Common use of Post-Closing Commitments Clause in Contracts

Post-Closing Commitments. As soon as is practical following the Closing, but no later than June 30, 2016 as to clause (d) and clause (e) of this Section 5.24 and notwithstanding any grace period applicable to this Section 5.24 pursuant to the provisions of Section 7.1, provide the following to the Agent: (a) all of the Direction Letters, reflecting execution of each of such letters by the addressee thereof; (b) to the extent not provided as of the Closing Date, certificates evidencing all Equity Interests of the relevant Borrower accompanied by a transfer power, in form acceptable to the Agent, executed in blank by the designated owner of each relevant certificate; (c) one or more policies of title insurance, in an amount or amounts reasonably designated by the Agent, issued by Chicago Title, each covering the surface ownership of one or more tracts subject to the East LA PSA or the Sansinena PSA as to which MI acquired, on the Closing Date and after giving effect to the conveyance or conveyances by MI to Sunny Frog Oil, LLC pursuant to the Joint Acquisition Agreement, fee simple title; (d) valid legal descriptions for all of the Oil and Gas Properties in the State of Colorado owned by any of the Borrowers; title materials in support of the ownership of such Oil and Gas Properties; and Security Documents necessary under the laws of the State of Colorado to establish a Lien in favor or for the benefit of the Agent against such Oil and Gas Properties; and (e) a certificate of a Financial Officer or Responsible Officer of MOC, in form and substance reasonably satisfactory to the Agent, certifying that the accounts payable of the Borrowers or any of them listed on Schedule 5.24(e) have been paid in full and including supporting documentation reasonably satisfactory to the Agent.