Gas Imbalance. (a) a sale or utilization by Borrower or any of its Subsidiaries of volumes of natural gas in excess of its gross working interest, (b) receipt of volumes of natural gas into a gathering system and redelivery by Borrower or any of its Subsidiaries of a larger or smaller volume of natural gas under the terms of the applicable transportation agreement, or (c) delivery to a gathering system of a volume of natural gas produced by Borrower or any of its Subsidiaries that is larger or smaller than the volume of natural gas such gathering system redelivers for the account of Borrower or any of its Subsidiaries, as applicable.
Gas Imbalance. Buyer acknowledges and agrees to the following regarding gas imbalances as of the Effective Time on any of the Assets to be transferred pursuant to this Agreement:
Gas Imbalance. (a) a sale or utilization by any Loan Party or any Subsidiary of volumes of natural gas in excess of its gross working interest, (b) receipt of volumes of natural gas into a gathering system and redelivery by any Loan Party or any Subsidiary of a larger or smaller volume of natural gas under the terms of the applicable transportation agreement, or (c) delivery to a gathering system of a volume of natural gas produced by any Loan Party or any Subsidiary that is larger or smaller than the volume of natural gas such gathering system redelivers for the account of any Loan Party or any Subsidiary, as applicable. General Partner: as defined in the preamble hereto.
Gas Imbalance. Xxxxxx represents and warrants that no gas imbalances exist for the Assets, Lease(s) or Leasehold Interests. 4.22
Gas Imbalance. Borrower has no material obligations or liabilities on any contracts or agreements with respect to gas imbalances or other matters where Borrower’s oil and gas production will be substantially curtailed from the levels of production previously experienced with respect to the Property.
Gas Imbalance. Except for the pipeline imbalance reflected on Exhibit G ("Gas Imbalance"), there do not exist any gas imbalances associated with the Subject Property.
Gas Imbalance. The Bank shall have received all information regarding material obligations or liabilities on any contracts or agreements with respect to gas imbalances of the Borrower with respect to the Oil and Gas Properties.
Gas Imbalance. The Borrower has no material obligations or liabilities on any contracts or agreements with respect to gas imbalances or other matters where the Borrower's oil end gas production will be substantially curtailed from the levels of production previously experienced.
Gas Imbalance. Xxxxx acknowledges and agrees to the following regarding gas imbalances as of the Effective Time on any of the Assets to be transferred pursuant to this Agreement:
Gas Imbalance. Upon the occurrence of Closing, but effective as of the Effective Time, Buyer shall succeed to and assume the position of Seller with respect to all gas imbalances and make-up obligations related to the Assets (regardless of whether such imbalances or make-up obligations arise at the wellhead, pipeline, gathering system or other level, and regardless of whether the same arise under contract or otherwise). As a result of such succession, Buyer shall (i) be entitled to receive any and all benefits which Seller would have been entitled to receive by virtue of such position (including, without limitation, rights to produce and receive volumes of production in excess of volumes which it would otherwise be entitled to produce and receive by virtue of ownership of the Interest rights to receive cash balancing payments), and (ii) be obligated to suffer any detriments which Seller would have been obligated to suffer by virtue of such position (including, without limitation, the obligation to deliver to others production volumes which would have otherwise been attributable to its ownership of the Assets, to deliver production to purchasers hereof without receiving full payment therefor, or to make cash balancing payments or to repay take or pay payments) and (iii) shall be responsible for any and all royalty obligations with respect to such imbalances (including, without limitation, any of the same arising out of royalties having been paid on an "entitlements" basis rather than a "receipts" basis).
