Productive Property definition
Productive Property means any property interest owned by the Borrower or a Subsidiary in land (including submerged land and rights in and to oil, gas and mineral leases) located in the United States of America and classified by the Borrower or such Subsidiary, as the case may be, as productive of crude oil, natural gas or other petroleum hydrocarbons in paying quantities; provided that such term shall not include any exploration or production facilities on said land, including any drilling or producing platform.
Productive Property means any property interest owned by us or any subsidiary in land (including submerged land and right located in the United States of America classified by us or such subsidiary, as the case may be, as productive of crude oil, natu hydrocarbons in paying quantities; provided that such term shall not include any exploration or production facilities on said la platform.
Productive Property means any property interest owned by us or any subsidiary in land (including submerged land and rights in and to oil, gas and mineral leases) located in the United States of America classified by us or such subsidiary, as the case may be, as productive of crude oil, natural gas or other petroleum hydrocarbons in paying quantities; provided that such term shall not include any exploration or production facilities on said land, including any drilling or producing platform.