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

Creation of Area of Mutual Interest. Subject to Section 10.2(5), the Parties agree that for a period beginning on the Closing Date and ending on the 25th anniversary thereof, the Development Area shall be an area of mutual interest as described in Exhibit A-1. For clarity, in general this Agreement only applies to Subject Assets covering depths within the Marcellus Formation, but with respect to any Fill-In Interest or Option Interest to be acquired pursuant to this ARTICLE V, such Fill-In Interest and/or Option Interest shall include all depths that have been or are being acquired by the acquiring Party or Acquiring Party, as applicable. In the event a Fill-In Interest or an Option Interest is acquired pursuant to this ARTICLE V, only the portion of such Fill-In Interest or Option Interest that covers depths within the Marcellus Formation shall thereafter be subject to the terms and provisions of this Agreement and the depths outside the Marcellus Formation shall not be subject to the terms of this Agreement. Further for clarity, if a Party or any of its Affiliates, directly or indirectly, acquires a Lease or related asset in the Development Area that does not cover any depths within the Marcellus Formation, then such acquisition shall not be subject to the terms of this ARTICLE V or the other terms of this Agreement.