Operator’s Lien Sample Clauses

Operator’s Lien. RIGHT TO COLLECT FROM OIL OR GAS PURCHASER. (a) OPERATOR'S LIEN. To secure the payment of all sums due from Developer to Operator under the provisions of this Agreement the Developer grants Operator a first and preferred lien on and security interest in the following: (i) the Developer's interest in the Leases covered by this Agreement; (ii) the Developer's interest in oil and gas produced under this Agreement and its proceeds from the sale of the oil and gas; and (iii) the Developer's interest in materials and equipment under this Agreement.

Operator’s Lien. (a) The Developer hereby grants Operator a first and preferred lien on and security interest in the interest of the Developer covered by this Agreement, and in the Developer's interest in oil and gas produced and the proceeds thereof, and upon the Developer's interest in materials and equipment, to secure the payment of all sums due from Developer to Operator under the provisions of this Agreement. (b) In the event that the Developer fails to pay any amount owing hereunder by it to the Operator within the time limit for payment thereof, Operator, without prejudice to other existing remedies, is authorized at its election to collect from any purchaser or purchasers of oil or gas and retain the proceeds from the sale of the Developer's share thereof until the amount owed by the Developer, plus twelve percent (12%) interest on a per annum basis and any additional costs (including without limitation actual attorneys' fees and costs) resulting from such delinquency, has been paid. Each purchaser of oil or gas shall be entitled to rely upon Operator's written statement concerning the amount of any default.

Operator’s Lien. Operator’s heirs, executors, administrators, successors and assigns shall have a lien upon all of Renter’s personal property located within the storage unit for rent, late fees, legal fees, labor or other charges incurred pursuant to this Rental Agreement and for expenses incurred for preservation, sale, or other disposition of the personal property. Pursuant to Montana law, this lien shall have priority over all other liens except for liens that have been perfected and recorded on such personal property and tax liens. If Renter is in default for 60 days or more, Landlord may enforce Operator’s lien rights by selling ▇▇▇▇▇▇’s stored personal property. Sale of the personal property will be by commercially reasonable sale. The time, place and manner of the sale shall be consistent with Montana law. Notices prior to sale shall comport with Montana law, and include a notice of default to Renter at least 30 days prior to the sale, and a notice at least 7 days prior to the sale of the date, time, and location of the sale. In addition, Operator shall advertise such sale as required by law. Excess proceeds from such sale shall be sent to Renter at Renter’s last known address or to such other record lien holders, as their interests may exist.

Operator’s Lien. Occupant hereby grants, confirms, acknowledges and agrees that Operator and Operator’s heirs, executors, administrators, successors and assigns have a lien upon all personal property located at or upon the Space or Premises for all rent, labor and other charges, present or future, in relation to the personal property and for expenses necessary for its preservation or expenses reasonably incurred in its sale or other disposition pursuant to C.R.S. §38-21.5- 102, as amended from time to time. The lien attaches as of the date the personal property is brought to the Premises and continues so long as the Operator retains possession of the personal property and until the default is corrected, or a sale is conducted, or the property is otherwise disposed of to satisfy the lien.

Operator’s Lien. Operator is given a first and preferred lien on the interest of each party covered by this contract, and on each party's interest in oil and gas produced and the proceeds thereof, and upon each party's interest in material and equipment, to secure the payment of all sums due from each such party to Operator. In the event any party fails to pay any amount owing by it to Operator as its share of such costs and expenses or such advance estimate, Operator shall, as promptly as possible, report the emergency to the other parties. If all parties hereto cannot mutually agree upon the drilling, reworking, deepening or redrilling of any well or wells covered by this Agreement and jointly owned by all of the ▇▇▇▇ies, any party or parties wishing to drill, rework, redrill, or deepen such a well or wells may give the other parties written notice of the proposed ▇▇▇▇▇tions specifying the work to be performed, proposed depth, objective formation and the estimated cost of the operation. The parties receiving such a notice shall have ten (10) days after receipt of the notice within which to notify the parties wishing to do the work whether they elect to participate in the cost of the proposed operation. Failure of a party receiving such a notice to so reply to it within the period above fixed shall constitute an election by that party not to participate in the cost of the proposed operations. The entire cost and risk of conducting such operations shall be borne by the parties electing to participate in the proposed operation, such parties hereinafter referred to as "consenting parties" in the proportion that their respective interests bear to the total interest of all consenting parties. Consenting parties shall keep the leasehold estate involved in such operations free and clear of all liens and encumbrances of every kind created by or arising from the operations of the consenting parties. If such an operation results in a dry hole, the consenting parties shall plug and abandon the well at their sole cost, risk and expense. If any well drilled, reworked, deepened or redrilled under the provisions of this section results in a producer of oil and/or gas in paying quantities, the consenting parties shall complete and equip the well to produce at their sole cost and risk, and the well shall then be turned over to the Operator and shall be operated by it at the expense and for the account of the consenting parties. Upon commencement of operations for the drilling, reworking, ...

Operator’s Lien. 11.1 In addition to any lien, charge or security interest (collectively in this Agreement called a "lien") to which the Operator may be entitled by law, including any provided for elsewhere in this Agreement, each Participant does hereby mortgage, charge, assign and grant a security interest to and in favour of the Operator in: (1) the undivided share of Mineral Products owned or to be owned by such Participant; (2) the Participating Interest of such Participant; and (3) all personal property in any form derived directly or indirectly from any dealing with or comprised in or related to the collateral described in subparagraphs (a) and (b), or the proceeds therefrom, including insurance proceeds and any other payment representing indemnity or compensation for loss of or damage thereto or the proceeds therefrom, as security for: (4) an amount equal to any amount paid or advanced by the Operator pursuant to paragraph 4.3, together with interest thereon at the rate and calculated in the manner specified in paragraph 4.3; (5) their respective shares of the costs of a termination and liquidation under paragraph 3.6 or 10.2; and (6) a withdrawing Participant's obligations under subparagraphs 10.1(a) and (b). 11.2 Such lien in respect of a Participant who is in default of one or more of its obligations as specified in paragraph 11.1 (in this Article 11 a "Defaulting Participant") may be enforced by the Operator against the Defaulting Participant by any one or more of the following, provided that it has first given the Defaulting Participant notice of the default and, at the expiration of 30 days from the date of giving such notice, the default described therein has not been cured: (1) the sale or lease (either to one or more of the other Participants, or to a third party, but subject to Article 8, save and except for paragraph 8.2) of all or part of the Participating Interest of the Defaulting Participant for cash or on credit or partly for cash and partly on credit; (2) the sale of the Defaulting Participant's share of Mineral Products for cash or on credit or partly for cash and partly on credit, such credit to be on the terms no less favourable than those on which the Operator, acting in good faith, sells its own Mineral Products, and it is expressly acknowledged that the Operator is justified in offering discounts and other pricing and payment concessions to secure a buyer's longer term commitment to buy, or to secure other benefits from buyers; (3) the collec...

Operator’s Lien. As security for the payment of all sums due to the Operator from a party hereunder, the Operator is hereby given a lien and charge on the Mineral Products and the Participating Interest (or net smelter return royalty interest) of such party.

Operator’s Lien. Operator shall be entitled to utilize the provisions of any oil and gas lien law or other lien law of Oklahoma to enforce the obligations of Owner hereunder. Without limiting the generality of the foregoing, Operator is given a first and preferred lien on the interest of the Owner and in the Owner’s interest in oil and gas produced and the proceeds thereof and in the Owner’s interest in material and equipment, and lease hold interest including royalty and working interest to secure the payment of all sums due from the Owner to the Operator. In the event the Owner fails to pay any amount owing by it to the Operator within thirty days after the date of rendition of statements therefore, Operator, without prejudice to other existing remedies, is authorized to, at its election, to collect from the purchaser or purchasers of oil or gas, the proceeds accruing to the working interest of the Owner up to the amount owing by the Owner and each purchaser of oil or gas is authorized to rely upon Operator’s statement as to the amount owing by Owner.

Operator’s Lien. Operator has a lien on Lessee’s motorized vehicle or boat as provided by the WI Statutes Section 704.90, and shall enforce lien on motorized vehicles and boats in the event of default as provided by Department of Transportation or Department of Natural Resources regulations in effect at the time of sale.