Internal Reserves Change Report definition

Internal Reserves Change Report means a report prepared by a petroleum engineer or engineers who may be employees of the Borrower, to be dated effective on or about August 31 of the calendar year in which such report is to be delivered by the Borrower pursuant to Section 9.1(d) (or such other date as may be acceptable to the Agent), which report identifies all material changes and additions to, and deletions from, the reserves associated with the Borrowing Base Properties since the date of the last Independent Engineering Report delivered by the Borrower to the Agent, having regard to the Borrowing Base most recently determined or re-determined by the Lenders, and in connection with that report the Borrower shall make available to the Agent upon request by the Agent all data, information and materials which would be required by an independent petroleum engineer in order to prepare an Independent Engineering Report for the Borrowing Base Properties which are subject to such changes, additions or deletions, and any other information as the Agent may reasonably request;
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Internal Reserves Change Report means a report prepared by a petroleum engineer or engineers who may be employees of the Company, to be dated effective on or about August 31 of the calendar year in which such report is to be delivered by the Company pursuant to the Investor Side Letter (or such other date as may be acceptable to the Senior Administrative Agent), which report identifies all material changes and additions to, and deletions from, the reserves associated with the Borrowing Base Properties since the date of the last Independent Engineering Report delivered by the Company to the Senior Administrative Agent, having regard to the Borrowing Base most recently determined or re-determined by the Senior Lenders, and in connection with that report the Company shall make available to the Senior Administrative Agent upon request by the Senior Administrative Agent all data, information and materials which would be required by an independent petroleum engineer in order to prepare an Independent Engineering Report for the Borrowing Base Properties which are subject to such changes, additions or deletions, and any other information as any Holder may reasonably request.
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Internal Reserves Change Report means a report prepared by a petroleum engineer or engineers who may be employees of the Issuer, to be dated effective on or about August 31 of the calendar year in which such report is to be delivered by the Issuer pursuant to Section 10.1(d) (or such other date as may be acceptable to the Senior Administrative Agent), which report identifies all material changes and additions to, and deletions from, the reserves associated with the Borrowing Base Properties since the date of the last Independent Engineering Report delivered by the Issuer to the Senior Administrative Agent, having regard to the Borrowing Base most recently determined or re-determined by the Senior Lenders, and in connection with that report the Issuer shall make available to the Senior Administrative Agent upon request by the Senior Administrative Agent all data, information and materials which would be required by an independent petroleum engineer in order to prepare an Independent Engineering Report for the Borrowing Base Properties which are subject to such changes, additions or deletions, and any other information as any Holder may reasonably request;
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Examples of Internal Reserves Change Report in a sentence

  • The determination of the Borrowing Base at any other times may be based upon an Internal Reserves Change Report unless an updated Independent Engineering Report is otherwise available.

  • The determination of the Borrowing Base on November 30 of any year will be based upon the Internal Reserves Change Report or Independent Engineering Report provided under Section 9.1(d)(ii).

Related to Internal Reserves Change Report

  • Initial Reserve Report means the report prepared by or under the supervision of the chief engineer of the Borrower with respect to certain Oil and Gas Properties of the Borrower and its Restricted Subsidiaries as of December 31, 2018.

  • Annual Accountant’s Report is defined in Section 3.04(a) of the Servicing Agreement.

  • Auditor’s Report means the auditor’s report on the Financial Report; “AEDT” means Australian Eastern Daylight Time.

  • Accountants’ Report means the report of a firm of nationally recognized Independent Accountants described in Section 4.11.

  • Initial Engineering Report means the engineering report concerning Oil and Gas Properties of Loan Parties dated as of June 30, 2016, prepared internally by the Borrower.

  • Benchmarking Report means the report produced by the Supplier following the Benchmark Review and as further described in this Framework Schedule 7;

  • Financial Report means the annual financial report prepared under Chapter 2M of the Corporations Act for the Company and its controlled entities;

  • GLJ Report means the independent engineering reserves evaluation of certain oil, NGL and natural gas interests of the Company prepared by GLJ dated February 11, 2022 and effective December 31, 2021.

  • Engineering Report means the Initial Engineering Report and each engineering report delivered pursuant to Section 6.2.

  • Audited financial report means and includes those items specified in Section 5 of this regulation.

  • MERS Report The report from the MERS System listing MERS Designated Mortgage Loans and other information.

  • Independent Engineering Report means a report, in form and substance satisfactory to the Administrative Agent and each of the Lenders, prepared by an Independent Engineer, addressed to the Administrative Agent and the Lenders with respect to the Oil and Gas Properties owned by the Borrower or its Subsidiaries (or to be acquired by the Borrower or any of its Subsidiaries, as applicable) which are or are to be included in the Borrowing Base, which report shall (a) specify the location, quantity, and type of the estimated Proven Reserves attributable to such Oil and Gas Properties, (b) contain a projection of the rate of production of such Oil and Gas Properties, (c) contain an estimate of the net operating revenues to be derived from the production and sale of Hydrocarbons from such Proven Reserves based on product price and cost escalation assumptions specified by the Administrative Agent and the Lenders, and (d) contain such other information as is customarily obtained from and provided in such reports or is otherwise reasonably requested by the Administrative Agent or any Lender.

  • Evaluation Report means a report on the evaluation of tenders prepared under CSO 12

  • Technical Report means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report that includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report; and

  • Publicly available information means information that is

  • Current Report shall have the meaning assigned to such term in Section 2.3.

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Final Report means the report described as a final report in 14 RCW 42.17.080(2).

  • Geotechnical report means a scientific study or evaluation conducted by a qualified expert that includes a description of the ground and surface hydrology and geology, the affected land form and its susceptibility to mass wasting, erosion, and other geologic hazards or processes, conclusions and recommendations regarding the effect of the proposed development on geologic conditions, the adequacy of the site to be developed, the impacts of the proposed development, alternative approaches to the proposed development, and measures to mitigate potential site-specific and cumulative geological and hydrological impacts of the proposed development, including the potential adverse impacts to adjacent and down-current properties. Geotechnical reports shall conform to accepted technical standards and must be prepared by qualified professional engineers or geologists who have professional expertise about the regional and local shoreline geology and processes.

  • Directors Report means the annual directors’ report prepared under Chapter 2M of the Corporations Act for the Company and its controlled entities;

  • insider report means a statement required to be filed pursuant to Section 16 of the Exchange Act (or any successor provisions), by a person who is a director of the Corporation or who is directly or indirectly the beneficial owner of more than ten percent of the shares of the Corporation.

  • Parent Reports has the meaning set forth in Section 4.5(a).

  • Financial Reports means the Annual Financial Statements and the Interim Accounts.