Held by Production. This Lease may be held in force after the termination of the Primary Term, including any extensions in accordance with Article II, Section 2 and/or Section 3 of this Lease, only by production from, or operations conducted on such unit, and production from, or operations conducted on one unit will not maintain this Lease in force as to any other acreage contained or described in the Leased Premises within any other unit, but such production or operations will maintain this Lease only as to the acreage within the unit or units upon which such production or operations are being maintained or conducted.
Held by Production compliance with the relevant lease term that permits the Borrower to extend the terms of the original lease for the life of a producing well, even if that term goes beyond the stipulated term of the original lease.
Held by Production. If a Borrower Property with respect to which the Borrower is requesting an amount pursuant to the disbursement is not then Held by Production, the Borrower will identify the Borrower Property and the amount of the proposed disbursement to be applied with respect to it, and the Borrower will describe the expected timeframe for establishing when the Borrower Property will be Held by Production, all of which will be acceptable to the Lender in the Lender’s discretion.
