Common use of Updated Development Plan Clause in Contracts

Updated Development Plan. As long as there are outstanding Term Loans, contemporaneous with the delivery of each Reserve Report bearing an effective date as of January 1st of any year, Borrower will prepare and deliver to Administrative Agent a revised, proposed Development Plan covering at least the next twelve (12) months and setting forth all capital expenditure development projects proposed for that period, the anticipated timing of those projects, the net cost of each of those projects to Borrower and any other information that Administrative Agent may request. Each proposed modification to the Development Plan will be subject to the approval of Administrative Agent, and Borrower acknowledges that Administrative Agent is not required to approve any proposed modification to the Development Plan. Until Administrative Agent has approved a revised Development Plan, the most recent approved Development Plan (and all AFEs approved in connection with that most recently approved Development Plan) will remain in effect.

Updated Development Plan. As long as there are outstanding Term Loans, contemporaneous Contemporaneous with the delivery of each Reserve Report bearing an effective date as of January 1st of any year, Borrower will prepare and deliver to Administrative Agent a revised, proposed Development Plan covering at least the next twelve (12) months and setting forth all capital expenditure development projects proposed for that period, the anticipated timing of those projects, the net cost of each of those projects to Borrower and any other information that Administrative Agent may request. Each proposed modification to the Development Plan will be subject to the approval Approval of Administrative Agent, and Borrower acknowledges that Administrative Agent is not required to approve Approve any proposed modification to the Development Plan. Until Administrative Agent has approved Approved a revised Development Plan, the most recent approved Approved Development Plan (and all AFEs approved Approved in connection with that most recently approved Approved Development Plan) will remain in effect.

Updated Development Plan. As long as there are outstanding Term LoansUntil the Termination Date, contemporaneous with the delivery of each Reserve Report bearing required to be delivered hereunder, an effective date as of January 1st of any year, Borrower will prepare and deliver to Administrative Agent a revised, updated proposed Development Plan covering at least the next twelve six (126) months and setting forth all capital expenditure expenditures for all development projects proposed for that period, the anticipated timing of those projects, the net cost of each of those projects to Borrower Borrowers and any other information that Administrative Agent may request. Each proposed modification to the Development Plan will be subject to the approval Approval of Administrative Agent, and Borrower acknowledges Borrowers acknowledge that Administrative Agent is not required to approve Approve any proposed modification to the Development Plan. Until Administrative Agent has approved Approved a revised Development Plan, the most recent approved Approved Development Plan (and all AFEs approved authorizations for expenditures Approved in connection with that most recently approved Approved Development Plan) will remain in effect.