Common use of Prior Operating Statements Clause in Contracts

Prior Operating Statements. Each of the operating statements pertaining to each of the Borrowing Base Properties delivered to Agent prior to the date hereof was prepared in accordance with GAAP in effect on the date such operating statement of each Borrowing Base Property was prepared and fairly presents the results of operations of such Borrowing Base Property for the period then ended.

Prior Operating Statements. Each of the operating -------------------------- statements pertaining to each of the Borrowing Base Properties delivered to the Administrative Agent prior to the date hereof was prepared in accordance with GAAP in effect on the date such operating statement of each Borrowing Base Property was prepared and fairly presents the results of operations of such Borrowing Base Property for the period then ended.