Common use of Fees and Expenses of Petroleum Engineer and Financial Advisor Clause in Contracts

Fees and Expenses of Petroleum Engineer and Financial Advisor. During the Covenant Relief Period, the Company shall pay the reasonable fees and expenses of (i) XxXxxxxx and XxxXxxxxxxx Canada Limited or another petroleum engineer engaged by the Majority Noteholders (or legal counsel on their behalf) and (ii) FTI Consulting, Inc. or another financial advisor engaged by the Majority Noteholders (or legal counsel on their behalf), in each case as provided in the respective engagement letters to which the Company and such petroleum engineer or financial advisor are parties; provided, however, that at no time shall the Company be required to pay, pursuant to this Section 3.3, the fees and expenses of more than one petroleum engineer and one financial advisor engaged by, or on behalf of, any one or more holders of Notes.

Appears in 7 contracts

Samples: First Amending Agreement (Penn West Petroleum Ltd.), Second Amending Agreement (Penn West Petroleum Ltd.), Second Amending Agreement (Penn West Petroleum Ltd.)

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