Why doesn the lease expressly state the signing bonus amount?
In Texas, the signing bonus is rarely stated in the lease document. This may be a relic from the days when operators could keep the current rates a secret from the general public, back before the internet. It is somewhat similar to your property deed when you bought your house, which most likely did not contain the sales price. However, please take your calculator and check the figures for your bank draft to make sure you agree with the figures. Note: Be sure to keep a copy of the bank draft for your records. This may be handy in the event Chesapeake exercises the option to extend the lease at the end of the primary term because at that time a second bonus payment will be required and you’ll be able to make sure the amount is correct.
Related Questions
- If I signed a mineral lease and received my entire signing bonus payment, can the lawyers help me evaluate whether I am in a drilling unit or why I have not received any royalty payments?
- Should the lease state the square footage leased or occupied in the premises?
- Are landlords required to state a reason for not renewing a lease?
