Recognized Value means, with respect to Mineral Interests, the value attributed to such Mineral Interests in the most recent Determination of the Borrowing Base pursuant to Article IV (or for purposes of determining the Initial Borrowing Base in the event no such Determination has occurred), based upon the present value discounted at 10% per annum of the estimated net cash flow to be realized from the production of Hydrocarbons from such Mineral Interests.
Recognized Value means, with respect to Mineral Interests, the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such Mineral Interests as determined by the Administrative Agent for purposes of determining the portion of the Borrowing Base which it attributes to such Mineral Interests in accordance with Section 2.13 hereof.
Recognized Value means the value determined by the Lenders attributed to the Oil and Gas Properties of Borrower and its Subsidiaries from the most recent determination of the Borrowing Base, based upon the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such Oil and Gas Properties and the other standards specified in Section 2.9(a).
Examples of Recognized Value in a sentence
To secure full and complete payment and performance of the Obligations, Borrower shall, and shall cause each of its Restricted Subsidiaries to, grant a first priority Lien (subject to Excepted Liens) against the Proved Oil and Gas Properties of Borrower and its Restricted Subsidiaries pursuant to terms of one or more Mortgages sufficient to cause the Recognized Value of the Mortgaged Properties to be not less than the Required Reserve Value.
The Successor Agent shall have received title opinions and/or other title information and data reasonably acceptable to the Successor Agent covering Proved Oil and Gas Properties that in the aggregate represent not less than 85% of the Recognized Value of all Oil and Gas Properties evaluated in the Specified Reserve Report, reflecting title to such Proved Oil and Gas Properties which is reasonably acceptable to Successor Agent.
More Definitions of Recognized Value
Recognized Value means, with respect to oil and gas properties, the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such oil and gas properties as determined by NationsBank for purposes of determining the portion of the
Recognized Value means, with respect to each Purchased Loan the lesser of (a) the Applicable Purchase Rate of the Market Value of such Purchased Loan and (b) the Applicable Purchase Rate of the outstanding principal balance of such Purchased Loan. Recognized Value shall be zero with respect to each Purchased Loan that is not an Eligible Mortgage Loan.
Recognized Value means, with respect to oil and gas properties, the pre-tax value of such properties determined in accordance with Financial Accounting Standards Board Statement 69, generally known as the "standardized measure of discounted cash flow".
Recognized Value means, (a) with respect to Oil and Gas Properties evaluated in the most recently delivered Reserve Report, the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such Oil and Gas Properties as determined by the Administrative Agent for purposes of determining the portion of the then effective Borrowing Base which it attributes to such Oil and Gas Properties in accordance with Section 2.07, and (b) with respect to any other Oil and Gas Properties, the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such Oil and Gas Properties as determined by the Administrative Agent in the same manner as if it were evaluating such Oil and Gas Properties for purposes of determining the Borrowing Base.
Recognized Value means, with respect to each Eligible Mortgage Loan, the lesser of (x) the product of (i) the Market Value of such Eligible Mortgage Loan, and (ii) the Applicable Purchase Rate for such Eligible Mortgage Loan, and (y) 100% of the unpaid principal balance of such Eligible Mortgage Loan; provided,
Recognized Value is being determined.
Recognized Value means, with respect to the Borrowing Base Properties, the value which Administrative Agent, in its sole discretion, attributes to such Borrowing Base Properties based upon the discounted present value of the estimated net cash flow to be realized from the production of Hydrocarbons from such Borrowing Base Properties.