I have 100 acres in Centre County (near Snow Shoe). We were one of the early ones to sign and didn't do well with the lease (100 an acre). However, the lease does have a first right of refusal "top lease" clause. From my understanding if we get a better lease before the first 5 year term (current lease is for 5 with an option to extend for 5) the company we leased with has to match it or let us accept the better lease.
Is anyone familiar with this clause? Is anyone aware of companies interested in leasing in Centre County right now?
Hi Joe...I sure would like to understand that more fully myself. There have already been some discussions about that topic but not sure that we all understand it.
here is a link to a discussion that does discuss it very thoroughly ...howbeit different opinons and understandings.