The Arkansas Assignment of Production Payment Measured by Quantity of Production refers to a legal document that establishes the transfer of rights to receive payment from the sale of oil, gas, or other natural resources produced on a property. This type of assignment is typically measured by the quantity of production extracted from the property. Keywords: Arkansas, Assignment of Production Payment, Measured by Quantity of Production, natural resources, oil, gas production. There are several variations of the Arkansas Assignment of Production Payment Measured by Quantity of Production, including: 1. Fixed Quantity Assignment: This type of assignment specifies a fixed amount of production that is transferred to the assignee, regardless of the actual quantity produced. It ensures a steady and guaranteed payment for the assignee. 2. Proportional Quantity Assignment: In this variation, the assignor transfers a percentage or proportionate share of the production payment based on the total quantity of production. The assignee's payment is directly proportional to the production extracted. 3. Incremental Quantity Assignment: This type of assignment allows for a progressive increase in the assignee's payment as the quantity of production surpasses certain thresholds. For example, the assignee might receive a higher payment when production exceeds a specific volume. 4. Declining Quantity Assignment: In contrast to the incremental assignment, this variation involves a reduction in the assignee's payment as the quantity of production declines. This structure frequently applies when the production is expected to decline over time. Overall, the Arkansas Assignment of Production Payment Measured by Quantity of Production provides a framework for transferring the right to receive payment from the production of natural resources, such as oil and gas, based on the quantity of production extracted from a property. The specific type of assignment may vary based on factors such as fixed amounts, proportional shares, incremental or declining payments.
Arkansas Assignment of Production Payment Measured by Quantity of Production
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Attorney's fees. (a) A provision in a promissory note for the payment of reasonable attorney's fees, not to exceed ten percent (10%) of the amount of principal due, plus accrued interest, for services actually rendered in ance with its terms is enforceable as a contract of indemnity.
The primary collection of laws governing Arkansas procurement can be found in Title 19, Chapter 11, Subchapter 2 of the Arkansas Code Annotated titled ?Arkansas Procurement Law.? With certain exceptions, Arkansas Procurement Law applies to every State agency expenditure of public funds under any contract.
A common industry standard for primary term is three to five years, although depending on circumstances, terms of less than three years are not uncommon. This window of time is intended to allow a Lessee to explore for mineral resources before the leased mineral rights transfer back to the mineral owner.
An attorney can create a deed or assignment that conveys the mineral rights to the new owners. The original deed will need to be recorded in the county where the minerals are located. If there are producing wells on the property, each operator will need to be notified of the change in ownership.
§ 19-11-801. Architects and engineers are selected through the use of requests for qualifications or requests for proposals and may not be selected only on the basis of price. Before signing a contract with an architect or engineer, a campus or unit must comply with the following Board policies.
In compliance with Arkansas Code Annotated § 19-11-104, the State must have a copy of the anticipated Contractor's Equal Opportunity (EO) Policy prior to issuing a contract award.
The rule followed is generally known as the Strohacker Doctrine, named for the case of Missouri Pacific Railroad Co. v. Strohacker,s in which the Arkansas Supreme Court affirmed a chan- cery court decision that reservations of "coal and mineral deposits" in 1892 and 1893 deeds did not reserve the oil and gas.
State agencies, including exempt agencies, may enter into contracts which contemplate the payment of interest and late charges, but only when such late charges are incurred sixty (60) days after payment is due or carrying charges under such rules as may be promulgated by the State Procurement Director.
(A) A cooperative purchasing agreement is limited to commodities and services for which the public procurement unit may realize savings or material economic value, or both.
