Common use of Other Contracts and Commitments Clause in Contracts

Other Contracts and Commitments. Neither the Company nor any of the Drilling Partnerships has outstanding (i) any contract, bid or offer to provide services to third parties which (A) the Company knows or has reason to believe is at a price or on terms which would not result in a net profit to the Company in providing such services, or (B) includes terms and conditions the Company or the applicable Partnership cannot reasonably expect to satisfy or fulfill in their entirety; (ii) any revocable or irrevocable power of attorney to any person, firm or corporation for any purpose whatsoever; (iii) any loan agreement, indenture, promissory note, conditional sales agreement or other similar type of agreement, except to the extent the indebtedness thereunder is reflected on the September 30, 1997 Financial Statements (including inter-Company indebtedness eliminated by principles of consolidation), (iv) any forward sale, swap or other type of hedging agreement or commitment, or (v) except as disclosed on Schedule 4.5 or Schedule 4.16, any other material contract or commitment not directly related to operations on the Properties and which is not cancelable without liability or penalty on sixty (60) days notice or less.

Other Contracts and Commitments. Neither the Company nor any of the Drilling Partnerships Companies nor Sycamore nor NE 23rd has outstanding (i) any contract, bid or offer to provide services to third parties which (A) the Company knows Sellers know or has have reason to believe is at a price or on terms which would not result in a net profit to the Company loss in providing such services, or (B) includes terms and conditions the Company Companies, Sycamore or the applicable Partnership NE 23rd cannot reasonably expect to satisfy or fulfill in their entirety; (ii) any revocable or irrevocable power of attorney to any person, firm or corporation for any purpose whatsoever; (iii) any loan agreement, indenture, promissory note, conditional sales agreement or other similar type of agreement, except to the extent the indebtedness thereunder is reflected on the September 30August 31, 1997 1996 Financial Statements (including inter-Company indebtedness eliminated by principles of consolidation), ; or (iv) any forward sale, swap or other type of hedging agreement or commitment, or (v) except as disclosed on Schedule 4.5 or Schedule 4.164.5, any other material contract or commitment not directly related to operations on the Properties and which is not cancelable without liability or penalty on sixty (60) days notice or less.