Common use of LESSER OR AFTER ACQUIRED INTEREST Clause in Contracts

LESSER OR AFTER ACQUIRED INTEREST. If it should hereafter appear that Lessor, at the time of making the Lease and without the knowledge of Lessor, owned a lesser interest than a one-third interest in the Substances contained in and under the Lands, then thereafter the rentals, royalties and the like accruing to Lessor hereunder shall be adjusted and paid to Lessor in the proportion which Lessor's interest bears to the to the entire interest in the Substances, but at no time shall the Lessor be required to refund any excess rental fees paid. Notwithstanding the foregoing, should Lessor hereafter acquire any additional right, title or interest in or to the Lands or the Substances, then any increase in payments of money hereunder necessitated thereby shall commence with the payment next following receipt by Lessee of satisfactory evidence of Lessor's acquisition of such additional interest.

LESSER OR AFTER ACQUIRED INTEREST. If it should hereafter appear that Lessor, at the time of making the Lease and without the knowledge of Lessor, owned a lesser interest than a one-third sixth interest in the Substances contained in and under the Lands, then thereafter the rentals, royalties and the like accruing to Lessor hereunder shall be adjusted and paid to Lessor in the proportion which Lessor's interest bears to the to the entire interest in the Substances, but at no time shall the Lessor be required to refund any excess rental fees paid. Notwithstanding the foregoing, should Lessor hereafter acquire any additional right, title or interest in or to the Lands or the Substances, then any increase in payments of money hereunder necessitated thereby shall commence with the payment next following receipt by Lessee of satisfactory evidence of Lessor's acquisition of such additional interest.