Each of the royalty owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement as if the original of that Agreement had been signed; and, each of the working interest owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement and the Unit Operating Agreement.
Oklahoma Joinder to Unit Operating Agreement and / or Unit Agreement
State:
Multi-State
Control #:
US-OG-731
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Joinder To Unit Operating Agreement And / Or Unit Agreement?
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FAQ
Unit Operating Agreement means any operating or unit agreement to which a Company is a party or by which it is legally or contractually bound governing oil and gas drilling, completion, and other operations and related activities in any Unit.
An agreement joining a person as party to another agreement as if such person was an original party to such agreement. Joinder agreements are commonly used when new stockholders or LLC members receive equity and are made party to an existing stockholders' agreement or LLC agreement.
Joinder of claims Claimants may bring new claims even if the new claims are not related to the claims already stated; for example, a plaintiff suing someone for breach of contract may also sue the same person for assault. The claims may be unrelated, but they may be joined if the plaintiff desires.
A joinder is intended to be a simple document whose sole effect is to add an additional person or entity as a party to the original agreement and bind them to the terms of that agreement in their entirety.
A joinder agreement can be a standalone document or included as an exhibit to the LLC's operating agreement. Using this type of agreement, a new member can be admitted as part of the LLC operating agreement and will be bound to its terms.
: a joining of two claims in one action even though one cannot be recognized until the other is resolved. ;specif. : the combination of legal and equitable claims in one action when a fraudulent conveyance must first be set aside legally before equitable relief can be granted to a creditor.