Common use of UNITIZATION Clause in Contracts

UNITIZATION. With the consent and approval of the Lessor, Lessee may commit the Leasehold estate under this lease to a unit, co-operative or other plan of development of the Leasehold herein, with corresponding estate in other State land, Federal Lands, privately owned lands, or Indian lands. If only a portion of the lands covered by this lease shall be committed to a unit or other co-operative plan of development, Lessor may segregate the land area and issue a separate lease for each portion. In the event of unitization of the leasehold estate herein described or some portion thereof with the corresponding leasehold estate in other land the provisions of Paragraph 10 hereof shall be deemed modified as far as essential to be in harmony with such unit agreement.

UNITIZATION. With the consent and approval of the Lessor, Lessee may commit the Leasehold estate under this lease to a unit, co-operative or other plan of development of the Leasehold herein, with corresponding estate in other State land, Federal Lands, privately owned lands, or Indian lands. If only a portion of the lands covered by this lease shall be committed to a unit or other co-operative plan of development, Lessor may segregate the land area and issue a separate lease for each portion. In the event of unitization of the leasehold estate herein described or some portion thereof with the corresponding leasehold estate in other land the provisions of Paragraph 10 hereof shall be he deemed modified as far as essential to be in harmony with such unit agreement.