Letters in Lieu of Transfer Orders. The Lender agrees that none of the letters in lieu of transfer or division orders provided by the Borrower pursuant to Section 3.3 or Section 5.7 will be sent to the addressees thereof prior to the occurrence of an Event of Default, at which time the Lender may, at its option and in addition to the exercise of any of its other rights and remedies, send any or all of such letters.
Letters in Lieu of Transfer Orders. The Agent agrees that none of the letters in lieu of transfer or division orders provided by the Borrower pursuant to Section 3.1(f)(v) or Section 5.7 will be sent to the addressees thereof prior to the occurrence of an Event of Default, at which time the Agent may, at its option and in addition to the exercise of any of its other rights and remedies, send any or all of such letters.
Letters in Lieu of Transfer Orders. The Borrowers shall provide the Agent for the benefit of the Banks, undated letters in lieu of transfer orders, in form and substance satisfactory to Agent, from the Borrowers to each purchaser of hydrocarbons and disburser proceeds of hydrocarbons from and attributable to the Oil and Gas Properties, together with additional letters with addresses left blank authorizing and directing the addressees to make future payments attributable to hydrocarbons from the Oil and Gas Properties directly to the Agent for the benefit of the Banks. The Banks agree that none of the letters in lieu of transfer orders provided by the Borrowers pursuant to this Section 6(c) will be sent to the address prior to the occurrence of an Event of Default, at which time the Agent may, at its option and in addition to the exercise of any of its other rights and remedies, send any and all of such letters to such addressees; provided, however, that upon the occurrence of an Event of Default other than those specified in Sections 14(f) and (g), the Agent shall not send any or all of such letters until the applicable period to cure, if any, such Default has lapsed without such Default being cured. Borrowers hereby designate the Agent as its agent and attorney-in-fact, to act in its name, place and stead for the purpose of completing and delivering any and all letters in lieu of transfer orders delivered by the Borrowers to the Agent for the benefit of the Banks pursuant to Sections 6(c) and 11(a)(x) hereof, including, without limitation, completing any blanks contained in such letters and attaching exhibits thereto describing the relevant Collateral. Borrowers hereby ratify and confirm all that the Agent shall lawfully do or cause to be done by virtue of this power of attorney and the rights granted with respect to such power of attorney. This power of attorney is coupled with the interests of the Agent in the Collateral, shall commence and be in full force and effect as of the Effective Date and shall remain in full force and effect and shall be irrevocable until the obligations, if any, of the Agent hereunder have terminated and the full satisfaction of all obligations due hereunder or under the Notes. The powers conferred on Agent by this appointment may only be exercised by the Agent by execution by any Person who, at the time of exercise, is an officer of the Agent, and are solely to protect the interests of the Agent and the Banks under the Loan Documents and shall not impose any du...
Letters in Lieu of Transfer Orders. The Borrowers shall promptly upon the reasonable request of the Agent, at any time and from time to time and without limitation on the rights of Agent in accordance with Section 6(c) hereof, execute such letters in lieu of transfer orders, in addition to the letters signed by the Borrowers and delivered to the Agent in satisfaction of the conditions set forth in Sections 6(c) and 11(a)(x) hereof, as are necessary or appropriate to transfer and deliver to the Agent for the benefit of the Banks proceeds from or attributable to any Oil and Gas Property or other Collateral; provided, however, that such letters shall only be delivered to the addressees thereof in accordance with the provision of Section 6(c) hereof.
Letters in Lieu of Transfer Orders. The Bank agrees that none of the letters in lieu of transfer or division orders provided by the Borrower pursuant to Sections 6.6 and 6.7 will be sent to the addressee thereof prior to the occurrence of an Event of Default, and the expiration of any applicable cure periods, at which time the Bank may, at its option and in addition to the exercise of any of its other rights and remedies, send any or all of such letters.
Letters in Lieu of Transfer Orders. Promptly upon a reasonable request by the Bank at any time and from time-to-time and without limitation on the rights of the Bank in accordance with Sections 3.2 and 3.3, the Borrower shall execute such letters in lieu of transfer orders as are necessary or appropriate to transfer and deliver to the Bank proceeds from or attributable to any Mortgaged Property; provided, however, that such letters shall only be delivered to the addressees thereof in accordance with Section 3.2 of this Agreement.
Letters in Lieu of Transfer Orders. Promptly upon a reasonable request by the Lender at any time and from time to time and without limitation on the rights of the Lender in accordance with Sections 2.14 and 2.15, execute such letters in lieu of transfer orders, in addition to the letters signed by the Borrowers and delivered to the Lender in satisfaction of the conditions set forth in Subsection 4.1(g)(iii), as are necessary or appropriate to cover any additional, material purchasers of production; provided, however, that such letters shall only be delivered to the addressees thereof in accordance with subsection 2.14 of this Agreement.
Letters in Lieu of Transfer Orders. The Lender agrees that none of ---------------------------------- the letters in lieu of transfer or division orders provided by the Borrower pursuant to Section 4.1(f)(iii) will be sent to the addressees thereof prior to ------------------- the occurrence of an Event of Default, at which time the Lender may, at its option and in addition to the exercise of any of its other rights and remedies, send any or all of such letters, provided however, that upon the occurrence of an Event of Default other than those specified in Sections 9.1(a), (g) or (h), --------------------------- the Lender shall not send any or all of such letters or division orders until the applicable period to cure such Default has lapsed without such Default being cured.
Letters in Lieu of Transfer Orders. Promptly upon the occurrence of ---------------------------------- an Event of Default and the expiration of any applicable period to cure and upon a reasonable request by the Lender but no more often than once every quarter and without limitation on the rights of the Lender in accordance with Sections 2.15 ------------- and 2.16, execute such letters in lieu of transfer orders, in addition to the -------- letters signed by the Borrower and delivered to the Lender in satisfaction of the conditions set forth in Section 4.1(f)(iii), as are necessary or appropriate ------------------- to transfer and deliver to the Lender proceeds from or attributable to any Mortgaged Property; provided, however, that such letters shall only be delivered ----------------- to the addressees thereof in accordance with Section 2.15 of this Agreement. ------------
Letters in Lieu of Transfer Orders. Notwithstanding any other term or provisions hereof to the contrary, the Lender agrees that the letters in lieu of transfer or division orders provided by the Borrowers pursuant to Subsections 4.1(f)(iii) and 6.8 will not be sent to the addressees thereof prior to the occurrence of an Event of Default, at which time the Lender may, at its option and in addition to the exercise of any of its other rights and remedies, send any or all of such letters, provided however, that upon the occurrence of an Event of Default other than those specified in Section 9.1(d), (g) or (h), the Lender shall not send any or all of such letters or division orders until the applicable period to cure such Default has lapsed without such Default being cured. In the event Lender exercises the rights set forth in this Section 2.14, Lender agrees that it shall request such purchasers of production to remit any proceeds net of lease operating expenses and production taxes. Lender may accept any gross payments made despite such requests without liability hereunder.
