Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established).
Appears in 12 contracts
Samples: Term Loan Credit Agreement (Abraxas Petroleum Corp), Credit Agreement (Isramco Inc), Credit Agreement (Abraxas Petroleum Corp)
Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established).
Appears in 9 contracts
Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)
Account Payables. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except (a) in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been establishedestablished and (b) for such payables, which in the aggregate, do not exceed $3,000,000).
Appears in 5 contracts
Samples: Credit Agreement (Silver Run Acquisition Corp II), Credit Agreement (Alta Mesa Holdings, LP), Credit Agreement (Alta Mesa Holdings, LP)
Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries Guarantor to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 120 days beyond past the invoice or billing date when due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established).
Appears in 5 contracts
Samples: Credit Agreement (Callon Petroleum Co), Credit Agreement (Callon Petroleum Co), Credit Agreement (Callon Petroleum Co)
Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow (a) any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established)) and (b) the weighted average maturity of all such trade payables to exceed 120 days.
Appears in 4 contracts
Samples: Subordinated Credit Agreement (Cano Petroleum, Inc), Pledge Agreement (Cano Petroleum, Inc), Credit Agreement (Cano Petroleum, Inc)
Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when past due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established).
Appears in 2 contracts
Samples: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc)
Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow (a) any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established)) or (b) the weighted average maturity of all such trade payables to exceed 75 days.
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Account Payables. The Borrower shall not, nor shall it permit any of its Subsidiaries the Guarantors to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond following receipt of the date when due invoice covering such payable (except in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been established).
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Account Payables. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, allow any of its trade payables or other accounts payable to be outstanding for more than 90 days beyond the date when due (except (a) in cases where any such trade payable is being disputed in good faith and adequate reserves under GAAP have been establishedestablished and (b) for such payables, which in the aggregate, do not exceed $250,000).
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