Title Assurances. Without limitation of any other requirements contained in this Agreement and the other Loan Documents, Borrower shall, (a) upon request by Administrative Agent, deliver to Administrative Agent title opinions and/or other title information and data acceptable to Administrative Agent regarding the Oil and Gas Properties of Borrower and its Subsidiaries that in the aggregate represent not less than 80% of the Recognized Value of all Proved Oil and Gas Properties evaluated in the most recent Reserve Report; and (b) promptly, but in any event within 30 days after notice by Administrative Agent of any defect, material in the opinion of Administrative Agent, in the title of the mortgagor under any Mortgage to any Oil and Gas Property covered thereby, clear such title defect, and in the event any such title defects are not cured in a timely manner, pay all related costs and fees incurred by Administrative Agent and Lenders in attempting to do so.
Appears in 5 contracts
Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)
