secondary term
secondary term. Oil & gas. The term of an oil-and-gas lease after production has been established, typically lasting “as long thereafter as oil and gas is produced from the premises.” See HABENDUM CLAUSE; PRIMARY TERM.
secondary term. Oil & gas. The term of an oil-and-gas lease after production has been established, typically lasting “as long thereafter as oil and gas is produced from the premises.” See HABENDUM CLAUSE; PRIMARY TERM.