Common use of Business; Compliance Clause in Contracts

Business; Compliance. Each Company has performed and -------------------- abided by all obligations required to be performed under each license, permit, order, authorization, grant, contract, agreement, or regulation to which any Company is a party or by which any Company or any of the assets of any Company are bound to the extent a failure to perform and abide by such obligations could have a material adverse effect on the assets, liabilities, financial condition, operations or prospects of such Company individually or the Companies taken as a whole; provided that to the extent oil and gas properties owned by any Company -------- ---- are operated by operators other than a Company or an Affiliate of a Company, Borrower does not have any knowledge that any such obligation remains unperformed and the appropriate Person has diligently enforced all contractual obligations of such operators to insure performance.

Business; Compliance. Each Company has performed and -------------------- abided by all obligations required to be performed under each license, permit, order, authorization, grant, contract, agreement, or regulation to which any Company is a party or by which any Company or any of the assets of any Company are bound to the extent a failure to perform and abide by such obligations could have a material adverse effect on the assets, liabilities, financial condition, operations or prospects of such Company individually or the Companies taken as a whole; provided that providedthat to the extent oil and gas properties owned by any Company -------- ---- are operated by operators other than a Company or an Affiliate of a Company, Borrower does not have any knowledge that any such obligation remains unperformed and the appropriate Person has diligently enforced all contractual obligations of such operators to insure performance.

Business; Compliance. Each Company has performed and -------------------- abided by all obligations required to be performed under each license, permit, order, authorization, grant, contract, agreement, or regulation to which any Company is a party or by which any Company or any of the assets of any Company are bound to the extent a failure to perform and abide by such obligations could have a material adverse effect on the assets, liabilities, financial condition, operations or prospects of such Company individually or the Companies taken as a whole; provided that PROVIDED THAT to the extent oil and gas properties owned by any Company -------- ---- are operated by operators other than a Company or an Affiliate of a Company, Borrower does not have any knowledge that any such obligation remains unperformed and the appropriate Person has diligently enforced all contractual obligations of such operators to insure performance.