Release Clause Clause Samples

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Release Clause. At the expiration of the primary term, or upon cessation of the continuous development program, if applicable, this lease shall ipso facto terminate as to all lands covered hereby, SAVE AND EXCEPT one hundred sixty (160) acres surrounding each oil and gas covered lease shall continue in force and effect as to the proration unit surrounding each well required to obtain such full allowable. Lessee shall, within thirty (30) days after the expiration of this lease or parts hereof, file of record in the office of the County Clerk of Webb ▇▇▇nty, Texas, an instrument releasing this lease insofar as said lease has terminated, specifically describing by metes and bounds or other proper legal description the retained unit for each producing well and the depth which may be retained by Lessee thereunder. In the event Lessee shall fail to either designate a unit or units or fail to release acreage and/or horizons of record within sixty (60) days after the expiration of this lease by Lessee filing such designation or release in the Office of the County Clerk of Webb ▇▇▇nty, Texas, then Lessors shall notify the Lessee of its failure and if within thirty (30) days of the date of such written notice by certified mail to Lessee, Lessee does not designate unit or units or release the acreage or horizons by filing a proper instrument in the Office of the County Clerk of Webb ▇▇▇nty, Texas, then Lessor shall make the designation of unit or units or release of acreage and/or horizons by filing the instrument designating the unit or units or release of acreage and/or horizons in the Office of the County Clerk of Webb ▇▇▇nty, Texas, and such designation and/or release by Lessors shall be binding upon the Lessees. 8 At such time as a partial termination of this lease occurs under the provisions of this paragraph, each such retained unit as to which said lease has not terminated shall be considered as a separately leased tract, in the same manner as if Lessor had executed separate and distinct leases covering each such retained unit. Lessee shall not be obligated to protect against drainage, if any, between and among "separately leased tracts". Notwithstanding a partial termination of this lease under the above provisions, it is agreed that Lessee shall have and retain such easements of ingress and egress over those lands originally covered hereby as shall be necessary to enable Lessee to develop and operate the portion or portions of this lease then in effect for the production o...
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Release Clause. The School Administration of Saint ▇▇▇▇▇▇▇ School, in consultation with the Pastor and the School Board of Education, reserves the right to amend this handbook when circumstances warrant it. Parents will be promptly notified, in writing, of any such amendment, which will simultaneously be promulgated in an announcement to all students. ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇  Harrisburg  Pennsylvania 17111-3710 (▇▇▇) ▇▇▇-▇▇▇▇ • FAX (▇▇▇) ▇▇▇-▇▇▇▇  ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇
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Release Clause. ARTIST will be granted a release from contracted date with written or faxed notice (With respect but not limited to 30 Days Notice) for the purpose of furthering the ARTIST’s career such as but not limited to the following: TV, movie, concert tours, videotaping, and record promotion. Should ARTIST cancel all monies received will be returned. Should ARTIST cancel performance for reasons beyond their control he/or she shall not incur any liability from such failure but shall make all reasonable efforts to remedy such default or return all monies unearned with no further cost or penalty to either party.
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Release Clause. At the request of the buyer, the seller undertakes to release the securities to which he is entitled according to the above conditions at his discretion if the realisable value of the securities exceeds the claims to be secured by more than 20%.
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Release Clause. After FY 2023, San Juan County may terminate this contract without penalty or repercussions if annual appropriations, as part of San Juan County’s annual public budgeting process, are not made or are insufficient to pay the Service Provider.
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Related to Release Clause

  • WAIVER CLAUSE The parties acknowledge that during the negotiations which resulted in this Agreement, each had the unlimited right and opportunity to make demands and proposals with respect to any subject matter not removed by law from the area of collective bargaining, and that the understandings and agreements arrived at by the parties after the exercise of that right and opportunity are set forth in the Agreement. Therefore, the Employer and the Association, for the life of this Agreement, each voluntarily and unqualifiedly waives the right and each agrees that the other shall not be obligated to bargain collectively with respect to any subject or matter not specifically referred to or covered in this Agreement, even though such subjects or matters may not have been within the knowledge or contemplation of either or both of the parties at the time that they negotiated or signed this Agreement.

  • Mortgage Clause 1. If a mortgagee is named in this policy, any loss payable under Coverage A or B will be paid to the mortgagee and you, as interests appear. If more than one mortgagee is named, the order of payment will be the same as the order of precedence of the mortgages. 2. If we deny your claim, that denial will not apply to a valid claim of the mortgagee, if the mortgagee: a. Notifies us of any change in ownership, occupancy or substantial change in risk of which the mortgagee is aware; b. Pays any premium due under this policy on demand if you have neglected to pay the premium; and c. Submits a signed, sworn statement of loss within 60 days after receiving notice from us of your failure to do so. Paragraphs F. Appraisal, H. Suit Against Us and J. Loss Payment under Section I – Conditions also apply to the mortgagee. 3. If we decide to cancel or not to renew this policy, the mortgagee will be notified at least 4. If we pay the mortgagee for any loss and deny payment to you: a. We are subrogated to all the rights of the mortgagee granted under the mortgage on the property; or b. At our option, we may pay to the mortgagee the whole principal on the mortgage plus any accrued interest. In this event, we will receive a full assignment and transfer of the mortgage and all securities held as collateral to the mortgage debt. 5. Subrogation will not impair the right of the mortgagee to recover the full amount of the mortgagee's claim.

  • Fall Clause 7.1 The BIDDER undertakes that it has not supplied/is not supplying similar product/systems or subsystems at a price lower than that offered in the present bid in respect of any other Ministry/Department of the Government of India or PSU and if it is found at any stage that similar product/systems or sub systems was supplied by the BIDDER to any other Ministry/Department of the Government of India or a PSU at a lower price, then that very price, with due allowance for elapsed time, will be applicable to the present case and the difference in the cost would be refunded by the BIDDER to the BUYER, if the contract has already been concluded.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.