Common use of Lease of State-Owned Beds and Banks Clause in Contracts

Lease of State-Owned Beds and Banks. Within 60 days of the Effective Date, PacifiCorp shall apply for leases authorizing occupancy of submerged and submersible lands by the X.X. Xxxxx Dam, X.X. Xxxxx Powerhouse, and Keno Dam, which leases shall be in the form and contain the terms set forth in Exhibit 3 to this Settlement. No Party shall be deemed to have admitted, adjudicated, or otherwise agreed to the State of Oregon’s claim to ownership of submerged and submersible lands by virtue of this Settlement.

Lease of State-Owned Beds and Banks. Within 60 days of the Effective Date, PacifiCorp shall apply for leases authorizing occupancy of submerged and submersible lands by the X.X. Xxxxx Dam, X.X. Xxxxx Powerhouse, and Keno Dam, which leases shall be in the form and contain the terms set forth in Exhibit 3 2 to this Settlement. No Party shall be deemed to have admitted, adjudicated, or otherwise agreed to the State of Oregon’s claim to ownership of submerged and submersible lands by virtue of this Settlement.