Ad Valorem and Severance Taxes. 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, or are otherwise being contested in accordance with the provisions of Section 6.7.
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Samples: Credit Agreement (Sundance Energy Australia LTD), Second Lien Credit Agreement (Sundance Energy Australia LTD), Second Lien Credit Agreement (Sundance Energy Australia LTD)
Ad Valorem and Severance Taxes. Each Restricted Person has paid and discharged all ad valorem taxes that assessed and which are due and 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, or therefrom which are otherwise being contested in accordance with the provisions of Section 6.7due and payable have been paid.
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Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)
Ad Valorem and Severance Taxes. 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, or except ad valorem and severance taxes that are otherwise being contested in good faith by appropriate proceedings and for which adequate reserves have been set aside in accordance with the provisions of Section 6.7GAAP.
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Ad Valorem and Severance Taxes. Each Restricted Person has paid and discharged all material ad valorem taxes Taxes that are payable and have been assessed against its Oil and Gas Property or any part thereof and all material production, severance and other taxes Taxes that are payable and have been assessed against, or measured by, the production or the value, or proceeds, of the production therefrom, or are otherwise being contested in accordance with the provisions of Section 6.7.
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