Common use of Gas Imbalances Clause in Contracts

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 in the aggregate which would require the Company or its Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 3 contracts

Samples: Term Loan Agreement (Venoco, Inc.), Term Loan Agreement (Venoco, Inc.), Credit Agreement (Venoco, Inc.)

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Gas Imbalances. Except as disclosed to the Lenders Administrative Agent in writing prior to the Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 2,000,000 in the aggregate which that would require the Company or its Subsidiaries any Guarantor to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 2 contracts

Samples: Term Loan Agreement (Exploration Co of Delaware Inc), Credit Agreement (Exploration Co of Delaware Inc)

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 3% of the Borrowing Base then in effect in the aggregate which would require the Company or its Restricted Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 2 contracts

Samples: Credit Agreement (Venoco, Inc.), Credit Agreement (Venoco, Inc.)

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Timeon Schedule 6.12, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 in the aggregate which would require the Company Borrower or its Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 2 contracts

Samples: Term Loan Agreement (Venoco, Inc.), Term Loan Agreement (Venoco, Inc.)

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 3% of the Borrowing Base in effect on the Effective Date in the aggregate which would require the Company or its Restricted Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Second Lien Term Loan Agreement (Venoco, Inc.)

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 in the aggregate which would require the Company or its Restricted Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

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Gas Imbalances. Except as disclosed to the Lenders Administrative Agent in writing prior to the Restatement Effective Time, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 2,000,000 in the aggregate which that would require the Company or its Subsidiaries any Guarantor to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Term Loan Agreement (TXCO Resources Inc)

Gas Imbalances. Except as disclosed to the Lenders in writing prior to the Effective Timedate of this Agreement, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 in the aggregate which would require the Company or its Subsidiaries to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Credit Agreement (BMC, Ltd.)

Gas Imbalances. Except As of the date hereof, except as disclosed to the Lenders in writing prior to the Effective Timeset forth on Schedule 5.15, there are no gas imbalances, take or pay or other prepayments with respect to any of the Oil and Gas Properties in excess of $400,000 2,000,000 in the aggregate which that would require the Company or its Subsidiaries any Borrower to deliver Oil and Gas produced from any of the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Possession Credit Agreement (TXCO Resources Inc)

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