Common use of Burdens Clause in Contracts

Burdens. The Leasehold Interests to be acquired by the Program shall be subject to and McMoRan and Participant each shall bear its proportionate part of all third party overriding royalties and other burdens on Leasehold Interests (including subsequently acquired Leasehold Interests in the Prospect AMI) which McMoRan contracts for incidental to the acquisition or evaluation of such Leasehold Interests. Participant acknowledges that McMoRan has heretofore entered into a retainer agreement with a Technical Consultant and may enter into similar agreements with others during the Program Term. Without the consent of Participant, McMoRan agrees not to subject any Leasehold Interests to overriding royalty burdens to its Technical Consultants which exceed the amounts deliverable to its current Technical Consultant, CLK Company, L.L.C.(CLK),under their existing agreement as described in the letter to Participant dated the date hereof. McMoRan has provided Participant with a copy of its current consulting agreement with CLK and Participant agrees that it will bear its proportionate part of the overriding royalties to which CLK is entitled pursuant to the terms of said consulting agreement as to any Leasehold Interests acquired hereunder as well as to any Leasehold Interests that Participant may acquire pursuant to an AMI agreement subject hereto.

Burdens. The Leasehold Interests to be acquired by the Program shall be subject to and McMoRan and Participant each shall bear its proportionate part of all third party overriding royalties and other burdens on Leasehold Interests Interest (including subsequently acquired Leasehold Interests in the Prospect AMI) which McMoRan contracts for incidental to the acquisition or evaluation of such Leasehold Interests. Participant acknowledges that McMoRan has heretofore entered into a retainer agreement with a Technical Consultant and may enter into similar agreements with others during the Program Term. Without the consent of Participant, McMoRan agrees not to subject any Leasehold Interests Interest to overriding royalty burdens to its Technical Consultants which exceed the amounts deliverable to its current Technical Consultant, CLK Company, L.L.C.(CLK),under their existing agreement as described in the letter to Participant dated the date hereof. McMoRan has provided Participant with a copy of its current consulting agreement with CLK and Participant agrees that it will bear its proportionate part of the overriding royalties to which CLK is entitled pursuant to the terms of said consulting agreement as to any Leasehold Interests Interest acquired hereunder as well as to any Leasehold Interests Interest that Participant may acquire pursuant to an AMI agreement subject hereto.