marketable product rule

marketable-product rule. Oil & gas. For royalty-calculation purposes, the doctrine that “production” occurs when oil or gas is pumped up, stored, and made marketable through processing. • Until producing a marketable product, the lessee bears all costs of capturing and handling oil and gas. Cf. CAPTURE-AND-HOLD RULE.

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词条贡献者

资深译员Jenny，国内名牌大学法律英语专业，专注翻译各种与重组、破产及重整有关的法律文件。