Take or Pay. Seller is not obligated, by virtue of a prepayment arrangement, a “take-or-pay” or other prepayment arrangement, a production payment, or any other arrangement, to deliver any volume of Hydrocarbons, or permit any other person to take any volume of Hydrocarbons produced from or attributable to the ▇▇▇▇▇ or Leases at some future time without then or thereafter receiving full payment therefor.
Appears in 2 contracts
Sources: Purchase and Sale Agreement (Gulfport Energy Corp), Purchase and Sale Agreement (Callon Petroleum Co)
Take or Pay. Seller is not obligated, obligated by virtue of a prepayment arrangement, a “any take-or-pay” pay payment, advance payment or other prepayment arrangement, a production similar payment, or any other arrangement, to deliver any volume of Hydrocarbons, or permit any other person to take any volume of Hydrocarbons produced from or attributable to the ▇▇▇▇▇ Properties, or Leases proceeds from the sale thereof, attributable to the Properties at some future time without then receiving payment therefor at or thereafter receiving full payment thereforafter the time of delivery that would be binding on Buyer after Closing.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Earthstone Energy Inc)
Take or Pay. Seller is not obligated, by virtue of under a prepayment arrangement, a “take-or-pay” pay or other prepayment arrangement, a production paymentsimilar arrangement to produce hydrocarbons, or any other arrangementallow hydrocarbons to be produced, to deliver any volume of Hydrocarbons, or permit any other person to take any volume of Hydrocarbons produced from or attributable to the ▇▇▇▇▇ or Leases at some future time without then or thereafter receiving full payment thereforat the time of delivery in an amount that corresponds to the Net Revenue Interest (as defined in Annex I) in the hydrocarbons attributable to an Oil and Gas Property.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Rosetta Resources Inc.)