surrender clause
surrender clause 解约条款 １石油或天然气租赁合同中的条款，依此条款，承租人在发出合同规定的通知或支付指定数目的金额后(在某些情况下甚至无需履行这些手续)，便可获得放弃其权利和终止其责任的特权；２人寿保险单中的一个条款，它规定了被保险人退保时一些特定的选择权。
Search Results for: SURRENDER CLAUSE
surrender clause
surrender clause. Oil & gas. A provision commonly found in oil-and-gas leases authorizing a lessee to release its rights to all or any portion of the leased property at any time and to be relieved of further obligations on the acreage surrendered.
eminent domain
eminent domain. The inherent power of a governmental entity to take privately owned property, esp. land, and convert it to public use, subject to reasonable compensation for the taking. — Also (rarely) termed compulsory purchase; (in Scots law) compulsory surrender. See CONDEMNATION(2); EXPROPRIATION; TAKING(2). [Cases: Eminent Domain 1, 69. C.J.S. Eminent Domain §§ 2–3, 71–72,