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Alter Pooling Agreement

Alter Pooling Agreement

Aug 6th, 2022

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How to Alter Pooling Agreement

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A pooling agreement can impact your mineral rights by combining petroleum resources from multiple properties, allowing for shared royalties. For instance, an oil well may draw from a larger underground reservoir that spans several legal parcels. This means that if you hold mineral rights on a property, it's important to check for existing pooling agreements, as these can ensure you receive benefits and royalties from oil or mineral extraction, even if the extraction occurs on a different property. For further inquiries about researching mineral rights or real estate records, you can reach out to us at titlesearch.com.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is an intercompany pooling agreement?

9. Intercompany pooling arrangements involve establishment of a conventional quota share reinsurance agreement under which all of the pooled business is ceded to the lead entity and then retroceded back to the pool participants in ance with their stipulated shares.

What is a pooling agreement?

A pooling agreement is a type of contract in which shareholders of a corporation create a voting trust by pooling their voting rights and transferring them to a trustee. This is also called a voting agreement or shareholder-control agreement since it is used to control the affairs of the corporation.

What does it mean to alter an agreement?

A contract amendment allows the parties to make a mutually agreed-upon change to an existing contract. An amendment can add to an existing contract, delete from it, or change parts of it. The original contract remains in place, only with some terms altered by way of the amendment.

Can I amend a contract after it is signed?

It is not illegal to alter a contract once it has been signed. However, it must be materially changed, meaning that if an important part of the contract is altered by the change, it must be made by mutual consent of both parties.

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