Commodity Price Protection Sample Clauses

Commodity Price Protection. (a) Upon the request of the Required Lenders, the Loan Parties shall enter into and maintain Hedging Agreements (consisting of swaps, costless collars, put options or a combination of all three, at Borrower’s discretion) that (i) are for not more than 80% of the Projected Product ion, measured at the time of entry into such Hedging Agreement, of Borrower’s and its Subsidiaries’ aggregate Projected Production anticipated to be sold in the ordinary course of such Persons’ business and having minimum floor prices that are acceptable to Agent in its sole discretion and (ii) comply with Section 6.16.
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Commodity Price Protection. (a) If requested in writing by Agent, within ten Business Days after such request, the Loan Parties shall enter into and maintain Hedging Agreements that (i) cover up to 50% of the Projected Oil and Gas Production consisting of crude oil and natural gas liquids and up to 50% of the Projected Oil and Gas Production consisting of natural gas (consisting of swaps, costless collars or put options or a combination all three), in each case, measured at the time of entry into such Hedging Agreement, of the Loan Parties’ and their Subsidiaries’ aggregate Projected Oil and Gas Production anticipated to be sold in the ordinary course of such Persons’ business for the period requested by Agent (but, in any event, such period shall not extend beyond the date that is six months after the Maturity Date), and having minimum floor prices that are acceptable to Agent in its reasonable discretion and (ii) comply with Section 6.15. Agent may also require extensions of any Hedging Agreements up to six months beyond the Maturity Date while Loans or any other Obligations remain outstanding.
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Commodity Price Protection. (a) On or before the Closing Date, enter into, and at all times thereafter maintain, (i) Qualified Hedging Agreements for not less than 50% of the Projected Oil and Gas Production for each month, for the aggregate crude oil and natural gas, calculated separately, (A) during the succeeding 12-month period following the Closing Date for crude oil and (B) during the period of months 2 through 12 following the Closing Date for natural gas; provided that, the Borrower may satisfy the requirements set forth in this Section 5.11(a)(i)(B) for natural gas by hedging additional crude oil volumes (the “Additional Oil Xxxxxx”) during the period of months 1 through 6 following the Closing Date (it being agreed and understood that for purposes of calculating the Additional Oil Xxxxxx for any month, one (1) barrel of crude oil shall be equal to 30 Mmbtu of natural gas) and (ii) Qualified Hedging Agreements for not less than 25% of Projected Oil and Gas Production for each month, for each of crude oil and natural gas, calculated together, during the period of months 13 through 24 following the Closing Date (the Qualified Hedge Agreements described in the foregoing clauses (i) and (ii) collectively, the “Closing Date Hedging Agreements”). All Closing Date Hedging Agreements shall be described on Schedule 5.11(a). For purposes of this Section 5.11(a), Projected Oil and Gas Production shall be as detailed in the Initial Reserve Report.
Sample 1
Commodity Price Protection. (a) Upon request by the Agent, the Loan Parties shall enter into and maintain Hedging Agreements that (i) are for not less than 50% of the Projected Oil and Gas Production consisting of crude oil and natural gas liquids and not less than 50% of the Projected Oil and Gas Production consisting of natural gas (consisting of swaps, costless collars or put options or a combination all three), in each case, measured at the time of entry into such Hedging Agreement, of Borrower’s and its Subsidiaries’ aggregate Projected Oil and Gas Production anticipated to be sold in the ordinary course of such Persons’ business for a period of not less than 42 months (which may be required in the sole discretion of Agent to be extended beyond the Maturity Date if any Loans remain outstanding after such date), and having minimum floor prices that are acceptable to Agent in its sole discretion and (ii) comply with Section 6.15.
Sample 1
Commodity Price Protection. No later than the Closing Date, Borrower shall enter into and thereafter maintain Qualified Hedging Agreements that (i) provide fixed price protection of Borrower’s and its Subsidiaries’ aggregate Projected Oil and Gas Production anticipated to be sold in the ordinary course of such Persons’ business of at least the volumes set forth on Schedule 5.11 and with a tenor lasting to the Maturity Date, and having minimum floor prices that are reasonably acceptable to Lender (“Initial Hedging”). Lender may require extension of Qualified Hedging Agreements beyond the Maturity Date while any Loans remain outstanding.
Sample 1
Commodity Price Protection. (a) Not later than September 30, 2023, enter into and maintain Qualified Hedging Agreements for (x) not less than an average of 27 MBbl/d for the 12-month period ending September 30, 2024 and (y) not less than an average of 15 MBbl/d for the 12-month period ending September 30, 2025.
Sample 1
Commodity Price Protection. (a) The Borrower shall maintain in effect the Closing Date Xxxxxx.
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Related to Commodity Price Protection

  • Price Protection If, on the Vesting Date, the aggregate Market Price of the shares of Common Stock issuable upon settlement of the Units, is less than $1.50 per share, then the Company agrees to grant and issue to you, for no additional consideration, additional Units (“Additional Units”) such that the aggregate Market Price of the Common Stock underlying the Units previously issued, when added to the Market Price of the Common Stock underlying such Additional Units, shall equal at least $15,000 for each completed month of service. For the purposes hereof, “Market Price” at any date shall be deemed to be (i) if the principal trading market for such securities is any exchange, the last reported sale price, on each Trading Day for which determination is made as officially reported on any consolidated tape, (ii) if the principal market for such securities is the over-the-counter market, the closing prices (or, if no closing price, the closing bid price) on such Trading Days as set forth by Nasdaq or the OTC.QB of the OTC Markets Group, Inc. (whichever is the principal market for the Company’s Common Shares) as reported at xxxx://xxxxxxx.xxxxx.xxx or, (iii) if the security is not quoted on Nasdaq or the OTC.QB, the average bid and asked price as set forth on XXX.Xxxx of the OTC Markets Group, Inc. listing such securities for such day. Notwithstanding the foregoing, if there is no reported closing price or bid price, as the case may be, on any of the ten trading days preceding the event requiring a determination of Market Price hereunder, then the Market Price shall be determined in good faith by resolution of the Board of Directors of the Company, based on the best information available to it.

  • Purchase Price Protection With respect to any Mortgage Loan that prepays in full on or prior to the last day of the third full month following the related Closing Date (or such other date set forth in the related PPTL, the Seller shall reimburse the Purchaser an amount equal to the product of (a) the amount by which Purchase Price Percentage paid by the Purchaser to the Seller for such Mortgage Loan exceeds 100% and (b) the outstanding principal balance of the Mortgage Loan as of the Cut-off Date. Such payment shall be made within thirty (30) days of such payoff.

  • Commodity Contracts Such Grantor shall not have any commodity contract unless subject to a Control Agreement.

  • Commodity Exchange Act Each of Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in Section 1a(18) of the U.S. Commodity Exchange Act, as amended (the “CEA”), the Agreement and this Transaction are subject to individual negotiation by the parties and have not been executed or traded on a “trading facility” as defined in Section 1a(51) of the CEA.

  • Anti-Dilution Protection For so long as there remains any amount due and owing under this Note (the “AntiDilution Period”), the Commitment Shares issued to the Buyer hereunder shall have the anti-dilution rights (the “Anti-Dilution Rights”) described in this paragraph, such that the Company would be required to issue, from time to time, True-up Shares (defined below) to the Buyer. The Anti-Dilution Rights are based on the percentage that the Commitment Shares bear to 199,885,350 shares (the “4.99% Share Amount”) (199,885,350 shares is 4.99% of 4,005,718,437 currently outstanding shares of Company common stock). The 9,194,726 Commitment Shares represent 4.60% of the 4.99% Share Amount (9,194,726 ÷ 199,885,350 = 4.60%).

  • Interests to be Protected The parties acknowledge that Employee will perform essential services for Employer, its employees, and its stockholders during the term of Employee’s employment with Employer. Employee will be exposed to, have access to, and work with, a considerable amount of Confidential Information (as defined below). The parties also expressly recognize and acknowledge that the personnel of Employer have been trained by, and are valuable to, Employer and that Employer will incur substantial recruiting and training expenses if Employer must hire new personnel or retrain existing personnel to fill vacancies. The parties expressly recognize that it could seriously impair the goodwill and diminish the value of Employer’s business should Employee compete with Employer in any manner whatsoever. The parties acknowledge that this covenant has an extended duration; however, they agree that this covenant is reasonable and it is necessary for the protection of Employer, its stockholders, and employees. For these and other reasons, and the fact that there are many other employment opportunities available to Employee if his employment is terminated, the parties are in full and complete agreement that the following restrictive covenants are fair and reasonable and are entered into freely, voluntarily, and knowingly. Furthermore, each party was given the opportunity to consult with independent legal counsel before entering into this Agreement.

  • Clear Market During the period from the date hereof through and including the Closing Date, the Company will not, without the prior written consent of the Representatives, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company and having a tenor of more than one year.

  • Deposit, Commodities and Securities Accounts On or prior to the date hereof, the Grantor shall cause each bank and other financial institution with an account referred to in Schedule IV hereto to execute and deliver to the Collateral Agent (or its designee) a control agreement, in form and substance satisfactory to the Collateral Agent, duly executed by the Grantor and such bank or financial institution, or enter into other arrangements in form and substance satisfactory to the Collateral Agent, pursuant to which such institution shall irrevocably agree, among other things, that (i) it will comply at any time with the instructions originated by the Collateral Agent (or its designee) to such bank or financial institution directing the disposition of cash, Commodity Contracts, securities, Investment Property and other items from time to time credited to such account, without further consent of the Grantor, (ii) all cash, Commodity Contracts, securities, Investment Property and other items of the Grantor deposited with such institution shall be subject to a perfected, first priority security interest in favor of the Collateral Agent (or its designee), (iii) any right of set off, banker’s Lien or other similar Lien, security interest or encumbrance shall be fully waived as against the Collateral Agent (or its designee) and (iv) upon receipt of written notice from the Collateral Agent during the continuance of an Event of Default, such bank or financial institution shall immediately send to the Collateral Agent (or its designee) by wire transfer (to such account as the Collateral Agent (or its designee) shall specify, or in such other manner as the Collateral Agent shall direct) all such cash, the value of any Commodity Contracts, securities, Investment Property and other items held by it. Without the prior written consent of the Collateral Agent, the Grantor shall not make or maintain any Deposit Account, Commodity Account or Securities Account except for the accounts set forth in Schedule IV hereto. The provisions of this Section 6(h) shall not apply to Deposit Accounts for which the Collateral Agent is the depositary.

  • Investment Securities and Commodities (a) Each of the Company and its Subsidiaries has good title in all material respects to all securities and commodities owned by it (except those sold under repurchase agreements), free and clear of any Lien, except as set forth in the financial statements included in the Company Reports or to the extent such securities or commodities are pledged in the ordinary course of business to secure obligations of the Company or its Subsidiaries. Such securities and commodities are valued on the books of the Company in accordance with GAAP in all material respects.

  • Collection Practices; Escrow Deposits; Interest Rate Adjustments The origination, servicing and collection practices used by the Seller and the Interim Servicer with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Interim Servicer and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the Seller have been capitalized under the Mortgage or the Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related Interest Rate Adjustment Date. If, pursuant to the terms of the Mortgage Note, another index was selected for determining the Mortgage Interest Rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the related Mortgage Note. The Seller or the Interim Servicer executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited;

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