Gas Storage. Lessee shall have the right to use any formation underlying the Leased Premises for the storage of gas and shall have all rights and rights-of-way necessary to store and produce and transport such stored gas. As full payment for such storage rights, the Lessee shall pay to the Lessor rental at the rate of $1.00 per acre per year, while the premises are so used, and so long as the storage payment is made, all provisions of this lease shall remain in full effect.
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Samples: Oil and Gas Lease (Next Generation Energy Corp.), Oil and Gas Lease (Next Generation Energy Corp.), Oil and Gas Lease (Next Generation Energy Corp.)
Gas Storage. Lessee shall have the right to use any formation underlying the Leased Premises leased premises for the storage of gas and shall have all rights and rightsright-of-way necessary to store and produce and transport such stored gas. As full payment for such storage rights, the Lessee shall pay to the Lessor rental at the rate of One Dollar ($1.00 1.00) per acre per year, while the premises are so used, and so long as the storage payment is made, all provisions of this lease shall remain in full effect.
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