Common use of Derivative Transactions and Hedging Clause in Contracts

Derivative Transactions and Hedging. (a) Schedule 5.21 of the Parent Disclosure Letter contains a complete and correct list of all outstanding Derivative Transactions (including each outstanding Hydrocarbon or financial hedging position attributable to the Hydrocarbon production of Parent or any of its Subsidiaries) entered into by Parent or any of its Subsidiaries or for the account of any of their respective customers as of the date hereof pursuant to which such party has outstanding rights or obligations. All such Derivative Transactions were, and any Derivative Transactions entered into after the date of this Agreement will be, entered into in accordance with applicable Laws, and in accordance with the investment, securities, commodities, risk management and other policies, practices and procedures employed by Parent and its Subsidiaries. The Parent and its Subsidiaries have duly performed in all material respects all of their respective obligations under the Derivative Transactions to the extent that such obligations to perform have accrued, and, to the knowledge of Parent, there are no material breaches, violations, collateral deficiencies, requests for collateral or demands for payment (except for ordinary course margin deposit requests), or defaults or allegations or assertions of such by any party thereunder. (b) The Parent SEC Documents accurately summarize, in all material respects, the outstanding positions under any Derivative Transaction of Parent and its Subsidiaries, including Hydrocarbon and financial positions under any Derivative Transaction of Parent attributable to the production and marketing of Parent and its Subsidiaries, as of the dates reflected therein.

Derivative Transactions and Hedging. (a) Schedule 5.21 4.21 of the Parent Company Disclosure Letter contains a complete and correct list of all outstanding Derivative Transactions (including each outstanding Hydrocarbon or financial hedging position attributable to the Hydrocarbon production of Parent the Company or any of its Subsidiaries) entered into by Parent the Company or any of its Subsidiaries or for the account of any of their respective customers as of the date hereof pursuant to which such party has outstanding rights or obligations. All such Derivative Transactions were, and any Derivative Transactions entered into after the date of this Agreement will be, entered into in accordance with applicable Laws, and in accordance with the investment, securities, commodities, risk management and other policies, practices and procedures employed by Parent the Company and its Subsidiaries. The Parent Company and its Subsidiaries have duly performed in all material respects all of their respective obligations under the Derivative Transactions to the extent that such obligations to perform have accrued, and, to the knowledge of Parentthe Company, there are no material breaches, violations, collateral deficiencies, requests for collateral or demands for payment (except for ordinary course margin deposit requests), or defaults or allegations or assertions of such by any party thereunder. (b) The Parent Company SEC Documents accurately summarize, in all material respects, the outstanding positions under any Derivative Transaction of Parent the Company and its Subsidiaries, including Hydrocarbon and financial positions under any Derivative Transaction of Parent the Company attributable to the production and marketing of Parent the Company and its Subsidiaries, as of the dates reflected therein.

Derivative Transactions and Hedging. (a) Schedule 5.21 All Derivative Transactions of the Parent Disclosure Letter contains a complete Company and correct list of all outstanding Derivative Transactions (including each outstanding Hydrocarbon or financial hedging position attributable to the Hydrocarbon production of Parent or any of its Subsidiaries) entered into by Parent or any of its Subsidiaries or for the account of any of their respective customers in effect as of the date hereof pursuant to which such party has outstanding rights or obligations. All such Derivative Transactions were, and any Derivative Transactions entered into after the date of this Agreement will be, entered into in all material respects in accordance with applicable Laws, and in accordance with the investment, securities, commodities, risk management and other policies, practices and procedures employed by Parent the Company and its Subsidiaries. ; and The Parent Company and its Subsidiaries have duly performed in all material respects all of their respective obligations under the Derivative Transactions to the extent that such obligations to perform have accrued, and, to the knowledge of Parentthe Company, there are no material breaches, violations, collateral deficiencies, requests for collateral or demands for payment (except for ordinary course margin deposit requests), or defaults or allegations or assertions of such by any party thereunder. (ba) The Parent Company SEC Documents accurately summarize, in all material respects, the outstanding positions under any Derivative Transaction of Parent the Company and its Subsidiaries, including Hydrocarbon and financial positions under any Derivative Transaction of Parent the Company attributable to the production and marketing of Parent and the Company or its Subsidiaries, as of the dates reflected therein.

Derivative Transactions and Hedging. (a) Schedule 5.21 All Derivative Transactions of the Parent Disclosure Letter contains a complete Company and correct list of all outstanding Derivative Transactions (including each outstanding Hydrocarbon or financial hedging position attributable to the Hydrocarbon production of Parent or any of its Subsidiaries) entered into by Parent or any of its Subsidiaries or for the account of any of their respective customers in effect as of the date hereof pursuant to which such party has outstanding rights or obligations. All such Derivative Transactions were, and any Derivative Transactions entered into after the date of this Agreement will be, entered into in all material respects in accordance with applicable Laws, and in accordance with the investment, securities, commodities, risk management and other policies, practices and procedures employed by Parent the Company and its Subsidiaries. The Parent Company and its Subsidiaries have duly performed in all material respects all of their respective obligations under the Derivative Transactions to the extent that such obligations to perform have accrued, and, to the knowledge of Parent, there are no material breaches, violations, collateral deficiencies, requests for collateral or demands for payment (except for ordinary course margin deposit requests), or defaults or allegations or assertions of such by any party thereunder. (b) The Parent Company SEC Documents accurately summarize, in all material respects, the outstanding positions under any Derivative Transaction of Parent the Company and its Subsidiaries, including Hydrocarbon and financial positions under any Derivative Transaction of Parent the Company attributable to the production and marketing of Parent and the Company or its Subsidiaries, as of the dates reflected therein.

Derivative Transactions and Hedging. (a) Schedule 5.21 of Except as would not reasonably be expected to be, individually or in the Parent Disclosure Letter contains aggregate, material to Company and its Subsidiaries, taken as a complete and correct list of whole: (i) all outstanding Derivative Transactions (including each outstanding Hydrocarbon or financial hedging position attributable to the Hydrocarbon production of Parent or any of its Subsidiaries) entered into by Parent or any of Company and its Subsidiaries or for the account of any of their respective customers in effect as of the date hereof pursuant to which such party has outstanding rights or obligations. All such Derivative Transactions were, and any Derivative Transactions entered into after the date of this Agreement will be, entered into in accordance with applicable Laws, and in accordance with the investment, securities, commodities, risk management and other policies, practices and procedures employed by Parent Company and its Subsidiaries. The Parent , which policies, practices and procedures are commercially reasonable; and (ii) Company and its Subsidiaries have duly performed in all material respects all of their respective obligations under the Derivative Transactions to the extent that such obligations to perform have accrued, and, to the knowledge of ParentCompany, there are no material breaches, violations, collateral deficiencies, requests for collateral or demands for payment (except for ordinary course margin deposit requests), or defaults or allegations or assertions of such by any party thereunder. (b) The Parent SEC Documents Company Securities Documents, together with Schedule 2.21(b) of the Company Disclosure Letter, accurately summarize, in all material respects, the outstanding positions under any Derivative Transaction of Parent Company and its Subsidiaries, including Hydrocarbon and financial positions under any Derivative Transaction of Parent Company attributable to the production and marketing of Parent and Company or its Subsidiaries, as of the dates reflected therein.