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Harmonizing Assignments and Exhibits

Producer's Edge

Citation 2002 Inv. Citation 2002 Inv. In Posse Energy the El Paso Court of Appeals determined that the limiting language in the exhibit at issue did control, since the language in the granting instrument was “extremely broad” and the exhibit included the critical limiting language of “insofar and only insofar as.”

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Broad Assignments & Deep Disputes: Decoding Depth Descriptions

Producer's Edge

Where the instruments are not clear, this can sometimes lead to disagreement as to whether the descriptive information is intended to limit the scope of the assignment, or to merely serve as helpful descriptive information. Citation 2002 Inv. et al (Occidental) to a predecessor of Citation 2002 Investment LLC (Citation).

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Louisiana’s Sabine River Authority Not Entitled To Sovereign Immunity

The Energy Law

An entity classified as an “arm of the state” would be entitled to sovereign immunity provided by the Eleventh Amendment; in contrast, a “political subdivision” is not afforded the same protection. The burden of proof falls on the entity seeking immunity and SRA-L failed to meet its burden.

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Key Issues in OTC Derivatives Contracts as COVID-19 Disrupts Global Financial Markets

The Energy Law

In the 2002 ISDA Master Agreement this concept appears in the “force majeure” termination event, and in the 1992 ISDA Master Agreement it is often adopted as an “impossibility” additional termination event. It has been an extraordinary few weeks as businesses face challenges presented by the COVID-19 outbreak.

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Louisiana Second Circuit Addresses: (1) Creation of Mineral Servitudes Via Notarial Acts of Correction; (2) Obstacles Suspending the Prescription of Nonuse from Running Against Mineral Servitudes; and (3) Payment of Court Costs in Concursus Actions

The Energy Law

Nonetheless, it does serve as a reminder that when a party recognizes an omission or mistake in an instrument affecting mineral rights, a party should not immediately opt for an easy fix via a notarial act of correction. Flat River Farms, L.L.C. , 12] In its analysis, the Court first looked to the pertinent language of La.

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Derivatives: ISDA Announces 2016 New York Law Variation Margin Credit Support Annex

The Energy Law

For over 20 years, the existing 1994 CSA has been the preferred instrument for detailing credit support arrangements related to New York law ISDA contracts. Initial margin requirements are excluded from the 2016 CSA and, if applicable, would be addressed in a separate instrument. In the coming months, the U.S.