Ad Valorem and Severance Taxes; Litigation Sample Clauses

Ad Valorem and Severance Taxes; Litigation. (a) Each Loan Party has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Loan Party's knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Loan Party's title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom.
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Ad Valorem and Severance Taxes; Litigation. Each Restricted Person has paid and discharged all ad valorem taxes that are payable and have been assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes that are payable and have been assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Restricted Person’s knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Restricted Person’s title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom.
Ad Valorem and Severance Taxes; Litigation. Each Restricted Person has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Restricted Person’s knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Restricted Person’s title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom.
Ad Valorem and Severance Taxes; Litigation. Each Loan Party has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. Except as set forth on SCHEDULE 3.09, there are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Loan Party's knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Loan Party's title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom , which could reasonably be expected to result in (i) liability of any Loan Party in an amount in excess of $2,500,000 or (ii) in injunctive relief against any Loan Party which could reasonably be expected to result in a Material Adverse Effect.
Ad Valorem and Severance Taxes; Litigation. Each Credit Party has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Credit Party’s knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Credit Party’s title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom.
Ad Valorem and Severance Taxes; Litigation. Except as set forth in Section 5.22 of the Disclosure Schedule, each Restricted Person has paid and discharged all ad valorem taxes that are payable and have been assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes that are payable and have been assessed against, or measured by, the production or the value, or proceeds, of the production therefrom, except taxes which are not yet delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Restricted Person’s knowledge, threatened) which might affect the Oil and Gas Property, including any which challenge or otherwise pertain to any Restricted Person’s title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom, which could reasonably be expected to cause a Material Adverse Change or materially impair any Collateral.
Ad Valorem and Severance Taxes; Litigation. Each Credit Party has paid and discharged all ad valorem taxes assessed against its Coal Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. Except as disclosed in Section 5.24 of the Disclosure Schedule, there are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Credit Party's knowledge, threatened) which might affect the Coal Property, including any which challenge or otherwise pertain to any Credit Party's title to any Coal Property or rights to Mine Coal therefrom.
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Ad Valorem and Severance Taxes; Litigation. Company and each of its Subsidiaries has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. There are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Credit Party's knowledge, threatened) which might adversely affect any Oil and Gas Property of Company or any Subsidiary, including any which challenge or otherwise pertain to any such Credit Party's title to any Oil and Gas Property or rights to produce and sell oil and gas therefrom.
Ad Valorem and Severance Taxes; Litigation. Each Loan Party and all of its respective Subsidiaries have paid and discharged all ad valorem taxes assessed against their respective Oil and Gas Property or any part thereof and all production, severance and other Taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom other than any such Taxes that are being contested in good faith in accordance with Section 6.7 and for which, if necessary, adequate reserves have been set aside in accordance with GAAP. Except as set forth in Section 5.24 of the Disclosure Schedule, there are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Loan Party’s or any of its respective Subsidiaries’ knowledge, threatened) which challenge or otherwise pertain to any Loan Party’s or any of its respective Subsidiaries’ title to any of its Oil and Gas Properties covered by the most recently delivered Engineering Report or rights to produce and sell oil and gas therefrom. 62 [FIFTH AMENDED AND RESTATED CREDIT AGREEMENT]
Ad Valorem and Severance Taxes; Litigation. Each Restricted Person has paid and discharged all ad valorem taxes assessed against its Oil and Gas Property or any part thereof and all production, severance and other Taxes assessed against, or measured by, the production or the value, or proceeds, of the production therefrom. Except as set forth in Section 5.24 of the Disclosure Schedule (as supplemented by Borrowers from time to time in writing to Administrative Agent), there are no suits, actions, claims, investigations, inquiries, proceedings or demands pending (or, to any Restricted Person’s knowledge, threatened) which challenge or otherwise pertain to any Restricted Person’s title to any of its Oil and Gas Properties covered by the most recently delivered Engineering Report or rights to produce and sell oil and gas therefrom.
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