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 Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the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 Texas Certificate of Termination of Unit is a legal document that officially signifies the termination or dissolution of a unit within an organization or business entity in the state of Texas. This certificate is an essential requirement for closing or winding up an entity to ensure legal compliance. The Certificate of Termination of Unit serves as proof that the unit or division within an organization has undergone the necessary procedures to terminate its operations. It is often filed with the Texas Secretary of State or other relevant authorities to notify them about the closure and to update the official records. The certificate includes various important details that outline the termination process. This typically includes the name of the organization, the specific unit or division being terminated, the effective date of termination, and any additional information that may be required by the governing authorities. These details help ensure accurate record-keeping and prevent any potential legal complications in the future. Depending on the type of organization or business entity, there may be different types of Texas Certificates of Termination of Unit. For instance, in limited liability companies (LCS), the certificate could be referred to as the "Certificate of Termination of Limited Liability Company Unit" or simply the "LLC Unit Termination Certificate." In partnerships or corporations, it may be named differently, such as the "Certificate of Termination of Partnership Unit" or the "Corporation Unit Termination Certificate." The specific title of the certificate might differ based on the type of organization or unit being terminated, but the underlying purpose remains the same across different entities — to legally confirm the termination and provide a formal record of the process in compliance with Texas state laws. In conclusion, the Texas Certificate of Termination of Unit is a vital legal document that signifies the dissolution of a specific unit within an organization or business entity. Its purpose is to notify relevant authorities about the termination, update official records, and ensure compliance with state regulations. While the exact title may vary based on the type of organization, the certificate's objective remains constant.
