Common use of Annual and Semi-Annual Budgets Clause in Contracts

Annual and Semi-Annual Budgets. within 90 days after the end of each fiscal year of the Company, a copy of the Company’s consolidated annual operating and capital budgets for the then current fiscal year (including capital expenditures) prepared by management which, in scope and substance, is substantially similar to such annual budgets previously provided to each holder of Notes (each, an “Annual Budget”), and, during the Covenant Relief Period only, on or prior to August 31 of each fiscal year of the Company, a mid-year update to each of the Company’s current fiscal year Annual Budgets;

Appears in 7 contracts

Samples: Note Purchase Agreement (Penn West Petroleum Ltd.), Note Purchase Agreement (Penn West Petroleum Ltd.), First Amending Agreement (Penn West Petroleum Ltd.)

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Annual and Semi-Annual Budgets. within 90 days after the end of each fiscal year of the Company, a copy of the Company’s consolidated annual operating and capital budgets for the then current fiscal year (including capital expenditures) prepared by management which, in scope and substance, is substantially similar to such annual budgets previously provided to each holder of Notes (each, an “Annual Budget”), and, during the Covenant Relief Period only, on or prior to August 31 of each fiscal year of the Company, a mid-year update to each of the Company’s current fiscal year Annual Budgets;

Appears in 4 contracts

Samples: Note Purchase Agreement (Obsidian Energy Ltd.), Note Purchase Agreement (Obsidian Energy Ltd.), Note Purchase Agreement (Obsidian Energy Ltd.)

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