LMR Reporting Sample Clauses

LMR Reporting. The Borrower will furnish to the Agent: (i) within 120 days after the end of each Fiscal Year: (A) a copy of a consolidated annual budget of the Loan Parties, including (i) the minimum amount of expenditures for the purposes of asset retirement and abandonment and reclamation liabilities required by the AER or any other Energy Regulator during such Fiscal Year and (ii) an estimate of the present and future, direct and indirect, absolute and contingent costs, liabilities, expenditures and obligations of the Loan Parties for the abandonment, restoration, reclamation or other remediation of the ▇▇▇▇▇, facilities, pipelines, storage sites and other assets and the properties on which the Loan Parties have carried on business, in form and substance satisfactory to the Agent, acting reasonably; and (B) a decommissioning schedule for the current Fiscal Year disclosing the forecasted decommissioning and abandonment activities for all of the Loan Parties’ ▇▇▇▇▇, pipelines, storage sites and other assets and the properties on which the Loan Parties’ have carried on business, in form and substance satisfactory to the Agent, acting reasonably, (collectively, the “Annual Abandonment Budget and Schedule”); (ii) concurrently with the delivery of each Compliance Certificate required to be delivered pursuant to Section 12.2(b), a completed ARO Report and Decommissioning Expense Worksheet setting out (A) any updates to the most recently provided Annual Abandonment Budget and Schedule, (B) the amount the Loan Parties have expended on expenditures for the purposes of asset retirement and abandonment and reclamation liabilities during the applicable Fiscal Year with a comparison against the Minimum ARO Spend (including any amounts covered under the Government of Alberta’s Site Rehabilitation Program shall be included in the calculation of the Loan Parties’ expenditures for the purposes of asset retirement and abandonment and reclamation liabilities) and (C) how the Loan Parties have performed against the budgeted amount in the applicable Annual Abandonment Budget and Schedule, with an explanation from management to explain any material variations therefrom and any other matters related to any changes in the Borrower’s abandonment and reclamation policies; (iii) promptly: (A) upon receipt thereof by any Loan Party: (I) any Abandonment/Reclamation Orders or other notices or communications related to any directives, rules, regulations or other orders issued by any applicable Energ...