Drilling and Operations Clause Samples
Drilling and Operations. To the best of Borrower's knowledge, except as heretofore disclosed to the Bank in writing, the oil and gas ▇▇▇▇▇ identified in the Collateral Documents have been drilled and operated in all material respects in accordance with the terms of relevant leases and agreements and applicable federal, state and local laws and regulations and are bottomed on and producing from the drilling and spacing units or blocks therefor.
Drilling and Operations. Since owned by the Company and to the best of its knowledge prior thereto, the oil and gas ▇▇▇▇▇ comprising the producing Properties mortgaged to Bank Parties (or Agent for the benefit of Bank Parties) pursuant to the Security Documents have been drilled and operated in all material respects in accordance with the material terms of relevant leases and agreements and applicable Federal, state, and local laws and regulations and are bottomed on and producing from the drilling and spacing units or blocks therefor and no failure to comply therewith could have a Material Adverse Effect.
Drilling and Operations. 38 7.18. Payments by Purchasers of Production..................................... 38 7.19. Credit Agreements........................................................ 38 7.20. Hazardous Materials...................................................... 38 7.21. Subsidiaries and Partnerships............................................ 40 7.22. True and Complete Disclosure............................................. 41 7.23. No Election to be Treated as a Utility................................... 41 ARTICLE VIII. Covenants of the Company............................................... 41 8.01. Financial Statements..................................................... 41 8.02. Litigation............................................................... 44 8.03. Corporate Existence, Etc................................................. 44 8.04.
Drilling and Operations