Assignment of Production. Mortgagor does hereby absolutely and ------------------------ unconditionally assign, transfer and set over to Agent all Production which accrues to Mortgagor's interest in the Mortgaged Properties, all proceeds of such Production and all Payments in Lieu of Production (herein collectively referred to as the "Production Proceeds"), together with the immediate and continuing right to collect and receive such Production Proceeds. Mortgagor directs and instructs any and all purchasers of any Production to pay to Agent all of the Production Proceeds accruing to Mortgagor's interest until such time as such purchasers have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no purchasers of the Production shall have any responsibility for the application of any funds paid to Agent.
Appears in 3 contracts
Sources: Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co), Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co), Deed of Trust, Mortgage, Line of Credit Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (St Mary Land & Exploration Co)
Assignment of Production. Mortgagor does hereby absolutely and ------------------------ unconditionally assign, transfer and set over to Agent Mortgagee all Production which accrues to Mortgagor's interest in the Mortgaged Properties, all proceeds of such Production and all Payments in Lieu of Production (herein collectively referred to as the "Production Proceeds"), together with the immediate and continuing right to collect and receive such Production Proceeds. Mortgagor directs and instructs any and all purchasers of any Production to pay to Agent Mortgagee all of the Production Proceeds accruing to Mortgagor's interest until such time as such purchasers have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no purchasers of the Production shall have any responsibility for the application of any funds paid to AgentMortgagee.
Appears in 3 contracts
Sources: Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (Cheniere Energy Inc), Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (United States Exploration Inc), Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (United States Exploration Inc)
Assignment of Production. Mortgagor does hereby absolutely and ------------------------ unconditionally assign, transfer and set over to Agent all Production which accrues to Mortgagor's interest in the Mortgaged Properties, all proceeds of such Production and all Payments in Lieu of Production (herein collectively referred to as the "Production ProceedsPRODUCTION PROCEEDS"), together with the immediate and continuing right to collect and receive such Production Proceeds. Mortgagor directs and instructs any and all purchasers of any Production to pay to Agent all of the Production Proceeds accruing to Mortgagor's interest until such time as such purchasers have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no purchasers of the Production shall have any responsibility for the application of any funds paid to Agent.
Appears in 2 contracts
Sources: Deed of Trust, Assignment, Security Agreement, Fixture Filing and Financing Statement (Pacific Energy Resources LTD), Deed of Trust, Assignment, Security Agreement, Fixture Filing and Financing Statement (Pacific Energy Resources LTD)
Assignment of Production. Mortgagor does hereby absolutely and ------------------------ unconditionally assign, transfer and set over to Agent Mortgagee all Production which accrues to Mortgagor's interest in the Mortgaged Properties, all proceeds of such Production Production, and all Payments in Lieu of Production (herein collectively referred to as the "Production Proceeds"), together with the immediate and continuing right to collect and receive such Production Proceeds. Mortgagor directs and instructs any and all purchasers of any Production to pay to Agent Mortgagee all of the Production Proceeds accruing to Mortgagor's interest until such time as such purchasers have been furnished with evidence that all secured indebtedness has been paid and that this Mortgage has been released. Mortgagor agrees that no purchasers of the Production shall have any responsibility for the application of any funds paid to AgentMortgagee.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Delta Petroleum Corp/Co)