Secondary term

{
  "id": "MLC-T-OAG-003302",
  "term": "Secondary term",
  "field": "Oil and gas",
  "definition": "The period of an oil and gas lease that follows the primary term and lasts for as long as oil or gas is produced in paying quantities, beginning only if production was established or the lease was otherwise extended before the primary term ended. If production stops, the lease typically terminates unless a savings provision such as shut-in royalty or continuous operations keeps it in force. The habendum clause is the lease provision that sets out both terms.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/secondary-term/"
}