Common use of Existing Burdens Clause in Contracts

Existing Burdens. Each Party's interest under this agreement in the AMI Interests, and oil and gas leases which may be acquired thereunder, shall be subject to and burdened by its proportionate share of all existing operating agreements, existing and pending pooling and spacing orders and all Lease Burdens other than Subsequently Created Burdens. Parallel, TAC and Allegro represent that they have not burdened the Existing AMI Interests acquired or to be acquired with any liens or Subsequently Created Burdens. Each Party agrees to perform its Proportionate Share of the obligations under the AMI Interests acquired pursuant to this Agreement and the other obligations described in this Article, but only to the extent that such obligations arise after the acquisition of such AMI Interests by such Party.