Common use of Existing Interests Clause in Contracts

Existing Interests. The Executive has in the past conducted oil and gas activities individually and through Chesapeake Investments and other entities owned or controlled by the Executive (collectively, the "Executive Affiliates"). The Executive will be permitted to continue to conduct oil and gas activities (including participation in new wells) directly or through the Executive Affiliates, ▇▇▇ only to the extent such activities are conducted on oil and gas leases or interests which the Executive or Executive Affiliates owned or had the right to acquire as of July 1, 2001, or which the Executive or the Executive Affiliates acquired from the Company under this Agreement or prior agreements with the Company (collectively, the "Prior Interests"). To the extent that the oil and gas interests or activities covered by this paragraph 3.1 are operated by the Company the ownership and participation will be subject to the payment and revenue adjustment provisions set forth in this paragraph 3.

Existing Interests. The Executive has in the past conducted oil and gas activities individually and through Chesapeake Investments TLW Investments, Inc., TLW Production Company and other entities owned or controlled by the Executive (collectively, the "“Executive Affiliates"”). The Executive will be permitted to continue to conduct oil and gas activities (including participation in new wellsw▇▇▇▇) directly or through the Executive Affiliates, ▇▇▇ but only to the extent such activities are conducted on oil and gas leases or interests which the Executive or Executive Affiliates owned or had the right to acquire as of July 1, 2001, or which the Executive or the Executive Affiliates acquired from the Company under this Agreement or prior agreements with the Company (collectively, the "“Prior Interests"”). To the extent that the oil and gas interests or activities covered by this paragraph 3.1 are operated by the Company Company, the ownership and participation will be subject to the payment and revenue adjustment provisions set forth in this paragraph 3.

Existing Interests. The Executive has in the past conducted oil and gas activities individually and through Chesapeake TLW Investments Inc., TLW Production Company and other entities owned or controlled by the Executive (collectively, the "Executive Affiliates"). The Executive will be permitted to continue to conduct oil and gas activities (including participation in new wells) directly or through the Executive Affiliates, ▇▇▇ only to the extent such activities are conducted on oil and gas leases or interests which the Executive or Executive Affiliates owned or had the right to acquire as of July 1, 2001, or which the Executive or the Executive Affiliates acquired from the Company under this Agreement or prior agreements with the Company (collectively, the "Prior Interests"). To the extent that the oil and gas interests or activities covered by this paragraph 3.1 are operated by the Company the ownership and participation will be subject to the payment and revenue adjustment provisions set forth in this paragraph 3.