Production Contracts Clause Samples
A Production Contracts clause defines the terms and conditions under which goods or services are to be produced for a party, typically outlining responsibilities, timelines, quality standards, and payment arrangements. This clause may specify the scope of work, delivery schedules, and remedies for delays or defects, ensuring both parties understand their obligations during the production process. Its core function is to provide a clear framework for the production relationship, minimizing misunderstandings and disputes by setting expectations and procedures in advance.
Production Contracts. Except as set forth in Schedule "E", there are no production sales agreements or arrangements under which it, or any Person acting on its behalf, is obligated to sell or deliver Petroleum Substances allocable to the Petroleum and Natural Gas Rights to any Person, other than contracts which are terminable on less than thirty-two (32) days' notice;
Production Contracts. Corporate Inventory
Production Contracts. Those covering the rendition of services by production personnel.
Production Contracts. Vendor is not a party to and Vendor's interest in and to the Assets is not otherwise bound or affected by any (i) production sales contracts pertaining to Leased Substances, (ii) gas balancing or similar agreements pertaining to Leased Substances, (iii) agreements for the transportation, processing or disposal of Leased Substances, (iv) agreements for the contract operation of the Assets or any of them, or (v) agreements to provide transportation, processing or disposal capacity or service to any Person;
Production Contracts. All contracts for personnel, studio hire, purchase of goods and services, laboratory work and all other licenses, contracts and obligations in connection with the production of the Pilot by Service Company, shall be made and entered into by Service Company in its own name as principal and not as agent for York and no obligations whatsoever shall be imposed upon York thereunder. All such contracts or undertakings shall be consistent with the provisions of this Agreement and industry custom and practice. Such contracts and undertakings shall not be terminated, canceled, modified or rescinded in any manner without York’s prior written consent. All such contracts shall be assignable to York without restriction.
Production Contracts. Except as set forth on Schedule 4.29, Seller’s interests in the Assets are not subject to any Contract for the sale of the Production attributable to periods after the Effective Time, other than Contracts that may be terminated by not more than thirty (30) days prior written notice. Except as set forth on Schedule 4.29, Seller’s interests in the Assets are not subject to or burdened by any obligation under a sales, take-or-pay, gas balancing, marketing, hedging, forward sale or similar arrangement, to deliver the Production attributable to such interest in the Assets without receiving payment at the time of or subsequent to delivery, or to deliver the Production in the future for which payment has already been received (e.g., a “forward” sale contract).
Production Contracts. The Company shall have entered into and duly registered a Production Contract with the Competent Authority for production of Petroleum at each of Kariman, Dolinnoe and Askaz in compliance with the Section 8.1(c).
Production Contracts. Buyer and Seller shall execute and deliver, or cause their respective Affiliates to execute and deliver, the following production agreements (the “Production Contracts”):
(a) an Operating Agreement in substantially the form of Exhibit “K” (the “Operating Agreement”), to be executed and delivered on the Closing Date; and
(b) Upon the drilling of a successful well on the Exploration Leases and after the owners of such well(s) propose to tie-back and develop production from the Exploration Leases to the Pompano Platform, Buyer and Seller agree to negotiate in good faith a mutually acceptable Production Handling Agreement (“PHA”) for the handling and processing of production from such well(s). Each of such PHA’s terms shall be no less favorable to Seller than the then market rates and terms prevailing for the Pompano Platform area and shall afford to Seller the same treatment as is afforded to Buyer’s and its Affiliates’ production from such ▇▇▇▇▇ (including with respect to cost and type of service) such that Buyer (and its Affiliates) do not gain an economic advantage over Seller, and such PHA shall be subject to (i) the approval of any Third Party Pompano Platform owner, (ii) the then available processing capacity of the Pompano Platform and (iii) the then available Pompano Platform space required for the dedicated topside equipment and facilities to handle the Exploration Lease production.
Production Contracts. Except as set forth in the Disclosure Schedule, Seller’s interests in the Oil and Gas Properties are not subject to any contract for the sale of the Production attributable to periods after the Effective Time, other than contracts that may be terminated by not more than sixty (60) days prior written notice. Except as set forth in the Disclosure Schedule, Seller’s interests in the Oil and Gas Properties are not subject to or burdened by any obligation under a sales, take-or-pay, gas balancing, marketing, hedging, forward sale or similar arrangement, to deliver the Production attributable to such interest in the Oil and Gas Properties without receiving payment at the time of or subsequent to delivery, or to deliver the Production in the future for which payment has already been received (e.g., a “forward” sale contract).
Production Contracts. Seller is not a party to and Seller's interest in and to the Assets is not otherwise bound or affected by any (i) production sales contracts pertaining to Leased Substances, (ii) gas balancing or similar agreements pertaining to Leased Substances, (iii) agreements for the transportation, processing or disposal of Leased Substances, (iv) agreements for the contract operation of the Transferred Assets or any of them, or (v) agreements to provide transportation, processing or disposal capacity or service to any person.