Common use of ARO Reporting Clause in Contracts

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment and Reclamation Report together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities of any one or more of the Borrowers and the Material Subsidiaries (excluding any security which is mandatorily required to be provided by producers without regard to any Liability Management Rating deficiency or similar abandonment and reclamation obligation deficiency construct). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiary, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any of the Canadian Borrower and the Material Subsidiaries or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the Material Subsidiaries with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and operator insolvency notices; provided that the aggregate estimated cost of compliance with all such orders, notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to the Agent if any letters of credit or other forms of security are issued on its or any Material Subsidiary’s behalf to any applicable Energy Regulator if the Liability Management Rating of the Canadian Borrower or any Material Subsidiary is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator).

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment a summary of the Canadian Borrower’s and Reclamation Report its Material Subsidiaries’ upstream oil and gas ▇▇▇▇▇, facilities and pipelines located in Canada (in substantially the form attached hereto as Schedule M), together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities ARO Liabilities of any one or more of the Borrowers and the Material Subsidiaries (excluding any security deposits which is are mandatorily required to be provided by producers any owner, licensee or operator of ARO Assets without regard to any Liability Management Rating deficiency (A) the financial condition or similar creditworthiness of such Person or (B) the licensee capability or abandonment and reclamation obligation deficiency constructobligations determined to be applicable to such Person by an Energy Regulator). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiary, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related pursuant to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any of the Canadian Borrower and the Material Subsidiaries or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the any Material Subsidiaries Subsidiary with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and or operator insolvency notices; provided that the aggregate estimated cost of compliance with the unsatisfied obligations under all such orders, Abandonment/Reclamation Orders or other notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to receipt thereof by the Agent if any letters of credit or other forms of security are issued on its Canadian Borrower or any Material Subsidiary’s behalf , a copy of any curtailment, closure or similar order or directive issued by an Energy Regulator which relates to its material property and impacts a material volume of production but excluding any such curtailment or similar order or directive which is (A) in the normal course of business (including as a result of any short term interruptions of production which are not reasonably expected to exceed 30 days) or (B) in response to any orders, or series of related orders, which are generally applicable Energy Regulator if the Liability Management Rating to owners of ARO Assets and which are not directly related to any exceedance or other non-compliance event by or on behalf of the Canadian Borrower or any Material Subsidiary is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator)Subsidiary.

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment and Reclamation Report together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities of any one or more of the Borrowers Borrower and the Material Subsidiaries other Loan Parties (excluding any security which is mandatorily required to be provided by producers without regard to any Liability Management Rating deficiency or similar abandonment and reclamation obligation deficiency construct). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiaryother Loan Party, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any one or more of the Canadian Borrower and the Material Subsidiaries Loan Parties or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the Material Subsidiaries Loan Parties with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and operator insolvency notices; provided that the aggregate estimated cost of compliance with all such orders, notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to the Agent if any letters of credit or other forms of security are issued on its or any Material Subsidiaryother Loan Party’s behalf to any applicable Energy Regulator if the Liability Management Rating of the Canadian Borrower or any Material Subsidiary other Loan Party is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator).”.

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment a summary of the Borrower’s and Reclamation Report the Material Subsidiaries’ upstream oil and gas ▇▇▇▇▇, facilities and pipelines located in Canada (in substantially the form attached hereto as Schedule K), together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities of any one or more ARO Liabilities of the Borrowers Borrower and the Material Subsidiaries (excluding any security deposits which is are mandatorily required to be provided by producers any owner, licensee or operator of ARO Assets without regard to any Liability Management Rating deficiency (A) the financial condition or similar creditworthiness of such Person or (B) the licensee capability or abandonment and reclamation obligation deficiency constructobligations determined to be applicable to such Person by an Energy Regulator). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiary, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related pursuant to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any of the Canadian Borrower and the Material Subsidiaries or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the any Material Subsidiaries Subsidiary with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and or operator insolvency notices; provided that the aggregate estimated cost of compliance with the unsatisfied obligations under all such orders, Abandonment/Reclamation Orders or other notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to receipt thereof by the Agent if any letters of credit or other forms of security are issued on its Borrower or any Material Subsidiary’s behalf , a copy of any curtailment, closure or similar order or directive issued by an Energy Regulator which relates to its material property and impacts a material volume of production but excluding any such curtailment or similar order or directive which is (A) in the normal course of business (including as a result of any short term interruptions of production which are not reasonably expected to exceed 30 days) or (B) in response to any orders, or series of related orders, which are generally applicable Energy Regulator if the Liability Management Rating to owners of ARO Assets and which are not directly related to any exceedance or other non-compliance event by or on behalf of the Canadian Borrower or any Material Subsidiary is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator)Subsidiary.

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment and Reclamation Report together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities of any one or more of the Borrowers Canadian Borrower and the Material Subsidiaries (excluding any security which is mandatorily required to be provided by producers without regard to any Liability Management Rating deficiency or similar abandonment and reclamation obligation deficiency construct). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiary, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any one or more of the Canadian Borrower and the Material Subsidiaries or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the Material Subsidiaries with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and operator insolvency notices; provided that the aggregate estimated cost of compliance with all such orders, notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to the Agent if any letters of credit or other forms of security are issued on its or any Material Subsidiary’s behalf to any applicable Energy Regulator if the Liability Management Rating of the Canadian Borrower or any Material Subsidiary is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator).

ARO Reporting. (i) The Canadian Borrower shall deliver to the Agent, within 120 days after the end of each of its fiscal years, an annual Abandonment and Reclamation Report together with a summary of all letters of credit and other forms of security provided to each applicable Energy Regulator related to abandonment and reclamation obligations and liabilities of any one or more of the Borrowers Canadian Borrower and the Material Subsidiaries (excluding any security which is mandatorily required to be provided by producers without regard to any Liability Management Rating deficiency or similar abandonment and reclamation obligation deficiency construct). (ii) The Canadian Borrower shall deliver to the Agent, promptly following receipt thereof by it or any Material Subsidiary, copies of any Abandonment/Reclamation Orders (and any amendments, supplements or other modifications thereto) or other material notices or communications related to any directives, rules, regulations or other orders issued by any applicable Energy Regulator to any one or more of the Canadian Borrower and the Material Subsidiaries or otherwise affecting any of the assets of any of them relating to any non-compliance by any of the Canadian Borrower and the Material Subsidiaries with any applicable Environmental Laws, including liability assessments, potential or designated problem site notices, requirement to post security deposits and operator insolvency notices; provided that the aggregate estimated cost of compliance with all such orders, notices or communications would reasonably be expected to exceed the Threshold Amount. (iii) The Canadian Borrower shall deliver to the Agent, promptly following delivery of such letters of credit or security, notice to the Agent if any letters of credit or other forms of security are issued on its or any Material Subsidiary’s behalf to any applicable Energy Regulator if the Liability Management Rating of the Canadian Borrower or any Material Subsidiary is less than 2.0 in any Primary Jurisdiction (or if such Liability Management Rating would have been below any such threshold absent such letter of credit or security having been delivered to the applicable Energy Regulator).”.