HGT Units definition

HGT Units means units of beneficial interest in the Hugoton --------- Royalty Trust.
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Examples of HGT Units in a sentence

  • Company shall submit a certificate to Banks setting forth its proposed reduction to the Borrowing Base that is required under Section 5.05(b)(i) and (ii) above not later than three (3) Business Days after the consummation of a sell or transfer of the HGT Units or ART Units; provided, however, that if Majority Banks, for any reason, disapprove of the proposed Borrowing Base value certified by Company, then Majority Banks shall determine the Borrowing Base.

  • Proceeds from Public Offerings, Sales of Mineral Properties, HGT Units and ART Units, and Additional Sub-Debt...............

  • Effective as of the Effective Date, ---------------------------- the phrase "or the transfer of Mineral Properties to the Proposed Royalty Trust" as it appears in the parenthetical of the first sentence of Section 5.05(a) of the Loan Agreement is deleted and the phrase "or the transfer of Mineral Properties to the Hugoton Royalty Trust or the Permian Texas Royalty Trust or the sale or transfer of any HGT Units or TPT Units" is substituted therefor.

  • The Borrowing Base shall not be reduced upon the issuance of options to members of Company's management to acquire HGT Units and/or TPT Units.

  • Company has granted options to certain ------------------ members of Company's management to acquire HGT Units and TPT Units.

  • The Borrowing Base currently includes an amount that is the product of (a) the entire Borrowing Base value of the undivided interest in the Mineral Properties that were assigned and conveyed by Company to the Hugoton Royalty Trust times (b) a percentage, (i) the numerator of which is the number of HGT Units owned or held by Company and any Subsidiary and (ii) the denominator of which is the number of all issued and outstanding HRT Units.

  • The Borrowing Base currently includes ------------------------- an amount that is the product of (a) the entire Borrowing Base value of the undivided interest in the Mineral Properties that were assigned and conveyed by Company to the Hugoton Royalty Trust times (b) a percentage, ----- (i) the numerator of which is the number of HGT Units owned or held by Company and any Subsidiary and (ii) the denominator of which is the number of all issued and outstanding HGT Units.