Common use of Two year extension Clause in Contracts

Two year extension. The lessee of a lease issued before August 8, 2005, may apply to extend a lease that was within 2 years of the end of its term on August 8, 2005, for up to 2 years to allow achievement of production under the lease or to allow the lease to be included in a producing unit. § 3200.8 What regulations apply to leases issued in response to applications pending on August 8, 2005?

Two year extension. The lessee of a lease issued before in effect on August 8, 2005, may apply to extend a lease that was within 2 two years of the end of its term on August 8, 2005, for up to 2 two years to allow achievement of production under the lease or to allow the lease to be included in a producing unit. § 3200.8 What regulations apply to leases issued in response to applications pending on August 8, 2005?