Common use of Subsequent Fundings Clause in Contracts

Subsequent Fundings. Each Subsequent Funding is intended -------------------- to be used to fund all or a portion of additional development of the Borrower's Oil and Gas Properties in accordance with the Development Plan, future legal costs in connection with this Agreement, payment of the Commitment Fee and as is otherwise set forth in Section 2.03(b) and must comply with the conditions precedent set forth in Section 7.02 and Section 7.03. The Lenders shall not be obligated to advance any funds in connection with a Subsequent Funding unless the conditions precedent with respect thereto have been satisfied to the Lenders' satisfaction. Upon satisfaction of the conditions to a Subsequent Funding, such funding shall occur in accordance with Section 2.02 and Section 2.03.