reasonable development covenant

reasonable-development covenant. Oil & gas. The implied promise in an oil-and-gas lease that once production is obtained the lessee will continue to develop the property as would a reasonably prudent operator, as opposed to merely holding the lease by the production already obtained. See FURTHER-EXPLORATION COVENANT T.

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词条贡献者

译者筠怡，毕业于法国顶尖的高级翻译学院，擅长翻译各种与产品责任与集体侵权诉讼相关的法律文件。