Common use of Commodity Hedging Clause in Contracts

Commodity Hedging. Except as could not reasonably be expected to have a Material Adverse Effect, comply in all material respects with any Commodity Hedge Agreements entered into by the Borrower or any Subsidiary of the Borrower subsequent to the Closing Date and not in violation of the provisions of Section 6.1 and provide to the Agent, no later than the 30th day following the end of each calendar month, a report, in form reasonably acceptable to the Agent, reflecting (a) in the case of Oil and Gas Properties of the Borrower or any of the Guarantors located in the State of Texas or, regardless of location, operated by the Borrower or any of the Guarantors, the volumes of hydrocarbons produced from such Oil and Gas Properties during the calendar month preceding the calendar month in which such report is to be provided, (b) in the case of Oil and Gas Properties of the Borrower or any of the Guarantors located in the State of Wyoming or, regardless of location, not operated by the Borrower or any of the Guarantors, the volumes of hydrocarbons produced from such Oil and Gas Properties during the period covered by the information most recently received by the Borrower or the relevant Guarantor from the operator or operators of such Oil and Gas Properties and (c) the details of the notional amounts of hydrocarbons, as of the end of the calendar month preceding the calendar month in which such report is to be provided, under then existing Commodity Hedge Agreements to which any of the Borrower and the Guarantors is a party.”

Commodity Hedging. Except as could not reasonably be expected to have a Material Adverse Effect, comply in all material respects with any Commodity Hedge Agreements entered into by the Borrower or any Subsidiary of the Borrower subsequent to the Closing Date and not in violation of the provisions of Section 6.1 and provide to the Agent, (a) no later than the 30th day following the end of each calendar month, a report, in form reasonably acceptable to the Agent, reflecting (ai) in the case of Oil and Gas Properties of the Borrower or any of the Guarantors located in the State of Texas or, regardless of location, operated by the Borrower or any of the Guarantors, the volumes of hydrocarbons produced from such Oil and Gas Properties during the calendar month preceding the calendar month in which such report is to be provided, (bii) in the case of Oil and Gas Properties of the Borrower or any of the Guarantors located in the State of Wyoming or, regardless of location, not operated by the Borrower or any of the Guarantors, the volumes of hydrocarbons produced from such Oil and Gas Properties during the period covered by the information most recently received by the Borrower or the relevant Guarantor from the operator or operators of such Oil and Gas Properties and (ciii) the details of the notional amounts of hydrocarbons, as of the end of the calendar month preceding the calendar month in which such report is to be provided, under then existing Commodity Hedge Agreements to which any of the Borrower and the Guarantors is a partyparty and (b) prior to the Borrower or any Guarantor entering into any Commodity Hedge Agreement in reliance on adjustments to the volumes of reserves projected to be produced in the most recent Reserve Report provided pursuant to the provisions of Section 5.4 contemplated in the definition of Projected Production appearing in Section 1.2, a statement of the adjustments made and the basis therefor.”