This form is used when royalty owners are the owners of royalty and mineral interests in Tracts 1 and 2, subject to the terms of Lease 1 and Lease 2. Recognizing that each of the Royalty Owners may not own an Interest in both Tracts 1 and 2, or may not own an identical Interest in Tracts 1 and 2, it is their desire, together with Lessee, to pool and unitize these two Tracts for oil and gas operations.
The Bronx, a borough of New York City, is known for its urban landscape, vibrant culture, and diverse community. However, beyond its bustling streets and towering buildings, the Bronx also houses important agreements that govern the extraction of natural resources, such as the Bronx New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation. A pooling agreement refers to a legally binding contract between the lessee, who holds the right to extract minerals or resources from a particular tract of land, and the royalty owners, who are entitled to a portion of the proceeds generated from the extraction activities. In the Bronx, this pooling agreement specifically applies to two tracts of land. One crucial aspect of the Bronx New York Pooling Agreement is the depth limitation. This provision stipulates the maximum depth at which the lessee can carry out their extraction activities. By implementing a depth limitation, the agreement aims to protect the environment and prevent any potential harm caused by excessive mining or drilling. Different types of Bronx New York Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation can vary based on several factors. These may include variations in the tracts of land involved, the depth limitations set, the duration of the agreement, and the distribution of royalties among the involved parties. Overall, the Bronx New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation serves as a crucial legal framework that ensures responsible and sustainable extraction of natural resources in the Bronx. By balancing the interests of the lessee and royalty owners, while also considering environmental concerns, this agreement plays a vital role in maintaining harmony between resource extraction and the welfare of the community.The Bronx, a borough of New York City, is known for its urban landscape, vibrant culture, and diverse community. However, beyond its bustling streets and towering buildings, the Bronx also houses important agreements that govern the extraction of natural resources, such as the Bronx New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation. A pooling agreement refers to a legally binding contract between the lessee, who holds the right to extract minerals or resources from a particular tract of land, and the royalty owners, who are entitled to a portion of the proceeds generated from the extraction activities. In the Bronx, this pooling agreement specifically applies to two tracts of land. One crucial aspect of the Bronx New York Pooling Agreement is the depth limitation. This provision stipulates the maximum depth at which the lessee can carry out their extraction activities. By implementing a depth limitation, the agreement aims to protect the environment and prevent any potential harm caused by excessive mining or drilling. Different types of Bronx New York Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation can vary based on several factors. These may include variations in the tracts of land involved, the depth limitations set, the duration of the agreement, and the distribution of royalties among the involved parties. Overall, the Bronx New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation serves as a crucial legal framework that ensures responsible and sustainable extraction of natural resources in the Bronx. By balancing the interests of the lessee and royalty owners, while also considering environmental concerns, this agreement plays a vital role in maintaining harmony between resource extraction and the welfare of the community.
