Common use of Compliance Certificate and Independent Consultant's Reports Clause in Contracts

Compliance Certificate and Independent Consultant's Reports. On the Effective Date and not more than three months after each Measurement Date thereafter, El Paso Corporation shall deliver or cause to be delivered to the Designated Representative a report of one or more Independent Consultants addressed to the Designated Representative confirming the Reported Value of the Oil & Gas Collateral. On the Effective Date and within sixty (60) days after the close of each calendar quarter thereafter, El Paso Corporation shall deliver or cause to be delivered to the Designated Representative a certificate of a Responsible Officer of El Paso Corporation to the effect that the El Paso Settling Parties are in compliance with the collateral maintenance requirements set forth in Paragraph 8.3(a) of this Agreement (and, for purposes of such certificate, such officer may rely on any report referred to in this Paragraph) (the “Compliance Certificate”). In the case of any allocation of Collateral to the Settling Claimants and the Additional Payees, such compliance shall be determined separately with respect to the MSA Portion and AP Portion. Upon written reasonable request by the Designated Representative, El Paso Corporation shall deliver to the Designated Representative such production reports and other internally prepared reports as it may have to enable the Designated Representative to confirm independently El Paso Corporation’s compliance with the terms of Paragraph 8.3(a) of this Agreement.

Compliance Certificate and Independent Consultant's Reports. On the Effective Date and not more than three months after each Measurement Date thereafter, El Paso Corporation shall deliver or cause to be delivered to the Designated Representative a report of one or more Independent Consultants addressed to the Designated Representative confirming the Reported Value of the Oil & Gas Collateral. On the Effective Date and within sixty (60) days after the close of each calendar quarter thereafter, El Paso Corporation shall deliver or cause to be delivered to the Designated Representative a certificate of a Responsible Officer of El Paso Corporation to the effect that the El Paso Settling Parties are in compliance with the collateral maintenance requirements set forth in Paragraph 8.3(a) of this Agreement (and, for purposes of such certificate, such officer may rely on any report referred to in this Paragraph) (the “"Compliance Certificate”"). In the case of any allocation of Collateral to the Settling Claimants and the Additional Payees, such compliance shall be determined separately with respect to the MSA Portion and AP Portion. Upon written reasonable request by the Designated Representative, El Paso Corporation shall deliver to the Designated Representative such production reports and other internally prepared reports as it may have to enable the Designated Representative to confirm independently El Paso Corporation’s 's compliance with the terms of Paragraph 8.3(a) of this Agreement.