This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
Idaho Area of Mutual Interest
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US-OG-695
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28-22-104. Legal rate of interest. (1) When there is no express contract in writing fixing a different rate of interest, interest is allowed at the rate of twelve cents (12¢) on the hundred by the year on: 1.
Idaho governs interest rates in the state through Title 28, Chapter 22 (Money of account and Interest) of Idaho Code. Section 28-22-104 of this Chapter prescribes the legal rate of interest as 12 percent per year, i.e., at the rate of twelve cents (12 cents) on the hundred by the year.
Search Idaho Statutes 28-22-105. Checks dishonored by nonacceptance or nonpayment ? Liability for interest ? Collection costs and attorney's fees.
Area of Mutual Interest (AMI): a geographic area generally defined by a contract (e.g., Farmout, JOA, JDA or similar agreement) within which two or more persons hold an interest.
The state of Idaho imposes a 12 percent limit on interest rates in most cases, although credit cards and other debt products imported from other states may have much higher rates.
An area of mutual interest (AMI) contract describes the geographic area contained in the AMI, the rights of each party (such as the percentage interest allocated to each company), the agreement's term, and how contract provisions are to be implemented.
28-22-104. LEGAL RATE OF INTEREST. (1) When there is no express con- tract in writing fixing a different rate of interest, interest is allowed at the rate of twelve cents (12¢) on the hundred by the year on: 1.
28-22-104. LEGAL RATE OF INTEREST. (1) When there is no express con- tract in writing fixing a different rate of interest, interest is allowed at the rate of twelve cents (12¢) on the hundred by the year on: 1.