Approved Plan of Development. Use any funds from any source (other than proceeds of the Loans and/or Excluded Equity Proceeds):
Approved Plan of Development. (a) Borrower shall, and shall cause each other Credit Party to, and with respect to any Oil and Gas Properties operated by a third party that is not an Affiliate of a Credit Party, shall use commercially reasonable efforts to cause such third party to (with respect to the Oil and Gas Properties operated by it), (i) timely develop the Oil and Gas Properties and drill and complete xxxxx and otherwise make Capital Expenditures on the Oil and Gas Properties as and when provided in the Approved Plan of Development and (ii) except to the extent regulatory approval has not yet been obtained, have each producing and injection well that is hereafter completed put into normal operation. Borrower shall, and shall cause each other Credit Party to, operate and carry out its businesses and expenditures in compliance with the APOD. Xxxxxxxx will obtain and pay for the services of all engineering and professional staff and other Persons needed to prudently execute the Approved Plan of Development.
Approved Plan of Development. Administrative Agent and Lenders shall have received an APOD Certificate and shall be satisfied with the Approved Plan of Development attached thereto.
Approved Plan of Development. Borrower shall not amend, modify nor materially depart from the Plan of Development approved by Administrative Agent in connection with the Third Amendment that sets forth budgeted capital expenditures by Borrower in connection with the development of its Oil and Gas Properties subject to a Mortgage, without Administrative Agent's prior written consent in its sole discretion."
Approved Plan of Development. Borrower shall, and shall cause each other Loan Party to, (a) timely develop the Oil and Gas Properties and make capital expenditures on the Oil and Gas Properties in accordance with the Approved Plan of Development, and (b) except to the extent regulatory approval has not yet been obtained, have each producing and injection well that is hereafter completed put into normal operation; provided, to the extent any Oil and Gas Property referred to in this Section 5.16 is not operated by a Loan Party, the applicable Loan Party’s obligations under this Section 5.16 shall be limited to the use of commercially reasonable efforts to cause the operator to comply with this Section 5.16 (and, to the extent Republic is the operator, to comply with the Republic Documents). Borrower shall obtain and pay for the services of all engineering and professional staff and other Persons needed to prudently execute the Approved Plan of Development.
Approved Plan of Development. Company will (a) timely develop the Properties, and make capital expenditures on the Properties, in accordance with the Approved Plan of Development, and (b) except to the extent regulatory approval has not yet been obtained, have each producing and injection well which is hereafter completed put into normal operation.
Approved Plan of Development. Schedule 6 of the Original Agreement is hereby amended in its entirety to read as set forth on Schedule 6 attached hereto.
Approved Plan of Development. The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders certifying that the Borrower’s written plan of development with respect to budgeted development expenditures, Capital Expenditures and other development activities for the period from the Closing Date through and including September 30, 2020 is for (a) $2,400,000 of Capital Expenditures with respect to the Xxxxxx Xxxxxxx 29-32H xxxxx in June 2020 and (b) $2,600,000 for development expenditures, Capital Expenditures or other development activities to be identified by the Borrower with respect to the Oil and Gas Properties of the Loan Parties.
Approved Plan of Development. The Credit Parties will (a) timely develop the Oil and Gas Properties and make capital expenditures on the Oil and Gas Properties in accordance with the Approved Plan of Development, and (b) except to the extent regulatory approval has not yet been obtained, have each producing and injection well that is hereafter completed put into normal operation. Company will obtain and pay for the services of all engineering and professional staff and other Persons needed to prudently execute the Approved Plan of Development.
Approved Plan of Development. The Credit Parties will (a) use commercially reasonable efforts to develop the Oil and Gas Properties in accordance with the Approved Plan of Development, and (b) except to the extent regulatory approval has not yet been obtained, have each producing and injection well that is hereafter completed by the Credit Parties put into operation. The Credit Parties will obtain and bear the cost for the services of all engineering and professional staff and other Persons needed to prudently execute the Approved Plan of Development. Promptly following knowledge of a Responsible Officer of Borrower that any of the projections in the Approved Plan of Development could reasonably be expected to be inaccurate or misleading in any material respect, including as a result of actual well performance materially below the performance projected in the Approved Plan of Development, Borrower shall deliver to Administrative Agent an updated APOD, evidencing such amendments and modifications to the Approved Plan of Development as are reasonably necessary to correct such inaccurate or misleading information and remedy any such underperformance (which shall be subject to the review and approval of Administrative Agent and the Required Lenders to be exercised in their commercially reasonable discretion).
