APOD Sample Clauses

APOD. (a) No Note Party shall, nor will it allow any Subsidiary to, deviate from the APOD then in effect or make Consolidated Capital Expenditures in any manner not provided for in the APOD then in effect, unless permitted by the Requisite Holders. (b) If the Issuer desires to make any change to the APOD or is required to update the APOD pursuant to the terms hereof, it shall submit a revised APOD, along with a written narrative describing such changes and an APOD Certificate, to the Administrative Agent for its review, but in any case the Issuer shall submit an APOD no less than once yearly. Any revised plan submitted to the Administrative Agent shall not be considered the current APOD until such time as the Administrative Agent shall have consented to such revised plan (at the discretion of the Requisite Holders) and no Note Party shall be permitted to spend funds in furtherance of such draft APOD. The Requisite Holders shall have no obligation to consent to any APOD.

APOD. Each Note Party will develop its Oil and Gas Properties and make Consolidated Capital Expenditures on its Oil and Gas Properties strictly in accordance with the APOD or as otherwise permitted by the Requisite Holders.

APOD. (a) Subject to Section 8.20(b), the Company shall, and shall cause its Subsidiaries to, (x) complete development of their respective Oil and Gas Properties that are subject to the APOD substantially as contemplated by the APOD and (y) in all material respects in accordance with the schedule set forth in the APOD; provided that any changes in timing as to when the APOD Xxxxx are developed and any changes to the order in which such xxxxx are developed, to the extent made in the Company’s reasonable discretion, shall not result in a violation of this Section 8.20(a). (b) If an APOD Revision Event has occurred, the Company shall, and shall cause its Subsidiaries to, immediately cease making any expenditures in respect of the then-current APOD (other than Emergency Capital Expenditures) for the period starting on the date that such APOD Revision Event has occurred and ending on the date when a Proposed APOD is approved after such APOD Revision Event. Notwithstanding anything to the contrary contained in this paragraph (b), in the event that an APOD Quarterly Test Event has occurred, the Company may provide reasonably detailed written materials to the Administrative Agent and the Lenders regarding the reason for such APOD Quarterly Test Event and request that the Lenders waive such APOD Revision Event resulting from an APOD Quarterly Test Event. An APOD Revision Event may be waived with the consent of all Lenders, in their respective sole discretion, by providing written notice of such waiver to the Company; provided, that if no APOD Revision Event exists at the end of the next succeeding Fiscal Quarter (without an adjustment to the forecasted production of any xxxxx) and the Company is in compliance with the APOD Economic Test, then the Company may resume completion and drilling activities and continue to make expenditures in respect of the APOD without the further consent of any Lender. For the avoidance of doubt, the occurrence of a APOD Revision Event shall not itself constitute a Default or Event of Default under this Agreement. (c) The Company shall submit a revised APOD or a new APOD, in each case, meeting the APOD Criteria (a “Proposed APOD”) on or prior to the date that is thirty (30) days before the last day of the period covered by the then-current APOD, including a written narrative (i) describing the changes being proposed in such Proposed APOD for review with the Lenders and the Administrative Agent, (ii) describing in reasonable detail compliance ...

APOD. The Administrative Agent shall have received and approved the APOD.

APOD. (i) Within 15 days of the Third Amendment Effective Date, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on the Third Amendment Effective Date through June 30, 2022. (ii) No later than April 7, 2023 (or any such later applicable date as may from time to time be agreed (or notified (including but not limited to by way of email) to the Borrower) by or on behalf of the Administrative Agent in its sole discretion), the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent covering the period commencing on the Sixth Amendment Effective Date through 31 December 2023. (iii) By June 30, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on the Third Amendment Effective Date through December 31, 2022. (iv) By September 30, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on September 30, 2022 through December 31, 2022. (v) By December 31, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent.

APOD. (a) Each Loan Party will make Covered Capital Expenditures on its Oil and Gas Properties only (i) in accordance with the APOD, (ii) pursuant to Section 6.23 or (iii) as otherwise consented to by the Administrative Agent. Notwithstanding the foregoing, no Covered Capital Expenditure shall be made unless the Loan Parties are in pro forma compliance, after giving effect to such Covered Capital Expenditure with Section 6.7(b). (b) The Initial APOD shall be submitted to the Administrative Agent for approval no later than 30 days after the Closing Date, or such longer period as the Administrative Agent may agree in its sole discretion. Once approved (which approval shall be at the Administrative Agent’s sole discretion), the Initial APOD shall remain in full force and effect until the Borrower submits a new APOD which is approved by the Administrative Agent. If the Borrower desires to make any change to, or deviate from, the APOD or is required to update the APOD pursuant to the terms hereof, it shall submit a revised APOD, along with a written narrative describing such changes and an APOD Certificate, to the Administrative Agent for review by the Lenders (with copies of such revised APOD and narrative to the Lenders). Any revised plan submitted to the Administrative Agent shall not be considered the current APOD until such time as the Administrative Agent shall have consented to such revised plan, and no Loan Party shall be permitted to incur Covered Capital Expenditures in furtherance of such draft APOD. The Administrative Agent shall have no obligation to consent to any revisions to the APOD, other than as set forth in clause (c) below. (c) Upon the expected completion of the projects contemplated by APOD, the Borrower may submit a revised APOD which (i) contemplates additional Covered Capital Expenditures in an amount not to exceed $11,000,000 in any Fiscal Year (in addition to those permitted pursuant to Section 6.23) and (ii) is supported with an analysis that shows the Asset Coverage Ratio both before and pro forma for the completion of such additional Covered Capital Expenditures of at least 2.00:1.00. The Administrative Agent shall be required to consider in good faith up to two such revised APODs each Fiscal Year. Upon the submission of a revised APOD to the Administrative Agent, the Administrative Agent may make reasonable requests for such additional information as it deems necessary and may, in consultation with the Borrower, require changes to the ...

APOD. (a) Each Note Party will develop its Oil and Gas Properties and make Consolidated Capital Expenditures on its Oil and Gas Properties strictly in accordance with the APOD or as otherwise permitted pursuant to an Approval Letter. (b) If the Issuer desires to make any change to the APOD or is required to update the APOD pursuant to the terms hereof, it shall submit a revised APOD, along with a written narrative describing such changes and an APOD Certificate, to the Administrative Agent for its review, but in any case the Issuer shall submit an APOD no less than once yearly. Any revised plan submitted to the Administrative Agent shall not be considered the current APOD until such time as the Administrative Agent shall have consented to such revised plan in its sole discretion and no Note Party shall be permitted to spend funds in furtherance of such draft APOD. The Administrative Agent shall have no obligation to consent to any APOD.

APOD. (i) Within 15 days of the Third Amendment Effective Date, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on the Third Amendment Effective Date through June 30, 2022. (ii) By June 30, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on the Third Amendment Effective Date through December 31, 2022. (iii) By September 30, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent for the period commencing on September 30, 2022 through December 31, 2022. (iv) By December 31, 2022, the Borrower shall have delivered an APOD and an updated capital expenditure forecast reasonably acceptable to, and consented to in writing by, the Administrative Agent.

APOD. The APOD attached as Schedule 6.15 of the Note Purchase Agreement is hereby replaced by the APOD attached hereto as Exhibit C (the “Third Supplement APOD”) and all references to the APOD in the Note Purchase Agreement shall mean the Third Supplement APOD.

APOD. To be approved post-closing in accordance with the Credit Agreement.