Common use of Marketing Activities Clause in Contracts

Marketing Activities. The Borrower shall not, and shall not permit any of the Borrower’s Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (a) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their Proved Reserves attributable to Oil and Gas Properties during the period of such contract, (b) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from Proved Reserves attributable to Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Borrower and the Borrower’s Subsidiaries that the Borrower or one of the Borrower’s Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (c) other contracts for the purchase or sale of Hydrocarbons of third parties (i) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (ii) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Borrower shall will not, and shall will not permit any of the Borrower’s Subsidiaries Restricted Subsidiary or any Sponsored Partnership to, engage in any material respect in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (ai) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their Proved Reserves attributable to proved Oil and Gas Properties Interests during the period of such contract, (bii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from Proved Reserves attributable to proved Oil and Gas Properties Interests of third parties during the period of such contract associated with the Oil and Gas Properties Interests of the Borrower Borrower, its Restricted Subsidiaries and the Borrower’s Subsidiaries Sponsored Partnerships that the Borrower or one of the Borrower’s its Restricted Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (ciii) other contracts for the purchase or and/or sale of Hydrocarbons of third parties (iA) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (iiB) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Borrower shall will not, and shall will not permit any of the Borrower’s Subsidiaries Restricted Subsidiary to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (ai) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their Proved Reserves attributable to Oil and Gas Properties of the Borrower and its Subsidiaries during the period of such contract, (bii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from Proved Reserves attributable to Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Borrower and the Borrower’s its Subsidiaries that the Borrower or one of the Borrower’s its Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and business, (ciii) other contracts for the purchase or and/or sale of Hydrocarbons of third parties (iA) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (iiB) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty theretothereto and (iv) other contracts for the purchase and/or sale of Hydrocarbons of third parties in order to utilize unused contracted transportation or storage capacity of the Borrower or any of its Restricted Subsidiaries so long as such contracts do not expose the Borrower or any of its Restricted Subsidiaries to any material commodity price risk.

Marketing Activities. The Borrower shall will not, and shall will not permit any of the Borrower’s its Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons attributable to the Borrowing Base Properties or enter into any contracts related thereto other than (ai) contracts for the sale of Hydrocarbons attributable to the Borrowing Base Properties scheduled or reasonably estimated to be produced therefrom during the period of such contract, (ii) contracts for the sale of such Hydrocarbons scheduled or reasonably estimated to be produced from their Proved Reserves attributable to Oil and Gas Properties during the period of such contract, (b) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from Proved Reserves attributable to Oil and Gas proved Borrowing Base Properties of third parties during the period of such contract associated with the Oil and Gas Borrowing Base Properties of the Borrower and the Borrower’s its Restricted Subsidiaries that the Borrower or one of the Borrower’s its Restricted Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and business, (ciii) other contracts for the purchase or and/or sale of such Hydrocarbons of third parties (iA) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (iiB) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto, and (iv) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be received from third parties for processing by the Borrower or any Restricted Subsidiary.

Marketing Activities. The Borrower shall will not, and shall will not permit any of the Borrower’s its Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons attributable to the Borrowing Base Properties or enter into any contracts related thereto other than (a) contracts for the sale of Hydrocarbons attributable to the Upstream Component Properties scheduled or reasonably estimated to be produced from their Proved Reserves attributable to Oil and Gas Properties therefrom during the period of such contract, (b) contracts for the sale of such Hydrocarbons scheduled or reasonably estimated to be produced from Proved Reserves attributable to Oil and Gas proved Upstream Component Properties of third parties during the period of such contract associated with the Oil and Gas Upstream Component Properties of the Borrower and the Borrower’s its Restricted Subsidiaries that the Borrower or one of the Borrower’s its Restricted Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and business, (c) other contracts for the purchase or and/or sale of such Hydrocarbons of third parties (i) which have generally offsetting provisions (i.e. i.e., corresponding pricing mechanics, delivery dates and points and volumes) such that no material “position” is taken and (ii) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto, and (d) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be received from third parties for processing by the Borrower or any Restricted Subsidiary.

Marketing Activities. The Borrower shall will not, and shall will not permit any of the Borrower’s Subsidiaries Restricted Subsidiary to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (ai) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their Proved Reserves attributable to Oil and Gas Properties of the Borrower and its Subsidiaries during the period of such contract, (bii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced 101 from Proved Reserves attributable to Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Borrower and the Borrower’s its Subsidiaries that the Borrower or one of the Borrower’s its Subsidiaries has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and business, (ciii) other contracts for the purchase or and/or sale of Hydrocarbons of third parties (iA) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (iiB) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty theretothereto and (iv) other contracts for the purchase and/or sale of Hydrocarbons of third parties in order to utilize unused contracted transportation or storage capacity of the Borrower or any of its Restricted Subsidiaries so long as such contracts do not expose the Borrower or any of its Restricted Subsidiaries to any material commodity price risk.