Common use of Creation of Area of Mutual Interest Clause in Contracts

Creation of Area of Mutual Interest. The Parties agree that from and after the Closing Date the Option Area shall be an area of mutual interest. For the avoidance of doubt, the area of mutual interest covering the Option Area shall include all depths within the Option Area. The Parties acknowledge and agree that the provisions of this Article IV are subject and subordinate, in all respects, to the terms and conditions of Article 2 of the EOG Development Agreement, as amended, modified or supplemented by the Assignment Agreement.