Examples of Oil and Gas Properties in a sentence
All of the rents, royalties, and other payments due and payable under such leases, contracts, servitudes, and other agreements, or under any Permitted Liens, or otherwise attendant to the ownership or operation of any Oil and Gas Properties covered by the most recently delivered Engineering Report, have been properly and timely paid in all material respects (other than royalty payments suspended in the ordinary course of business).
Without limiting the foregoing, the proposed Borrowing Base and Mandatory Commitment Reduction shall be determined based upon the interests of the Restricted Persons in their Oil and Gas Properties.
The Administrative Agent shall have received existing reports and other material information that have been reasonably requested, in form, scope, and substance reasonably satisfactory to the Administrative Agent, regarding environmental matters relating to the Restricted Persons’ Oil and Gas Properties.
The leases, contracts, servitudes, and other agreements forming a part of the Oil and Gas Properties of the Restricted Persons covered by the most recently delivered Engineering Report are in full force and effect in all material respects (except those disposed of in accordance with, and to the extent permitted by, the terms hereof since delivery of such Engineering Report).
No Restricted Person is in default with respect to its obligations under any such leases, contracts, servitudes, and other agreements, or under any Permitted Liens, or otherwise attendant to the ownership or operation of any part of the Oil and Gas Properties covered by the most recently delivered Engineering Report, where such default could adversely affect the ownership or operation of such Oil and Gas Properties in any material respect.