidavit serves as evidence that production payment obligations have ceased and can be utilized in legal proceedings or to facilitate the transfer of ownership rights. It ensures transparency and protects the interests of both parties by clarifying the terms under which the termination is taking place. Some relevant keywords related to Kings New York Affidavit As to Termination of Production Payment are: 1. Kings New York: Refers to the jurisdiction where this affidavit is applicable, specifically the state of New York. 2. Affidavit: A written statement confirmed by oath or affirmation, typically used as legal proof or evidence. 3. Termination: The act of ending or canceling an agreement, in this case, the production payment agreement, which typically involves the transfer of a portion of production revenue to an individual or entity. 4. Production Payment: A contractual arrangement between parties where a percentage of revenue generated from the sale of produced goods or services is allocated to another party. 5. Production Payment Agreement: A legally binding contract that outlines the terms and conditions of the production payment, including the duration, payment terms, and termination procedures. It is essential to note that there may not be different types of Kings New York Affidavit As to Termination of Production Payment. However, there might be variations in the specific details and circumstances related to the termination, such as termination due to breach, completion of obligations, or expiration of the production payment agreement. These variations are typically addressed within the affidavit, providing clarity to parties involved and legal authorities.

Kings New York Affidavit As to Termination of Production Payment is a legal document used in the state of New York to formalize the termination of production payment agreements. It is specifically designed to provide a detailed description of the termination, clarifying the rights and obligations of the parties involved. This affidavit serves as evidence that production payment obligations have ceased and can be utilized in legal proceedings or to facilitate the transfer of ownership rights. It ensures transparency and protects the interests of both parties by clarifying the terms under which the termination is taking place. Some relevant keywords related to Kings New York Affidavit As to Termination of Production Payment are: 1. Kings New York: Refers to the jurisdiction where this affidavit is applicable, specifically the state of New York. 2. Affidavit: A written statement confirmed by oath or affirmation, typically used as legal proof or evidence. 3. Termination: The act of ending or canceling an agreement, in this case, the production payment agreement, which typically involves the transfer of a portion of production revenue to an individual or entity. 4. Production Payment: A contractual arrangement between parties where a percentage of revenue generated from the sale of produced goods or services is allocated to another party. 5. Production Payment Agreement: A legally binding contract that outlines the terms and conditions of the production payment, including the duration, payment terms, and termination procedures. It is essential to note that there may not be different types of Kings New York Affidavit As to Termination of Production Payment. However, there might be variations in the specific details and circumstances related to the termination, such as termination due to breach, completion of obligations, or expiration of the production payment agreement. These variations are typically addressed within the affidavit, providing clarity to parties involved and legal authorities.