Brain oscillations in the medial temporal lobe (MTL) of higher vertebrates have been a focus of neuroscientific research over the past decades. Particular emphasis has been placed on the role of theta oscillations that have been associated with a variety of cognitive functions in animals and humans, among these sensorimotor integration, spatial navigation, and mnemonic processing (cf. Buzsáki, 2005). Mediotemporal theta oscillations have been found to act as a timing mechanism for neural activity (e.g., Jacobs et al., 2007; O'Keefe and Recce, 1993; Siapas et al., 2005; Skaggs et al., 1996) and to modulate higher frequency activity in the gamma range both in rodents (Bragin et al., 1995; Chrobak and Buzsáki, 1998) and humans (Canolty et al., 2006; Demiralp et al., 2007; Mormann et al., 2005). Furthermore theta rhythmicity has been related to cognitive functions such as working memory (Jensen and Lisman, 1998) and to separate dynamics of associative synaptic encoding and retrieval (Hasselmo et al., 2002). One of the seminal discoveries in the context of mediotemporal theta oscillations was the phenomenon of phase precession (O'Keefe and Recce, 1993; Skaggs