This form is used to resolve any question as to how royalty is to be paid to the Parties in the event of production, under the Lease, on any part of the Lands. The Parties are entering into this Agreement to stipulate and agree to the ownership of each Party's respective share of the royalty reserved in the Lease payable for production attributable to their Interests from a well located anywhere on the Lands.
The Lima Arizona Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal document that outlines the terms and conditions related to the payment of nonparticipating royalty for segregated tracts under an oil and gas lease in Lima, Arizona. This agreement is designed to ensure that nonparticipating royalty owners receive fair compensation for the extraction of oil and gas resources from their tracts, even if they are not actively involved in the operations. It establishes a clear framework for determining the royalty amount and the payment schedule. Under this agreement, there may be different types of segregation or tracts covered by the oil and gas lease, each with its own specific terms and conditions. These tracts could be categorized based on factors like location, geological characteristics, or ownership. The agreement may also address any variations or distinctions between these tracts and provide guidelines for the calculation and distribution of nonparticipating royalties specific to each segregated tract. Keywords: Lima Arizona Agreement, governing payment, nonparticipating royalty, segregated tracts, oil and gas lease. Different types of Lima Arizona Agreements Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may include: 1. Lima Arizona Agreement Type A: Segregated Tracts by Ownership — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on individual ownership rights. 2. Lima Arizona Agreement Type B: Segregated Tracts by Location — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on their geographical location within Lima, Arizona. 3. Lima Arizona Agreement Type C: Segregated Tracts by Geological Characteristics — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on specific geological features or formations present in the area. 4. Lima Arizona Agreement Type D: Segregated Tracts by Size or Acreage — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on their size or acreage within Lima, Arizona. It is important to note that the specific types of Lima Arizona Agreements may vary, depending on the intricacies of the oil and gas lease arrangements and the specific needs and conditions in Lima, Arizona.The Lima Arizona Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal document that outlines the terms and conditions related to the payment of nonparticipating royalty for segregated tracts under an oil and gas lease in Lima, Arizona. This agreement is designed to ensure that nonparticipating royalty owners receive fair compensation for the extraction of oil and gas resources from their tracts, even if they are not actively involved in the operations. It establishes a clear framework for determining the royalty amount and the payment schedule. Under this agreement, there may be different types of segregation or tracts covered by the oil and gas lease, each with its own specific terms and conditions. These tracts could be categorized based on factors like location, geological characteristics, or ownership. The agreement may also address any variations or distinctions between these tracts and provide guidelines for the calculation and distribution of nonparticipating royalties specific to each segregated tract. Keywords: Lima Arizona Agreement, governing payment, nonparticipating royalty, segregated tracts, oil and gas lease. Different types of Lima Arizona Agreements Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may include: 1. Lima Arizona Agreement Type A: Segregated Tracts by Ownership — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on individual ownership rights. 2. Lima Arizona Agreement Type B: Segregated Tracts by Location — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on their geographical location within Lima, Arizona. 3. Lima Arizona Agreement Type C: Segregated Tracts by Geological Characteristics — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on specific geological features or formations present in the area. 4. Lima Arizona Agreement Type D: Segregated Tracts by Size or Acreage — This type of agreement governs the payment of nonparticipating royalty for segregated tracts based on their size or acreage within Lima, Arizona. It is important to note that the specific types of Lima Arizona Agreements may vary, depending on the intricacies of the oil and gas lease arrangements and the specific needs and conditions in Lima, Arizona.