Common use of Division Orders Clause in Contracts

Division Orders. Promptly upon request by the Lender at any time and from time to time following the occurrence of any Event of Default and without limitation on the rights of the Lender in accordance with Sections 2.14 and 2.15, execute such division and/or transfer orders as are necessary or appropriate to transfer and deliver to the Lender proceeds from the sale of hydrocarbon production from or attributable to any Mortgaged Property, provided, however, that such letters shall only be delivered to the addressees thereof in accordance with Subsection 2.14 of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (GMX Resources Inc)

Division Orders. Promptly upon request by the Lender at any time and from time to time following the occurrence of any Event of Default and without limitation on the rights of the Lender in accordance with Sections 2.14 and 2.15, execute such division and/or transfer orders as are necessary or appropriate to transfer and deliver to the Lender proceeds from the sale of hydrocarbon production from or attributable to any Mortgaged Property, provided, however, that such letters shall only be delivered to the addressees thereof in accordance with Subsection subsection 2.14 of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Pontotoc Production Inc)