Common use of Hydrocarbon Interests Clause in Contracts

Hydrocarbon Interests. If the Majority Lenders at any time determine that the production, recovery or transportation of Hydrocarbons with respect to any Hydrocarbon Interest may be impeded or prejudiced in a manner that could reasonably be expected to have a Material Adverse Effect, they shall be entitled to obtain such reports, conduct such investigations and consult with such professional advisors as they may reasonably require (including, without limitation, appointing an independent environmental expert, insurance advisor or legal advisors) with a view to assessing the ability of the Borrowers and any other Obligor to comply with the terms of this Agreement and any other Loan Document. All costs and expenses incurred by the Majority Lenders in connection with such reports, investigations or consultations shall be borne by the Borrowers; provided that, if no Event of Default has occurred or is then continuing, the Borrowers shall only bear such costs and expenses up to an aggregate amount not to exceed US$50,000 in each Fiscal Year. Each Borrower shall, and shall ensure that each of its Subsidiaries will, co-operate fully with any Person preparing such report, or carrying out such investigation.

Hydrocarbon Interests. If the Majority Lenders at any time determine that the production, recovery or transportation of Hydrocarbons with respect to any Hydrocarbon Interest may be impeded or prejudiced in a manner that could reasonably be expected to have a Material Adverse Effect, they shall be entitled to obtain such reports, conduct such investigations and consult with such professional advisors as they may reasonably require (including, without limitation, including appointing an independent environmental expert, insurance advisor or legal advisors) with a view to assessing the ability of the Borrowers and any other Obligor to comply with the terms of this Agreement and any other Loan Document. All costs and expenses incurred by the Majority Lenders in connection with such reports, investigations or consultations shall be borne by the Borrowers; provided that, that if no Event of Default has occurred or is then continuing, the Borrowers shall only bear such costs and expenses up to an aggregate amount not to exceed US$$50,000 in each Fiscal Year. Each Borrower shall, and shall ensure that each of its Subsidiaries will, co-operate fully with any Person preparing such report, or carrying out such investigation.

Hydrocarbon Interests. If the Majority Lenders at any time determine that the production, recovery or transportation of Hydrocarbons with respect to any Hydrocarbon Interest may be impeded or prejudiced in a manner that could reasonably be expected to have a Material Adverse Effect, they shall be entitled to obtain such reports, conduct such investigations and consult with such professional advisors as they may reasonably require (including, without limitation, including appointing an independent environmental expert, insurance advisor or legal advisors) with a view to assessing the ability of the Borrowers and any other Obligor to comply with the terms of this Agreement and any other Loan Document. All costs and expenses incurred by the Majority Lenders in connection with such reports, investigations or consultations shall be borne by the Borrowers; provided that, that if no Event of Default has occurred or is then continuing, the Borrowers shall only bear such costs and expenses up to an aggregate amount not to exceed US$50,000 in each Fiscal Year. Each Borrower shall, and shall ensure that each of its Subsidiaries will, co-operate fully with any Person preparing such report, or carrying out such investigation.