Airport Participation in Oil and Gas Development (2018) / Chapter Skim
Currently Skimming:
Pages 79-80
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From page 79... ...
79 Term Description Airport Sponsor The entity that is legally responsible for the management and operation of an airport, including the fulfillment of the requirements of laws and regulations related thereto. Bonus The amount paid to the lessor as consideration for his or her execution of the lease.
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From page 80... ...
80 Term Description Pugh Clause A clause that can be added to an oil or gas lease to limit the rights of the lessee to hold only particular depths or amounts of the leased property. There are two kinds of Pugh clauses: vertical and horizontal.
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