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Mathew，国际知名法学院国际仲裁与争端解决专业，擅长翻译各种与美国国内仲裁相关的法律文件。