This form is used by Owner to serve as notice that any proposed assignment by another owner of its interest in the Leases will be made subject to the terms of the Operating Agreement and that Owner intends to exercise the preferential purchase right provided in the Operating Agreement.
Louisiana Notice of Election to Exercise Preferential Purchase Rights Provided in Operating Agreement
Category:
State:
Multi-State
Control #:
US-OG-363
Format:
Word;
Rich Text
Instant download
Description
How to fill out Notice Of Election To Exercise Preferential Purchase Rights Provided In Operating Agreement?
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FAQ
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.
A Louisiana LLC Operating Agreement is a legal document that outlines how a Louisiana LLC will be run. Louisiana LLC Operating Agreements list all LLC owners (known as ?Members?), their contribution amounts, and their ownership interest percentages.
Access My Insurance, or AMI for short, is the key to unlocking your agencies growth.
1. n. [Oil and Gas Business] The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.
AMI refers to the coming together of parties over a defined territory though it does not necessarily mean that any of the members has already possessed a legal right on part or all of the territory.
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.
