Incurrence Sample Clauses

Incurrence. Subject to the additional limitation in Section 9.16(a)(ii) (B) below, the Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter into any Swap Agreement for speculative purposes or with a duration longer than five years from the date the applicable Swap Agreement is entered into; provided that, the Hedged Volume in any month, determined at the time such Swap Agreement is entered into and after giving effect thereto (the “Measurement Date”), shall not exceed for each month during the period during which such Swap Agreement is in effect, the greater of (A) 100% of the anticipated projected production from proved, developed, producing Oil and Gas Properties set forth in the most recently delivered Reserve Report (subject to the following sentence), and (B) volumes set forth in the grid below for the applicable period as determined (subject to the following sentence) by reference to the Reserve Report most recently delivered to the Administrative Agent:Volumes Covered by Swap Agreements 100% of the anticipated projected production from proved Oil and Gas Properties First 24 months after the Measurement Date Volumes Covered by Swap Agreements 85% of the anticipated projected production from proved Oil and Gas Properties Months 25 — 60 after the Measurement Date For purposes of entering into or maintaining Swap Agreement trades or transactions under this Section 9.16(a)(i), forecasts of reasonably anticipated production from the Borrower’s and its Restricted Subsidiaries’ proved Oil and Gas Properties as set forth on the most recent Reserve Report delivered pursuant to the terms of this Agreement shall be revised to account for any increase or decrease therein anticipated because of information obtained by the Borrower or any of its Restricted Subsidiaries subsequent to the publication of such Reserve Report including the Borrower’s or any of its Restricted Subsidiaries’ internal forecasts of production decline rates for existing wells and additions to or deletions from anticipated future production from new wells and completed acquisitions coming on stream or failing to come on stream.
Incurrence. The Company may, after March 30, 1996, incur additional Indebtedness so long as each of the fol- lowing conditions shall be satisfied: Credit Agreement - 94 -
Incurrence. Ultimate Parent will not, and will not permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee, or otherwise become directly or indirectly liable with respect to, any Indebtedness, unless on the date Ultimate Parent or such Subsidiary becomes liable with respect to any such Indebtedness and immediately after giving effect thereto and the concurrent retirement of any other Indebtedness: