Permitted Business Investment definition

Permitted Business Investment means any Investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil, natural gas or other Hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties including:
Permitted Business Investment means any investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business, including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil and gas through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of Oil and Gas Business jointly with third parties, including (i) ownership interests in oil and gas properties, processing facilities, gathering systems, pipelines or ancillary real property interests and (ii) Investments in the form of or pursuant to operating agreements, processing agreements, farm-in agreements, farm-out agreements, development agreements, area of mutual interest agreements, unitization agreements, pooling agreements, joint bidding agreements, service contracts, joint venture agreements, partnership agreements (whether general or limited), subscription agreements, stock purchase agreements and other similar agreements (including for limited liability Companies) with third parties, excluding, however, Investments in corporations other than Restricted Subsidiaries.

Examples of Permitted Business Investment in a sentence

With respect to any period during which any Permitted Business Investment of the type described in clause (a) of the definition of the term “Pro Forma Basis” or Asset Sale of the type described in clause (b) of such definition occurs as permitted pursuant to the terms hereof, the Leverage Ratio, the Interest Coverage Ratio, the Current Ratio and each of the Asset Coverage Ratios shall be calculated with respect to such period and such Permitted Business Investment or Asset Sale on a Pro Forma Basis.

Such designation shall only be permitted if such Restricted Payment, Permitted Investment or Permitted Business Investment would be permitted at that time and such Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary.


More Definitions of Permitted Business Investment

Permitted Business Investment means Investments made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business, including through agreements, transactions, interests or arrangements that permit one to share risk or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties, including without limitation:
Permitted Business Investment means an Investment in any Person the primary business of which consists of a Permitted Business.
Permitted Business Investment means any Investment made by the Company or any Guarantor in assets or properties (including Capital Stock, Debt or any other security or instrument of a Person) that is customary for a Permitted Business for the purpose of actively exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting hydrocarbons through agreements, transactions, interests or arrangements that permit one to share risks or costs of such activities or comply with regulatory requirements regarding local ownership including (1) ownership interests in oil, natural gas, other hydrocarbons and minerals properties or gathering, transportation, processing, storage or related systems (directly or indirectly through any investment vehicle); (2) any operating agreements, working interests, royalty interests, mineral leases, processing agreements, Farm-In Agreements, Farm-Out Agreements, contracts for the sale, transportation or exchange of oil, natural gas and other hydrocarbons, unitization agreements, pooling arrangements, joint bidding agreements, service contracts, area of mutual interest agreements, production sharing agreements or other similar or customary agreements, transactions, properties, interests, or arrangements, and Investments and expenditures in connection therewith or pursuant thereto; and (3)
Permitted Business Investment shall only include Investments in entities that are classified as pass-through entities for U.S. Federal, state and local and foreign income tax purposes.
Permitted Business Investment means any Investment (other than Maintenance Capital Expenditures) directly related to the TRISM Business, as it is conducted as of the Issue Date, made by the expenditure of cash or Cash Equivalents (or by assumption or incurrence of Indebtedness to the extent permitted by Section 4.13(e) hereof); provided, however, that (i) the aggregate of all Permitted Business Investments in any Yearly Period shall not exceed $5 million (or, in the case of a Yearly Period consisting of less than 365 days, a proportionally lower amount based upon the number of days in such Yearly Period), and (ii) any Permitted Business Investment which individually or together with any similar or related Permitted Business Investments and Permitted Business Investments constituting part of a common plan or series of transactions involves an Investment of an amount of $2.5 million or more must be approved by the Board of Directors as evidenced by a Board Resolution.