Common use of Well Limits Clause in Contracts

Well Limits. Vinland shall not propose less than twenty five (25) PUD ▇▇▇▇▇, nor more than forty (40) PUD ▇▇▇▇▇ in any PQDP. It is expressly understood that Vinland may not, without the express written consent of Vanguard, propose the drilling of more than forty (40) PUD ▇▇▇▇▇ during any PQDP. Notwithstanding anything herein to the contrary, Vinland’s obligations to propose the drilling of a minimum number of ▇▇▇▇▇ during each PQDP during the term of this Agreement will terminate four (4) years after the Effective Date of this Agreement. It is expressly understood that after the termination of said obligation, but during the term of this Agreement (the “Interim Period”) the Parties will still meet during the PQDP period as described above, but there shall be no obligation by either Party to propose the drilling of a minimum or maximum number of ▇▇▇▇▇. If a proposal is made by either Party for the drilling of ▇▇▇▇▇ during the Interim Period, the terms of this Agreement will apply to such ▇▇▇▇▇. After the expiration of the Interim Period and this Agreement, the terms of the relevant Operating Agreement shall control the development of the AMI Interests.