This form is used when an Agent declares and acknowledges that the consideration for an Assignment should accrue to the benefit of Principal, and that Principal is the owner of the reserved interest in the Assignment. To give effect to declaration, Agent, as Assignor, grants, sells, and assigns to Principal, as Assignee, all of Agent's interest in the Lease and the interest reserved by Agent in the Assignment.
Houston Texas Declaration That Oil and Gas Lease Was Acquired by Agent For Principal is a legal document that outlines the acquisition of an oil and gas lease on behalf of a principal by an agent in Houston, Texas. This declaration is crucial for establishing the rights and responsibilities of all parties involved in the lease agreement. The declaration provides a detailed description of the lease acquisition process, including the roles and responsibilities of the agent and principal. It outlines the terms and conditions of the lease, such as the duration, payment terms, royalty percentages, and any specific agreements made between the parties. Keywords: 1. Houston, Texas: This declaration pertains specifically to lease acquisition in Houston, Texas, indicating the geographical location where the lease agreement is applicable. 2. Declaration: This document serves as an official declaration, providing a clear statement of the agent's acquisition of an oil and gas lease on behalf of the principal. 3. Oil and Gas Lease: This declaration refers to the specific type of lease agreement being acquired, specifically for oil and gas exploration and extraction purposes. 4. Agent: The agent is the individual or entity who acts on behalf of the principal to acquire the lease agreement. They are responsible for representing the principal's interests and fulfilling their obligations. 5. Principal: The principal refers to the individual or entity that grants authority to the agent to acquire the oil and gas lease. They retain ownership of the lease and are entitled to the benefits and obligations outlined in the agreement. 6. Lease Acquisition: This term highlights the process of acquiring the lease, which involves negotiations, contractual agreements, and fulfilling legal requirements to secure the rights to explore and extract oil and gas resources. 7. Legal Document: The declaration is a legally binding document that establishes the rights and obligations of both the agent and principal concerning the acquired oil and gas lease. Different types of Houston Texas Declaration That Oil and Gas Lease Was Acquired by Agent For Principal may include variations based on specific terms and conditions agreed upon by the parties involved. These variations could include factors such as lease duration, payment structures, royalty percentages, and any additional provisions specific to the oil and gas industry or the geographical location of the lease.Houston Texas Declaration That Oil and Gas Lease Was Acquired by Agent For Principal is a legal document that outlines the acquisition of an oil and gas lease on behalf of a principal by an agent in Houston, Texas. This declaration is crucial for establishing the rights and responsibilities of all parties involved in the lease agreement. The declaration provides a detailed description of the lease acquisition process, including the roles and responsibilities of the agent and principal. It outlines the terms and conditions of the lease, such as the duration, payment terms, royalty percentages, and any specific agreements made between the parties. Keywords: 1. Houston, Texas: This declaration pertains specifically to lease acquisition in Houston, Texas, indicating the geographical location where the lease agreement is applicable. 2. Declaration: This document serves as an official declaration, providing a clear statement of the agent's acquisition of an oil and gas lease on behalf of the principal. 3. Oil and Gas Lease: This declaration refers to the specific type of lease agreement being acquired, specifically for oil and gas exploration and extraction purposes. 4. Agent: The agent is the individual or entity who acts on behalf of the principal to acquire the lease agreement. They are responsible for representing the principal's interests and fulfilling their obligations. 5. Principal: The principal refers to the individual or entity that grants authority to the agent to acquire the oil and gas lease. They retain ownership of the lease and are entitled to the benefits and obligations outlined in the agreement. 6. Lease Acquisition: This term highlights the process of acquiring the lease, which involves negotiations, contractual agreements, and fulfilling legal requirements to secure the rights to explore and extract oil and gas resources. 7. Legal Document: The declaration is a legally binding document that establishes the rights and obligations of both the agent and principal concerning the acquired oil and gas lease. Different types of Houston Texas Declaration That Oil and Gas Lease Was Acquired by Agent For Principal may include variations based on specific terms and conditions agreed upon by the parties involved. These variations could include factors such as lease duration, payment structures, royalty percentages, and any additional provisions specific to the oil and gas industry or the geographical location of the lease.
