Common use of Oil and Gas Reserves Clause in Contracts

Oil and Gas Reserves. The Company and each Restricted Subsidiary is and will hereafter be, in all material respects, the owner of the Oil and Gas that it purports to own from time to time in and under its Oil and Gas Properties, together with the right to produce the same. Such Oil and Gas Properties are not subject to any Lien other than as set forth in the financial statements referred to in Section 6.14, as disclosed in such financial statements to the Lenders in writing prior to the Effective Time and Permitted Liens. All such Oil and Gas has been and will hereafter be produced, sold and delivered by the Company and its Restricted Subsidiaries in accordance in all material respects with all applicable laws and regulations of every Governmental Authority; each of the Company and its Restricted Subsidiaries has complied in all material respects (from the time of acquisition by the Company or a Restricted Subsidiaries) and will hereafter use commercially reasonable efforts to comply with all material terms of each oil, gas and mineral lease comprising its Oil and Gas Properties; and all such material oil, gas and mineral leases under which the Company or a Restricted Subsidiaries is a lessee or co-lessee have been and will hereafter be maintained in full force and effect; provided, however, that nothing in this Section 6.10 shall prevent the Company or its Restricted Subsidiaries from abandoning any well or forfeiting, surrendering or releasing any lease in the ordinary course of business which is not materially disadvantageous in any way to the Lenders and which, in the opinion of the Company or its Restricted Subsidiaries, is in its best interest, and following which the Company and its Restricted Subsidiaries are and will hereafter be in compliance with all obligations hereunder and the other Loan Documents. To the best of the knowledge of the Company and its Restricted Subsidiaries, all of the Hydrocarbon Interests comprising its Oil and Gas Properties are and will hereafter be enforceable in all material respects in accordance with their terms, except as such may be modified by applicable bankruptcy law or an order of a court in equity.

Oil and Gas Reserves. The Company Borrower and each Restricted MarkWest Inc. Operating Subsidiary is and will hereafter be, in all material respects, the owner of the Oil and Gas Hydrocarbon Interests that it purports to own from time to time in and under its Oil and Gas Properties, together with the right to produce the same. Such Oil and Gas Properties The Hydrocarbon Interests are not subject to any Lien other than as set forth in the financial statements referred to in Section 6.14, as disclosed in such financial statements to the Lenders in writing prior to the Effective Time and Permitted Liens. All such Oil and Gas has have been and will hereafter be produced, sold and delivered by the Company and its Restricted Subsidiaries in accordance in all material respects with all applicable laws and regulations of every Governmental Authorityregulations; each of the Company Borrower and its Restricted the MarkWest Inc. Operating Subsidiaries has complied in all material respects (from the time of acquisition by the Company or a Restricted Subsidiaries) and will hereafter use commercially reasonable efforts to comply with all material terms of each oil, gas and mineral lease comprising its Oil and Gas PropertiesHydrocarbon Interests; and all such material oil, gas and mineral leases under which the Company or a Restricted Subsidiaries is a lessee or co-lessee have been and will hereafter be maintained in full force and effect; provided, however, that nothing in this Section 6.10 6.22 shall prevent the Company Borrower or its Restricted the MarkWest Inc. Operating Subsidiaries from (a) selling or otherwise disposing of assets as permitted by Section 7.2.9 or (b) abandoning any well or forfeiting, surrendering surrendering, releasing or releasing defaulting under any lease in the ordinary course of business which is not materially disadvantageous in any way to the Lenders and which, in the opinion of the Company Borrower or its Restricted the MarkWest Inc. Operating Subsidiaries, is in its best interest, provided, that the Borrower and following which the Company and its Restricted MarkWest Inc. Operating Subsidiaries are is and will hereafter be in compliance with all obligations hereunder and the other Loan Documentshereunder. To the best of the knowledge of the Company Borrower all agreements pursuant to which Borrower and its Restricted Subsidiaries, all of the MarkWest Inc. Operating Subsidiaries own their Hydrocarbon Interests comprising its Oil and Gas Properties are and will hereafter be enforceable in all material respects in accordance with their terms, terms except as such may be modified by applicable bankruptcy law or an order of a court in equity.

Oil and Gas Reserves. The Company Borrower and each Restricted Subsidiary is and will hereafter be, in all material respects, the owner of the Oil and Gas Hydrocarbon Interests that it purports to own from time to time in and under its Oil and Gas Properties, together with the right to produce the same. Such Oil and Gas Properties The Hydrocarbon Interests are not subject to any Lien other than as set forth in the financial statements referred to in Section 6.14, as disclosed in such financial statements to the Lenders in writing prior to the Effective Time and Permitted Liens. All such Oil and Gas has have been and will hereafter be produced, sold and delivered by the Company and its Restricted Subsidiaries in accordance in all material respects with all applicable laws and regulations of every Governmental Authorityregulations; each of the Company Borrower and its Restricted Subsidiaries has complied in all material respects (from the time of acquisition by the Company or a Restricted Subsidiaries) and will hereafter use commercially reasonable efforts to comply with all material terms of each oil, gas and mineral lease comprising its Oil and Gas PropertiesHydrocarbon Interests; and all such material oil, gas and mineral leases under which the Company or a Restricted Subsidiaries is a lessee or co-lessee have been and will hereafter be maintained in full force and effect; provided, however, that nothing in this Section 6.10 6.21 shall prevent the Company Borrower or its Restricted Subsidiaries from (a) selling or otherwise disposing of assets as permitted by Section 7.2.9 or (b) abandoning any well or forfeiting, surrendering surrendering, releasing or releasing defaulting under any lease in the ordinary course of business which is not materially disadvantageous in any way to the Lenders and which, in the opinion of the Company Borrower or its Restricted Subsidiaries, is in its best interest, and following which provided, that the Company Borrower and its Restricted Subsidiaries are is and will hereafter be in compliance with all obligations hereunder and the other Loan Documentshereunder. To the best of the knowledge of the Company Borrower all agreements pursuant to which Borrower and its Restricted Subsidiaries, all of the Subsidiaries own their Hydrocarbon Interests comprising its Oil and Gas Properties are and will hereafter be enforceable in all material respects in accordance with their terms, terms except as such may be modified by applicable bankruptcy law or an order of a court in equity.

Oil and Gas Reserves. The Company Borrower and each Restricted Subsidiary is and will hereafter be, in all material respects, the owner of the Oil and Gas Hydrocarbon Interests that it purports to own from time to time in and under its Oil and Gas Properties, together with the right to produce the same. Such Oil and Gas Properties The Hydrocarbon Interests are not subject to any Lien other than as set forth in the financial statements referred to in Section 6.14, as disclosed in such financial statements to the Lenders in writing prior to the Effective Time and Permitted Liens. All such Oil and Gas has have been and will hereafter be produced, sold and delivered by the Company and its Restricted Subsidiaries in accordance in all material respects with all applicable laws and regulations of every Governmental Authorityregulations; each of the Company Borrower and its Restricted Subsidiaries has complied in all material respects (from the time of acquisition by the Company or a Restricted Subsidiaries) and will hereafter use commercially reasonable efforts to comply with all material terms of each oil, gas and mineral lease comprising its Oil and Gas PropertiesHydrocarbon Interests; and all such material oil, gas and mineral leases under which the Company or a Restricted Subsidiaries is a lessee or co-lessee have been and will hereafter be maintained in full force and effect; provided, however, however that nothing in this Section 6.10 6.22 shall prevent the Company Borrower or its Restricted Subsidiaries from (i) selling or otherwise disposing of assets as permitted by Section 7.2.9 or (ii) abandoning any well or forfeiting, surrendering surrendering, releasing or releasing defaulting under any lease in the ordinary course of business which is not materially disadvantageous in any way to the Lenders and which, in the opinion of the Company Borrower or its Restricted Subsidiaries, is in its best interest, and following which provided that the Company Borrower and its Restricted Subsidiaries are is and will hereafter be in compliance with all obligations hereunder and the other Loan Documentshereunder. To the best of the knowledge of the Company Borrower all agreements pursuant to which Borrower and its Restricted Subsidiaries, all of the Subsidiaries own their Hydrocarbon Interests comprising its Oil and Gas Properties are and will hereafter be enforceable in all material respects in accordance with their terms, terms except as such may be modified by applicable bankruptcy law or an order of a court in equity.