lesser interest clause

lesser-interest clause. Oil & gas. A provision in an oil-and-gas lease allowing the lessee to reduce payments proportionately if the lessor turns out to own less than 100% of the mineral interest. — Also termed proportionate-reduction clause.

---

词条贡献者

资深译员Ting，世界知名语言学院法律英语专业，专注翻译各种与专业责任纠纷有关的法律文件。