Common use of Engineering Information Clause in Contracts

Engineering Information. The Borrower will provide the following: (i) within 60 days after the end of each Fiscal Quarter, if not already delivered, the most recent consolidated production and revenue reports and lease operating statements for the immediately preceding Fiscal Quarter covering the Proved Producing Reserves, in form and substance satisfactory to the Agent, acting reasonably; (ii) prior to March 31 of each year, an independent economic and reserve evaluation report covering the then applicable Borrowing Base Properties prepared by an engineering firm acceptable to the Majority Lenders, acting reasonably, with an effective date no earlier than December 31 of the immediately preceding calendar year, provided that, in addition to the 54411012.5 - 109 - foregoing, the Majority Lenders will have the right, in conjunction with the 54411012.5 - 110 - exercise of their rights under Section 3.9(b)(i) or (ii), to request that an independent economic reserve and evaluation report covering the Borrowing Base Properties (in addition to the reports required above) be provided by the Borrower at the Borrower’s expense and the Borrower will provide the same within a reasonable time; (iii) prior to September 30 of each year, internally prepared economic and reserve evaluation reports covering the then applicable Borrowing Base Properties together with such lease operating statements, internally prepared reserve information and other information as the Agent may require, with an effective date no earlier than August 31, in form and substance satisfactory to the Agent, acting reasonably; and (iv) additional engineering information in accordance with customary practice upon request by the Agent or Lenders.

Engineering Information. The Borrower will provide the following: (i) within 60 days after the end of each Fiscal Quarter, if not already delivered, the most recent consolidated production and revenue reports and lease operating statements for the immediately preceding Fiscal Quarter covering the Proved Producing Reserves, in form and substance satisfactory to the Agent, acting reasonably; (ii) prior to March 31 May 15 of each year, an independent economic and reserve evaluation report covering the then applicable Borrowing Base Properties prepared by an engineering firm acceptable to the Majority Lenders, acting reasonably, with an effective date no earlier than December 31 of the immediately preceding calendar year, provided that, in addition to the 54411012.5 - 109 - foregoing, the Majority Lenders will have the right, in conjunction with the 54411012.5 - 110 - exercise of their rights under Section 3.9(b)(i3.10(b)(i) or (ii), to request that an independent economic reserve and evaluation report covering the Borrowing Base Properties (in addition to the reports required above) be provided by the Borrower at the Borrower’s expense and the Borrower will provide the same within a reasonable time; (iii) prior to September 30 October 31 of each year, internally prepared economic and reserve evaluation reports covering the then applicable Borrowing Base Properties together with such lease operating statements, internally prepared reserve information and other information as the Agent may require, with an effective date no earlier than August 31September 30, in form and substance satisfactory to the Agent, acting reasonably; and (iv) additional engineering information in accordance with customary practice upon request by the Agent or Lenders.