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Alberta Escrow Agreement for Oil and Gas Assets
Appoint an escrow agent to hold Alberta oil and gas assets in trust until a purchase of the assets is completed with this downloadable template.
- Role of Escrow Agent. The escrow agent will hold the assets in trust until all of the purchase funds have been released to the vendor upon completion of the transaction, or returned to the purchaser, in the event the sale is not completed.
- Interest. The escrow funds will be placed in an interest bearing trust account and the interest will be payable to the party who receives the purchase funds.
- Disputes. If either the purchaser or vendor disputes the escrow agent's determination regarding entitlement to the funds, the funds will be paid into court.
- Governing Laws. This Escrow Agreement for Oil and Gas Assets is governed by the laws of the Province of Alberta.
- How to Get the Form. Once you have purchased the form, you can immediately download the MS Word document.
$12.49 $10.00
Alberta Offer to Purchase Interest in Crown Leases
Use this downloadable template to make an offer to purchase an interest in crown leases in the Province of Alberta.
- Allocation of Purchase Price. The offer details how the purchase price will be allocated between petroleum and natural gas rights, tangibles, and miscellaneous interests.
- Interest Calculations. This sample offer letter includes two interest clauses - one for no interest, and one for interest to be calculated from the effective date to the date before closing.
- Formal Agreement. If accepted, the offeror will prepare a formal purchase and sale agreement.
- Conditions Precedent. The offer is subject to:
- the offeror performing a satisfactory due diligence review of all books, files, records, and contracts;
- the offeror receiving all necessary regulatory approvals;
- a satisfactory environmental audit by the offeror;
- the vendor being satisfied that Alberta Energy will approve the transfer.
- Jurisdiction. The offer form is written to be used in the Province of Alberta but can be modified for use in other Canadian provinces.
- How to Get the Form. You can download the MS Word template immediately after purchasing it.
$14.99
Alberta Offer to Purchase Oil and Gas Rights
Make an Offer to Purchase petroleum and natural gas rights with this downloadable template for Alberta properties.
- Purchase Price. The offer sets out how the purchase price will be paid.
- Conditional Offer. The offer is subject to:
- a title opinion;
- a satisfactory due diligence review by the offeror of all files, records and deeds.
- Time Limit. The offeree has a specified number of days in which to accept the offer.
- Formal Agreement. If accepted, the parties will proceed to preparing a formal purchase and sale agreement.
- Scope of Agreement. The Offer to Purchase template is for the Province of Alberta, but can be easily adapted for use in other Canadian provinces.
- How to Get the Form. You can download the MS Word template immediately after your purchase transaction. Other formats available on request.
$6.29
Alberta Purchase and Sale Agreement for Oil and Gas Leases
Sell your interest in oil and gas leases with this Purchase and Sale Agreement for the Province of Alberta.
- The Vendor will prepare and pay the cost of the conveyances.
- The Vendor will remit the GST payable on the transaction.
- The closing is subject to several conditions, including satisfactory completion of the purchaser's review.
- The Agreement contains standard representations and warranties given by each party.
- Each party indemnifies the other.
- Operating costs and proceeds will be adjusted as of the adjustment date, and the purchase price will be adjusted accordingly.
- The Vendor will maintain the assets in accordance with good oil field practice until the closing and will not make any commitments or expenditures in excess of a specified amount without the consent of the Purchaser.
- The Vendor will give appropriate notice to third parties with rights of first refusal.
- This Purchase and Sale Agreement for oil and gas leases is intended for use in the Province of Alberta, Canada.
$29.99
