Damage to Collateral. Each Borrower shall give Lender prompt written notice of: (a) damage to any of the Collateral causing a loss in excess of $100,000; and (b) the occurrence of any condition or event which has caused, or may cause, loss or depreciation in excess of $100,000 with respect to any of the Collateral excluding market fluctuation for the price paid for Hydrocarbons.
Appears in 1 contract
Damage to Collateral. Each Borrower shall give Lender prompt written notice ofof the following:
(a) damage to any of the Collateral causing a loss in excess of twenty-five thousand dollars ($100,00025,000); and
(b) the occurrence of any condition or event which has caused, caused or may cause, cause loss or depreciation in excess of twenty-five thousand dollars ($100,000 25,000) with respect to any of the Collateral excluding market fluctuation for the price paid for Hydrocarbons.
Appears in 1 contract
Damage to Collateral. Each Borrower Borrowers shall give Lender prompt written notice of:
(a) damage to any of the Collateral causing a loss in excess of Fifteen Thousand Dollars ($100,00015,000); and
(b) the occurrence of any condition or event which has caused, or may cause, loss or depreciation in excess of Fifteen Thousand Dollars ($100,000 15,000) with respect to any of the Collateral excluding market fluctuation for the price paid for Hydrocarbons.
Appears in 1 contract
Sources: Debtor in Possession Credit Agreement (Cygnus Oil & Gas Corp)
Damage to Collateral. Each Borrower shall give Lender Lenders prompt written notice of:
(a) damage to any of the Collateral causing a loss in excess of five hundred thousand dollars ($100,000500,000); and
(b) the occurrence of any condition or event which has caused, caused or may cause, cause loss or depreciation in excess of five hundred thousand dollars ($100,000 500,000) with respect to any of the Collateral excluding market fluctuation for the price paid for Hydrocarbons.
Appears in 1 contract