Joint Interest Billing Statement. The Borrower will pay timely the amount that the Borrower is required to pay pursuant to each Joint Interest Billing Statement that it receives unless the Borrower is contesting all or a portion of the amount in good faith by appropriate action and for which adequate reserves are being maintained in accordance with GAAP and promptly gave the Lender written notice to the Lender that the Borrower would be contesting.
Appears in 2 contracts
Sources: Secured Revolving Credit Agreement (Black Ridge Oil & Gas, Inc.), Secured Revolving Credit Agreement (Black Ridge Oil & Gas, Inc.)