Commodity Hedging Agreements. Schedule 6.22 sets forth, as of the Effective Date, a true and complete list of all Commodity Hedging Agreements (other than Excluded Xxxxxx) of the Credit Parties, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net xxxx to market value thereof (as of November 30, 2011), all credit support agreements relating thereto (including any margin required or supplied), and the counterparty to each such agreement.
Commodity Hedging Agreements. Maintain in effect Commodity Hedging Agreements with one or more Approved Counterparties that establish minimum fixed prices reasonably acceptable to the Administrative Agent on a volume of Hydrocarbons equal to not less than 40% of the projected PDP production from the Oil and Gas Properties of the Borrower and the Subsidiaries for the succeeding twelve calendar months on a rolling twelve calendar month basis.
Commodity Hedging Agreements. As of the Initial Transaction Closing Date, each of the GS Commodity Hedging Agreement and the MS Commodity Hedging Agreement is in full force and effect and no default, event of default, termination event or equivalent event exists thereunder.
Commodity Hedging Agreements. Maintain in effect Commodity Hedging Agreements with one or more Approved Counterparties that establish minimum fixed prices reasonably acceptable to the Administrative Agent on a volume of Hydrocarbons equal to not less than 40% of the projected PDP production (measured as of each date of delivery to the Administrative Agent of the financial statements and certificates required by Section 5.04(a) or (b) and Section 5.04(c), respectively) from the Oil and Gas Properties of the Borrower and the Subsidiaries for the succeeding twelve calendar months on a rolling twelve calendar month basis.
Commodity Hedging Agreements. At any time that the Note Obligations (other than the obligations under the ORRI Documents) remain outstanding, the Requisite Holders (or administrative agent acting on their behalf) may give notice to the Issuer, in their sole and absolute discretion, that Issuer shall enter into a commodity hedging agreements in form and substance satisfactory to Administrative Agent, with respect to volumes of Hydrocarbons (up to 75% of the projected production of Issuer’s PDP Reserves during the three years after the date of such notice). Issuer shall enter into such commodity hedging agreement with respect to the specified volumes no later than thirty (30) days after the date of such notice.
Commodity Hedging Agreements. Schedule 9(s) sets forth, as of the Closing Date, a true and complete list of all Commodity Hedging Agreements (including commodity price swap agreements, forward agreements or contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other commodities) of the Borrower and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net xxxx to market value thereof, all credit support agreements relating thereto (including any margin required or supplied), and the counter party to each such agreement.
Commodity Hedging Agreements. Upon reasonable request of the Agent, a report, in form and substance satisfactory to the Agent, setting forth as of the last Business Day of the immediately preceding fiscal quarter a true and complete list of all Commodity Hedging Agreements (including commodity price swap agreements, forward agreements or contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other commodities) of the Borrower and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), any new credit support agreements relating thereto not constituting Loan Documents or listed on Schedule 9(s), any margin required or supplied under any credit support document, and the counter party to each such agreement.
Commodity Hedging Agreements. Maintain in effect Commodity Hedging Agreements with one or more Approved Counterparties that establish minimum prices reasonably acceptable to the Administrative Agent on a volume of Hydrocarbons equal to not less than (i) 60% of the projected PDP production (measured as of each date of delivery to the Administrative Agent of the Reserve Reports and certificates required by Section 5.04(d)) from the Oil and Gas Properties of the Borrower and the Subsidiaries for the succeeding twelve calendar months on a rolling twelve calendar month basis and (ii) 40% of such projected PDP production on a rolling basis for the twelve calendar month period subsequent to the twelve calendar month period referred to in clause (i).
Commodity Hedging Agreements. From and after the 90th day following the Funding Date, Holdings and its Subsidiaries will maintain in effect Commodity Hedging Agreements with one or more Approved Third Party Credit Providers that establish minimum prices in accordance with the Borrower’s hedging policies as in effect on the Funding Date or in accordance with generally accepted business practice on a volume of Hydrocarbons equal to not less than (i) 50% of the projected PDP production (measured as of each date of delivery to the Administrative Agent of the Reserve Reports and certificates required by Section 7.01(d)) from the Oil and Gas Properties of Holdings and its Subsidiaries for the succeeding twelve calendar months and (ii) 35% of such projected PDP production for the twelve calendar month period subsequent to the calendar month period referred to in preceding clause (i). It is understood and agreed that Reserve Reports reflect projected production on an annual basis, and the Borrower shall be permitted to determine projected production on a monthly basis for purposes of this Section 7.18 by prorating annual production reflected in such Reserve Reports over the months covered thereby or using such other method as the Borrower deems reasonable.
