Expiring. Lands shall cease to be Farmout Lands and shall cease to be subject to this Agreement effective 6 months prior to the Expiry Date for such Expiring Lands except for: (i) any portion of the Expiring Lands that forms a part of a Spacing Unit for an Earning Well which has been drilled hereunder; and (ii) any portion of the Expiring Lands that forms a part of a Spacing Unit for an Earning Well which is then committed to be drilled hereunder.
Appears in 2 contracts
Sources: Farmout Agreement (Abraxas Petroleum Corp), Farmout Agreement (Abraxas Petroleum Corp)