Meaning Change-of-Ownership Clause
What does Change-of-Ownership Clause mean? Here you find 3 meanings of the word Change-of-Ownership Clause. You can also add a definition of Change-of-Ownership Clause yourself
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Change-of-Ownership ClauseAs used in an oil and gas lease, this is a provision that specifies what notice must be given to a lessee about a change in the leased land's ownership before the lessee is obliged to recognize t [..]
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Change-of-Ownership ClauseAn oil and gas lease cclause specifying what notice must be given by the lessor or its assignee to the lessee of hanges in ownership to bind the lessee to recognize them. The purpose of the clause is to protect a lessee against the consequences of making an improper payment under the lease. Sometimes called an assignment clause.
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Change-of-Ownership Clause
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| << Cessation-of-Production Clause | Continuous-Operations Clause >> |
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