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LAWDOG® Bankruptcy

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LAWDOG BANKRUPTCY DICTIONARY

Production Payment


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Under 11 U.S.C. Section 101, the term:

(42A) ''production payment'' means a term overriding royalty satisfiable in cash or in kind-

(A) contingent on the production of a liquid or gaseous hydrocarbon from particular real property; and

(B) from a specified volume, or a specified value, from the liquid or gaseous hydrocarbon produced from such property, and determined without regard to production costs;


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