This form is used when an Assignor transfers and assigns to Assignee all of Assignors rights, title, and interests in and to the described oil and gas lease or leases only insofar as the Leases cover and include the oil, gas, casinghead gas and other liquid, gaseous or vaporous substances in, under, and which may be produced from the described lands.
San Jose California Term Assignment and Agreement for Nonproducing Portion of HBP Leases is a legal contract that pertains to the nonproducing portion of Held By Production (HBP) leases in the San Jose region of California. This agreement is designed to address the transfer or assignment of the term rights associated with the nonproducing portion of these leases. HBP leases are typically issued by oil and gas companies and allow them to retain the lease rights beyond the primary lease term if the lessee is able to establish production from a well on the leased premises. However, there may be instances where a portion of the leased premises remains nonproducing. The San Jose California Term Assignment and Agreement for Nonproducing Portion of HBP Leases outlines the terms and conditions under which the lessee can transfer or assign the rights to the nonproducing portion of the lease to another party. It covers various aspects such as definitions, representations, warranties, obligations, and the termination of the agreement. Keywords: San Jose California, Term Assignment, Agreement, Nonproducing Portion, HBP Leases, transfer, assignment, legal contract, lease rights, oil and gas companies, primary lease term, lessee, production, nonproducing portion, premises, transfer, assign, representations, warranties, obligations, termination. Different types of San Jose California Term Assignment and Agreement for Nonproducing Portion of HBP Leases may include variations based on specific lease terms, lessee requirements, or additional provisions tailored to meet the needs of particular parties involved.
