Common use of No Proprietary Interest Clause in Contracts

No Proprietary Interest. 2.3.1 Nothing contained herein shall vest or create any proprietary interest in the Seabed or any part thereof in favour of the Lessee or any part thereof or any other person claiming through or under the Lessee. All rights in the Seabed not expressly granted to the Lessee shall continue to be reserved to the Lessor. 2.3.2 The Lessee acknowledges, accepts and confirms that the covenant contained herein is an essence of this Seabed lease deed agreement and shall duly bind any person to whom the Lessee gives any authorization for use of the Seabed.