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LSDefine

Simple English definitions for legal terms

top lease

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A quick definition of top lease:

A lease is a contract where someone who owns property lets someone else use it in exchange for money. The lease can be for a short or long time, and the person using the property usually has to follow certain rules. There are different types of leases, like ones for businesses or for mining. A top lease is when someone leases property that already has a lease on it, but the new lease only starts when the old one ends.

A more thorough explanation:

Definition: A top lease is a lease granted on property that is already subject to an oil-and-gas lease. The rights granted by a top lease are valid only if the existing lease ends.

Example: Company A has an oil-and-gas lease on a piece of land. Company B wants to lease the same land for oil and gas exploration, so they enter into a top lease with the landowner. However, the top lease will only become effective if Company A's lease ends.

Explanation: A top lease is a type of lease that is granted on property that is already subject to an existing lease. In the example, Company B wants to lease the land for oil and gas exploration, but Company A already has a lease on the same land. The landowner can grant a top lease to Company B, but the top lease will only become effective if Company A's lease ends. This ensures that the rights granted by the top lease are valid and do not interfere with the existing lease.

top-hat pension plan | top management

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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