This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
The Louisiana Certificate of Termination of Unit is an official document that signifies the dissolution or termination of a specific unit within a larger entity or organization. It serves as evidence that the designated unit or subdivision within Louisiana has been formally dissolved and is no longer operational. This certificate is often issued when there is a need to discontinue a specific unit due to various reasons such as reorganization, restructuring, or closure of operations. It is an essential legal instrument that ensures the proper termination of the unit while complying with the relevant state laws and regulations in Louisiana. The Louisiana Certificate of Termination of Unit provides important details about the dissolved unit, including its name, identification number, and the effective date of termination. Additional information may also be included, such as any outstanding obligations or debts that should be settled before the termination process is finalized. It is crucial to note that there may be different types of Louisiana Certificate of Termination of Unit, depending on the nature of the entity or organization involved. For example, if the unit being terminated is a business entity, it may be referred to as a Louisiana Certificate of Termination of Business Unit. In the case of a nonprofit organization, it could be labeled as a Louisiana Certificate of Termination of Nonprofit Unit. Regardless of the specific name, the purpose of all these certificates remains the same — to officially recognize the termination of a unit and ensure compliance with the applicable state laws and regulations in Louisiana. In summary, the Louisiana Certificate of Termination of Unit is a legal document that confirms the dissolution or termination of a specific unit within an entity or organization. It provides important information about the dissolved unit and ensures compliance with state laws. Different types of this certificate may exist, depending on the nature of the terminated unit, such as business units or nonprofit units.
