Common use of Oil and Gas Reserve Reports Clause in Contracts

Oil and Gas Reserve Reports. (a) Deliver to each Lender, no later than the last day of March of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority Lenders, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of such reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- balancing liabilities of the Related Parties (designated by entity).

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Lender no later than the last day of March February 15 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, and upon Lender's request, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Lender no later than the last day of March 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Borrowing Base Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Borrowing Base Oil and Gas Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, Lender no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersAgent and each Lender, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Agent and each Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Agent no later than the last day of March May 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersAgent, certified by Rxxxx Xxxxx Company or by any nationally- nationally or regionally-regionally- recognized independent consulting petroleum engineers acceptable to the Majority Lenders Agent, as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "“take-or-pay," "” “prepayment," ” and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Lender no later than the last day of March April 1 of each year during the term of this Credit Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Lender no later than the last day of March of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of such reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity).

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority Agent and the Lenders, certified by any nationally- or regionally-regionally- recognized independent consulting petroleum engineers acceptable to the Majority Agent and the Lenders as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority Agent and the Lenders, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Agent and the Lenders as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersAgent, certified by any nationally- or regionally-recognized independent consulting petroleum engineers reasonably acceptable to the Majority Lenders as Agent, fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties as of each December 31 of the Related Parties (designated by entity) as of January 1 of the immediately preceding year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil Mortgaged Properties that are proved and Gas Propertiesproducing reserves, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrowers.

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, --------------------------- Lender no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersAgent, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Agent as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver The Borrower shall deliver to each Lender, the Lender no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, certified by any nationally- nationally or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender, as fairly and accurately setting forth (i) the proven proved and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of such proved and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proved and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrower.

Oil and Gas Reserve Reports. (a) Deliver to each Lender, the Lender no later than the last day of March April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Majority LendersLender, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Majority Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Borrowing Base Oil and Gas Properties of each of the Related Parties (designated by entity) as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Borrowing Base Oil and Gas Properties, discounted at a stated per annum discount rate of such proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "“take-or-pay," "” “prepayment," ” and gas- gas-balancing liabilities of the Related Parties (designated by entity)Borrowers.