Delay Rentals Clause Samples

Delay Rentals. Upon receipt of a joint interest billing therefore, Universal further agrees to pay and/or reimburse Yuma for Ten and No/100ths percent (10.00%) of any delay rentals that must be paid pursuant to the terms of the Leases in order to maintain such Leases in force and effect until such time as the Initial Test Well is drilled to Casing Point. Thereafter, the payment of delay rentals under the terms and provisions of the Leases will be governed by the terms, provisions and conditions of the Operating Agreement.

Delay Rentals. 10.1. Until a Lease included in the Farmout Lands is assigned in whole or in part to Laramie, Dejour/Brownstone shall use its reasonable efforts to pay all delay rentals required to maintain the lease(s) in effect. After a Lease has been assigned in whole or in part to Laramie, the responsibility for making delay rental payments shall belong to Laramie, and within 15 days after receipt of an invoice from Laramie, Dejour/Brownstone shall promptly reimburse Laramie for Dejour/Brownstone's share of the delay rentals paid. Each Party shall not be liable to the other Party in damages or otherwise for failure to properly pay any rentals and shut-in payments where such failure was due to clerical error, inadvertence or mistake. Each Party shall provide evidence to the other Party at least 30 days in advance of any due date for delay rentals required to maintain a Lease in effect.

Delay Rentals. If no production from a groundwater supply well is commenced by Lessee on the Premises within five (5) years of the Effective Date of the Lease, the Lease shall terminate automatically and all rights hereunder will revert to Lessor, unless on or before such date Lessee pays to Lessor the sum of Five Thousand Dollars and NO / 100 ($5,000.00) (the “Delay Rentals”), which shall cover the privilege of deferring commencement of water production operations for a period of one (1) year from said date. In a similar way and upon like payments tendered annually by Lessee, the commencement of production from a ground water supply well may be further deferred for four additional one (1) year delay rental periods extending for no more than ten (l0) years from the Effective Date of the Lease.

Delay Rentals. If no well is commenced on the leased premises on or before one (1) year from this date, this lease shall terminate, unless on or before such anniversary date Lessee shall pay or tender to the owner of the soil or to his credit in the

Delay Rentals. During the term of this Agreement and prior to the effective date of any Operating Agreement covering a Prospect executed by the Parties, El Paso shall pay or tender (or cause to be paid or tendered) all rentals, minimum royalties and other lease maintenance payments, if any, which may hereafter become due under the terms of the said leases covered by this Agreement in such Prospect, but shall have no liability to Participant for failure to make any such payment or tender or to make same timely or properly, unless such failure is due to the gross negligence or willful misconduct of El Paso. Prior to such effective date, El Paso will be responsible for all rental costs on the Leases within such Prospect without reimbursement from Participant. After such effective date, all rentals on the Leases within such Prospect will be paid and reimbursed in accordance with the terms of the respective Operating Agreements.

Delay Rentals. This Lease is considered fully paid up and requires no delay rentals, notwithstanding anything contained to the contrary herein.

Delay Rentals. Minimum Royalties, and Shut-in Gas Payments. IOGW shall ---------------------------------------------------------- use reasonable commercial efforts to pay or cause to be paid in a proper and timely manner all delay rentals, minimum royalties, and shut-in gas payments which may be necessary to maintain its leases in the Contract Area in full force and effect, except to the extent that IOGW has decided to dispose of or abandon such leases. Notwithstanding anything to the contrary herein, IOGW shall not be liable to any Service Party for failure to pay or for incorrect payment of delay rentals, minimum royalties, shut-in gas payments, or any other contractual obligations.

Delay Rentals. GSEI represents that the Leases are in full force and effect, and further represent that all of the terms and provisions of, and all of the obligations under, the Leases have been complied with in all material respects including, but not limited to, the proper and timely payment of all delay rentals or other obligations necessary to maintain the Leases. Upon request evidence reflecting proper and timely payment of such delay rentals shall be provided to Delek. From and after the Effective Date of this Agreement the Parties shall pay, or cause to be paid, any delay rentals that become due under a Lease, as to periods from and after the Effective Date, in order to continue the Leases in full force and effect, and the Parties shall, within thirty (30) days after receipt of an invoice from the Operator, reimburse the Operator for its working interest share (for example, 75% as to Delek as opposed to the 90% carry) of any such delay rental payment covering the period from and after the Effective Date of this Agreement. Notwithstanding anything to the contrary set forth in this Agreement or in any Joint Operating Agreement, from and after the time that a Party (i) elects not to participate in the drilling of an Exploratory Well on a Phase II Prospect, Phase III Prospect or a Subsequent Phase Prospect or (ii) elects to withdraw from a Prospect, thereafter such Party shall have no liability or responsibility for any portion of lease maintenance payments, including, without limitation, delay rentals, with respect to the Leases associated with any such Prospects.

Delay Rentals. If no well is commenced on the Leased Premises on or before one (1) year from the effective date, this lease shall terminate, unless on or before such anniversary date Lessee shall pay to the owner of the soil or to his credit in the Bank, at or its successors (which shall continue as the depository regardless of changes in the ownership of said land), the amount specified below; in addition, Lessee shall pay to the COMMISSIONER OF THE GENERAL LAND ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, a like sum on or before said date. Payments under this paragraph shall operate as a rental and shall cover the privilege of deferring the commencement of a well for one (1) year from said date. Payments under this paragraph shall be in the following amounts: