Owners of operating interests, the cost-bearing working interest, must bear, in addition to the risks of geological misinterpretations, mechanical failures, environmental obstructionists, and confiscatory taxation, the financial burden of nonoperating interests. The owners of nonoperating interests, in their simplest form, have no control over the decisions that dictate whether the lease that is burdened by their interest will be drilled or abandoned. Since nonoperating interests, absent contractual protection or special circumstances, expire or terminate at the same time as the lease that they are carved out of, there are thousands of sad stories of landmen and geologists who assigned a lease to an operator in exchange for an overriding royalty interest, then watched helplessly as their lease expired, without any effort on the part of the operator to develop it, only to discover that the operator had taken a new lease from the same lessor, covering the same lands, but free and clear of their overriding royalty interest. The courts have never hesitated to enforce written provisions in grants and assignments of nonoperating interests which give the owners a say in the operation of a lease.
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business organizations code. title 1. general provisions. chapter mergers, interest exchanges, conversions, and sales of assets.
subchapter a. mergers. WRITING ASSIGNMENT #1 – LEADERSHIP PHILOS. O. PHY. Daniel Goleman, the Harvard psychologist who brought Emotional Intelligence into the mainstream of business and academia, identifies the competency of accurate self-assessment as critical to a leader obtaining self-awareness.
Included in this competency is the leader behavior of. tax code. title 2. state taxation. subtitle e. sales, excise, and use taxes. chapter limited sales, excise, and use tax. subchapter a. general provisions. (1) If unit owners other than the developer own 15 percent or more of the units in a condominium that will be operated ultimately by an association, the unit owners other than the developer are entitled to elect at least one-third of the members of the board of administration of the association.
Unit owners other than the developer are entitled to elect at least a majority of the members of. 1. The slow economic recovery from the recession of forced many businesses to develop new competitive strategies to survive and increase profit.
In current business publication, find examples of these strategies and provide a detailed analysis.