Assignment of Production Clause Samples

Assignment of Production. Grantor has absolutely and unconditionally granted, assigned, transferred and conveyed, and does hereby absolutely and unconditionally grant, assign, transfer and convey unto Beneficiary all of the Hydrocarbons, less royalties payable, taxes, transportation costs, and other expenses incurred by the Grantor in the production of the Hydrocarbons, and all products obtained or processed therefrom, and the revenues and proceeds now and hereafter attributable to the Hydrocarbons and said products and all payments in lieu of the Hydrocarbons such as “take or pay” payments or settlements. The Hydrocarbons and products are to be delivered into the Pipelines and other pipe lines connected with the Mortgaged Property, or to the purchaser thereof, to the credit of Beneficiary, for its benefit and the benefit of Lenders and other holders of the Secured Debt. At any time following the occurrence of an Actionable Default, (i) Grantor agrees to perform all such acts, and to execute all such further assignments, transfers and division orders and other instruments as may be required or desired by Trustee or Beneficiary or any party in order to have said proceeds and revenues so paid to Beneficiary, and (ii) Trustee and Beneficiary are fully authorized to receive and receipt for said revenues and proceeds; to endorse and cash any and all checks and drafts payable to the order of Grantor, Trustee, or Beneficiary for the account of Grantor received from or in connection with said revenues or proceeds and to hold the proceeds thereof in a bank account as additional collateral for the Secured Debt, and to execute transfer and division orders in the name of Grantor, or otherwise, with warranties binding Grantor. Trustee and Beneficiary shall not be liable for any delay, neglect or failure to effect collection of any proceeds or to take any other action in connection therewith or hereunder; but Trustee and Beneficiary shall have the right, at their election, in the name of Grantor or otherwise, to prosecute and defend any and all actions or legal proceedings deemed advisable by Trustee or Beneficiary in order to collect such funds and to protect the interests of Trustee, Beneficiary and/or Grantor, with all costs, expenses and attorneys’ fees incurred in connection therewith being paid by Grantor. Grantor hereby appoints Beneficiary as its attorney-in-fact to pursue any and all rights of Grantor to liens on and security interests in the Hydrocarbons securing payment of proceeds of...

Assignment of Production. As further security for the payment of the Obligations and performance of each Mortgagor’s obligations under the Credit Agreement, the other Credit Documents and the Secured Transaction Documents, each Mortgagor hereby transfers, assigns, warrants and conveys to the Mortgagee for the pro rata and pari passu use and benefit of the Other Secured Persons, effective as of the date hereof, at 7:00 A.M., local time, all Hydrocarbons that are thereafter produced from and that accrue to the Mortgaged Property, and all proceeds therefrom until the Termination Date and the release or cancellation of the Mortgage. All parties producing, purchasing or receiving any such Hydrocarbons, or having such, or proceeds therefrom, in their possession for which they or others are accountable to the Mortgagee by virtue of the provisions of this Section, are authorized and directed to treat and regard the Mortgagee as the assignee and transferee of such Mortgagor and entitled in such Mortgagor’s place and stead to receive such Hydrocarbons and all proceeds therefrom; and said parties and each of them shall be fully protected in so treating and regarding the Mortgagee and shall be under no obligation to see to the application by the Mortgagee of any such proceeds or payments received by it.

Assignment of Production. Certain of the Security Instruments covering the Borrowing Base Oil and Gas Properties contain an assignment unto and in favor of Administrative Agent for the benefit of the Banks of all oil, gas and other minerals produced and to be produced from or attributable to the Borrowing Base Oil and Gas Properties together with all of the revenues and proceeds attributable to such production, and such Security Instruments further provide that all such revenues and proceeds which may be so collected by Administrative Agent for the benefit of the Banks pursuant to the assignment shall be applied to the payment of the Notes and the satisfaction of all other Indebtedness to be secured by such Security Instruments. The Borrower hereby appoints the Administrative Agent as its Administrative Agent and attorney-in-fact until this Agreement has been terminated in accordance with Section 9.19 hereof for purposes of completing the Transfer Order Letters delivered to the Administrative Agent pursuant to Section 3.01 hereof, which power is coupled with an interest and is not revocable.

Assignment of Production. As further security for the payment of the Indebtedness, Mortgagor has transferred, assigned, warranted and conveyed and does hereby transfer, assign, warrant and convey to Mortgagees, their successors and assigns, and grants to Mortgagees a security interest in, effective as of the date hereof, at 7:00 o'clock a.m., local time, all Hydrocarbons which are thereafter produced and which accrue to the Subject Interests, all products obtained or processed therefrom and all revenues and proceeds now or hereafter attributable to said Hydrocarbons and said products as well as any Liens and security interests securing any sales of said Hydrocarbons, including, but not limited to, those liens and security interests provided for in the Tex. Bus. & Com. Code Ann. ss.9.319 (Tex. UCC) (Vernon Supp. 1989), as amended. All partie▇ ▇roducing, purchasing or ▇▇▇▇▇ving any such Hydrocarbons or products, or having such Hydrocarbons, products, or proceeds therefrom in their possession for which they or others are accountable to Mortgagees by virtue of the provisions of this Article, are authorized and directed to treat and regard Mortgagees as the assignees and transferees of Mortgagor and entitled in such Mortgagor's place and stead to receive such Hydrocarbons and all proceeds therefrom; and said parties and each of them shall be fully protected in so treating and regarding Mortgagees and shall be under no obligation to see to the application by Mortgagees of any such proceeds or payments received by them; provided, however, that, until Mortgagees or Mortgagor shall have instructed such parties to deliver such Hydrocarbons and all proceeds therefrom directly to Mortgagees, (which such instructions may be given only after the occurrence and during the continuance of an Event of Default but the giving of such instructions shall as to such parties be conclusive as to the occurrence and continuance of an Event of Default) such parties shall be entitled to deliver such Hydrocarbons and all proceeds therefrom to Mortgagor to be applied in accordance with the Note Agreement. Mortgagor agrees to perform all such acts, and to execute all such further assignments, transfers and division orders, and other instruments as may be required or desired by Mortgagees or any party in order to have said revenues and proceeds so paid to Mortgagees. Mortgagees are fully authorized to receive and receipt for said revenues and proceeds, to endorse and cash any and all checks and drafts payable to t...

Assignment of Production. Absolutely assigns to Secured Party all of the severed and extracted Hydrocarbons produced from or allocated or attributed to any of the Collateral or any other interest of Debtor (whether now owned or hereafter acquired by operation of law or otherwise) in, to and under or that covers, affects or otherwise relates to the Land or to any of the estates, property rights or other interests described or referred to above, together with all of the proceeds thereof.

Assignment of Production. In order to further secure the Obligations, Mortgagor has assigned, transferred, conveyed and delivered and does hereby assign, transfer, convey and deliver unto Mortgagee, effective as of the Effective Date at 7:00 a.m. (Denver, Colorado time), U.S.A., all Hydrocarbons produced from, and which are attributable to, Mortgagor’s interest, now owned or hereafter acquired, in and to the Oil and Gas Properties, or are allocated thereto pursuant to pooling or unitization orders, agreements or designations, and all proceeds therefrom.

Assignment of Production. 5.1 In order further to secure the payment of the Secured Indebtedness, Grantor does hereby TRANSFER, ASSIGN and CONVEY unto and in favor of the holder all of the interest of Grantor in the oil, gas, casinghead gas, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and other minerals (herein collectively referred to as the "Hydrocarbons"), in and under, or which may be produced from, the Mortgaged Properties, or allocated thereto pursuant to pooling or unitization of the Leases or otherwise, together with all accounts, contract rights, general intangibles, products and proceeds arising from or derived from the sale, transfer or other disposition of such Hydrocarbons on and after the date of the execution of this Mortgage. 5.2 The foregoing assignment is made upon, and subject to, the following terms: (a) The holder may give written or telegraphic notice to all of the parties producing, purchasing, taking, possessing or receiving any such Hydrocarbons, or having in their possession any such Hydrocarbons belonging to Grantor or such proceeds for which they or others are accountable to the holder by virtue of the provisions of this Section 5.2, to hold and dispose of such Hydrocarbons for the account of the holder and to make payment of such proceeds direct to the holder at its principal office, and the holder shall thereafter receive, collect and retain, subject to the provisions of Section 5.5, as part of the Mortgaged Properties, all such Hydrocarbons, all for the benefit and further security of the Secured Indebtedness. (b) All parties producing, purchasing, taking, possessing, processing or receiving any such Hydrocarbons, or having in their possession any such Hydrocarbons or such proceeds for which they or others are accountable to the holder by virtue of the provisions of this Section 5.2, are authorized and directed by Grantor, upon receipt of notice by the holder given pursuant to Subsection 5. 2(a) above, to treat and regard the holder as the assignee and transferee of Grantor and entitled in its place and stead to receive such Hydrocarbons and proceeds; and such parties and each of them shall be fully protected in so treating and regarding the holder and shall be under an obligation to see to the application by the holder of any such proceeds received by it. Until such notice is received by such parties, payment of all proceeds attributable to such Hydrocarbons shall be payable directly to Grantor. Without in any way limiting the e...

Assignment of Production. Certain of the Security Instruments covering the Borrowing Base Oil and Gas Properties contain an assignment unto and in favor of Agent for the benefit of the Banks of all oil, gas and other minerals produced and to be produced from or attributable to the Borrowing Base Oil and Gas Properties together with all of the revenues and proceeds attributable to such production, and such Security Instruments further provide that all such revenues and proceeds which may be so collected by Agent for the benefit of the Banks pursuant to the assignment shall be applied to the payment of the Notes and the satisfaction of all other Indebtedness to be secured by such Security Instruments. The Borrower hereby appoints

Assignment of Production. Certain of the Security Instruments covering the Borrowing Base Oil and Gas Properties contain an assignment unto and in favor of the Bank of all oil, gas and other minerals produced and to be produced from or attributable to the Borrowing Base Oil and Gas Properties together with all of the revenues and proceeds attributable to such production, and such Security Instruments further provide that all such revenues and proceeds which may be so collected by the Bank pursuant to the assignment shall be applied to the payment of the Note and the satisfaction of all other Indebtedness to be secured by such