Common use of UNITIZATION Clause in Contracts

UNITIZATION. Lessee shall have the right to unitize all or any part of the above described lands as to one or more formations or pools thereunder with other lands in the same general area by entering into a unit agreement or plan of development of operation, approved by any governmental authority and, from time to time, with like approval, to modify, change or terminate any such agreement or plan. In such event, the terms, conditions and provisions of this lease shall be deemed modified to conform to the terms, conditions and provisions of such approved unit agreement or plan, and this lease shall not expire during the life of such agreement or plan.

UNITIZATION. Lessee shall have the right to unitize all or any part of the above described lands as to one or more formations or pools thereunder with other lands in the same general area by entering into a unit agreement or plan of development of operation, approved by any governmental authority and, from time to time, with like approval, to modify, change or terminate any such agreement or plan. In such event, the terms, conditions and provisions of this lease Lease shall be deemed modified to conform to the terms, conditions conditions, and provisions of such approved unit agreement or plan, and this lease Lease shall not expire during the life of such agreement or plan.