Agreement to Pledge. The Borrower shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal Property of the Borrower or any Subsidiary now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.
Appears in 4 contracts
Samples: Subordinated Credit Agreement (Abraxas Energy Partners LP), Credit Agreement (Abraxas Energy Partners LP), Subordinated Credit Agreement (Abraxas Petroleum Corp)
Agreement to Pledge. The Borrower (a) shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal Property of the Borrower or any Subsidiary now owned or hereafter acquired, and (b) shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.
Appears in 3 contracts
Samples: Credit Agreement (Abraxas Petroleum Corp), Credit Agreement (Abraxas Petroleum Corp), Credit Agreement (Abraxas Petroleum Corp)
Agreement to Pledge. The Borrower shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal Property of the Borrower or any Subsidiary now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 present value of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.
Appears in 3 contracts
Samples: Credit Agreement (Abraxas Petroleum Corp), Credit Agreement (Abraxas Energy Partners LP), Credit Agreement (Abraxas Petroleum Corp)
Agreement to Pledge. The Borrower shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal any Property of the Borrower or any Subsidiary now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to acquired promptly after receipt of a written request from the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering ReportAgent.
Appears in 3 contracts
Samples: Credit Agreement (ReoStar Energy CORP), Credit Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc)
Agreement to Pledge. The Each Borrower shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all Proven Reserves and all personal Property of the Borrower or any Subsidiary Parent and all Subsidiaries of the Parent now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to acquired promptly after receipt of a written request from the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering ReportAgent.
Appears in 2 contracts
Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)
Agreement to Pledge. The Borrower (a) shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in all personal Property of the Borrower or any Subsidiary now owned or hereafter acquired, and (b) shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 9085% of the PV-10 of the Proven Reserves and Oil and Gas Properties in connection therewith of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.
Appears in 1 contract
Samples: Credit Agreement (Isramco Inc)
Agreement to Pledge. The Borrower shall, and shall cause each Subsidiary to, promptly grant to the Administrative Agent an Acceptable Security Interest in all personal any Property of the Borrower or any Subsidiary of its Subsidiaries now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering Report.
Appears in 1 contract
Samples: Second Lien Credit Agreement (Crusader Energy Group Inc.)
Agreement to Pledge. The Borrower shall, and shall cause each Subsidiary (other than Foreign Subsidiaries) to, grant to the Administrative Agent an Acceptable Security Interest in all personal any Property of the Borrower or any such Subsidiary now owned or hereafter acquired, and shall, and shall cause each Subsidiary to, grant to acquired promptly after receipt of a written request from the Administrative Agent an Acceptable Security Interest in at least 90% of the PV-10 of the Proven Reserves of the Borrower and its Subsidiaries based on its most recently delivered Engineering ReportAgent.
Appears in 1 contract
