Direct Interests definition
Examples of Direct Interests in a sentence
Each Credit Party has good and defensible title to all proved reserves included in the Direct Interests (for purposes of this Section 4.15, “proved Direct Interests”) described in the most recent Reserve Report provided to the Administrative Agent (other than such proved reserves that have been subsequently disposed of in compliance with this Agreement), free and clear of all Liens except Liens permitted pursuant to Section 7.02.
Each Credit Party has good and defensible title to all proved reserves included in the Direct Interests (for purposes of this Section 4.15, "proved Direct Interests") described in the most recent Reserve Report provided to the Administrative Agent, free and clear of all Liens except Liens permitted pursuant to Section 7.02.
Interests to be declared include all current Direct Interests (i.e. Employment, Consultancy, Current Financial interests or current Patent Ownership).
Each of MIEJ, PEDCO and PEDEVCO agree and acknowledge that the aggregate value of (i) the PEDCO Interest in Condor and (ii) the PEDCO Direct Interests shall be $4,200,000.00 for purposes of the transactions contemplated by this Agreement, the Condor Purchase Agreement, and the Assignment, and the related agreements contemplated hereby and thereby (the “Asset Valuation”).
The PEDCO Direct Interests Sale shall be effected pursuant to the an Assignment, ▇▇▇▇ of Sale and Conveyance, in substantially the form attached hereto as Exhibit B (the “Assignment”).
Subject to the terms and conditions set forth in this Agreement and in reliance upon the representations, warranties, covenants and conditions herein contained, on the Closing Date, PEDCO shall sell, convey, assign, transfer and deliver to MIEJ and MIEJ shall purchase, the PEDCO Direct Interests (the “PEDCO Direct Interests Sale”).