This form is used when the Parties agree and shall contribute all proprietary seismic data and all non-proprietary seismic data affecting the Contract Area in its possession as of the effective date of this Agreement, to the extent the data is not restricted by confidentiality or licensing agreements with third parties. It is specifically understood and agreed that each Party has the right to sell, trade, and/or otherwise market seismic data involving the Contract Area which was in its possession prior to the effective date of this Agreement, and the benefits and advantages, including monetary consideration, which it receives as a result of those activities shall be the sole property of the party who owns the data.
