Common use of Article One Clause in Contracts

Article One. Article One of the Indenture is hereby amended to add the following terms and their respective definitions in proper alphabetical order: "Adjusted Net Assets" of a Subsidiary Guarantor at any date shall mean the amount by which the fair value of the properties and assets of such Subsidiary Guarantor exceeds the total amount of liabilities, including, without limitation, contingent liabilities (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Subsidiary Guarantee, of such Subsidiary Guarantor at such date.

Appears in 2 contracts

Sources: First Supplemental Indenture (Ocean Energy Inc /Tx/), First Supplemental Indenture (Ocean Energy Inc /Tx/)