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State what each side agrees to do. Clearly write out the terms of the loan. Include information about the date of the loan, the payment terms, interest, schedule of payments, late charges, default, and any other details in the agreement. Explain that the contract represents the entire agreement.
A clause in an oil & gas lease that allows the lessee to pay an amount (delay rental) to the lessor to postpone commencement of drilling operations during the primary term of the lease to keep it in effect.
A clause in an oil & gas lease that allows the lessee to pay an amount (delay rental) to the lessor to postpone commencement of drilling operations during the primary term of the lease to keep it in effect.