Initial Engineering Report. Lenders shall have received the Initial Engineering Report, which shall be in form and substance reasonably satisfactory to Administrative Agent.
Initial Engineering Report. The Administrative Agent and the Lenders shall have received the Initial Engineering Report accompanied by a certificate from an Responsible Officer of the Parent and the Borrower certifying on behalf of the Parent and the Borrower that in all material respects: (i) except as set forth on an exhibit to the certificate, on a net basis there are no gas imbalances, take or pay or other prepayments exceeding 2% of the annual production of natural gas of the Borrower and the Restricted Subsidiaries for the most recent calendar year of gas (on an mcf equivalent basis) in the aggregate with respect to its oil and gas properties evaluated in the Initial Engineering Report that would require the Borrower or any Restricted Subsidiary to deliver Hydrocarbons either generally or produced from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor, (ii) except as set forth on an exhibit to the certificate, there are no material agreements that are not cancelable on ninety (90) days’ notice or less without penalty or detriment for the sale of production from the Borrower’s or the Restricted Subsidiaries’ Hydrocarbons (including calls on or other rights to purchase, production, whether or not the same are currently being, or are expected to be, exercised) that pertain to the sale of production at a fixed price and (iii) attached thereto is a schedule of the Oil and Gas Properties evaluated by the Initial Engineering Report that will be mortgaged properties as of the Closing Date and demonstrating the percentage of the PV9 Value of the Proved Reserves and Proved Developed Producing Reserves evaluated in the Initial Engineering Report that the value of such mortgaged properties represent in compliance with clause (b)(iv) above.
Initial Engineering Report. The Administrative Agent and its counsel and engineers shall have received and reviewed an Internal Engineering Report covering the Oil and Gas Properties of the Borrower and its Restricted Subsidiaries meeting the requirements applicable to such Engineering Reports set forth in this Agreement and otherwise in form and substance satisfactory to the Administrative Agent and the Lenders in their sole discretion (the “Initial Engineering Report”).
Initial Engineering Report. A copy of the Initial Engineering Report, as certified by a duly authorized officer of the Borrower;
Initial Engineering Report. To the extent not already provided to Lenders under the WF Facility, Lenders shall have received the Initial Engineering Report, which shall be in form and substance reasonably satisfactory to Administrative Agent.
Initial Engineering Report. The Administrative Agent and GSO shall have received the Initial Engineering Report, which shall be in form and substance reasonably satisfactory to GSO.
Initial Engineering Report. Agent shall have received satisfactory engineering reports on Borrowers' Oil and Gas Properties.
Initial Engineering Report. (i) Payment of all commitment, facility, agency and other fees required to be paid to any Lender pursuant to any Loan Documents or any commitment agreement heretofore entered into.
Initial Engineering Report. Agent shall have received a satisfactory third-party engineering report with an effective date of December 31, 1999 on their Oil and Gas Properties subsequent to the Plan of Combination issued by Netherland Xxxxxx & Associates. In addition, Borrowers must provide Agent with an internally prepared engineering report on the same properties with an effective date of June 30, 2000.
Initial Engineering Report. Bank shall have received satisfactory engineering reports on the Oil and Gas Properties by November 1, 2006 to be effective as of October 1, 2006.
