Forward Sales Sample Clauses

Forward Sales. Except in accordance with ordinary practice in the Oil and Gas Business, enter into or permit to exist any advance payment agreement or other arrangement pursuant to which the Borrower or any of its Subsidiaries, having received full or substantial payment of the purchase price for a specified quantity of Hydrocarbons upon entering such agreement or arrangement, is required to deliver, in one or more installments subsequent to the date of such agreement or arrangement, such quantity of Hydrocarbons pursuant to and during the terms of such agreement or arrangement.

Forward Sales. Except in accordance with usual and customary practice in the Oil and Gas Business and except for Hydrocarbon imbalances not in excess of the greater of (i) 10 Bcfe or (ii) 3% of projected PDP production from time to time from the Oil and Gas Properties of the Borrower and the Subsidiaries for the succeeding twelve calendar months, enter into or permit to exist any advance payment agreement or other arrangement pursuant to which the Borrower or any of the Subsidiaries, having received full or substantial payment of the purchase price for a specified quantity of Hydrocarbons upon entering such agreement or arrangement, is required to deliver, in one or more installments subsequent to the date of such agreement or arrangement, such quantity of Hydrocarbons pursuant to and during the terms of such agreement or arrangement.

Forward Sales. Lessor acknowledges that Miranda shall have the right to market and sell or refrain from selling ores and minerals mined from the Property and Precious Metals and Other Products produced from ores and minerals mined from the Property in any manner it may elect. Accordingly, Gross Value shall be determined as provided in Section 3 above irrespective of any actual selling arrangements entered into by Miranda, specifically including, but not limited to, forward sales, futures trading or commodity options trading, and any other price hedging, price protection and speculative arrangements which may involve the possible delivery of ores and minerals and Precious Metals or Other Products produced from ores and minerals mined from the Property.

Forward Sales. Except in accordance with usual and customary practice in the Oil and Gas Business and except for gas imbalances not in excess of 2,500,000 mcf, enter into or permit to exist any advance payment agreement or other arrangement pursuant to which the Borrower or any of its Subsidiaries, having received full or substantial payment of the purchase price for a specified quantity of Hydrocarbons upon entering such agreement or arrangement, is required to deliver, in one or more installments subsequent to the date of such agreement or arrangement, such quantity of Hydrocarbons pursuant to and during the terms of such agreement or arrangement.

Forward Sales. Except in accordance with ordinary practice in the Oil and Gas Business, permit EPPG to enter into or permit to exist any advance payment agreement or other arrangement pursuant to which the Borrower or any of its Subsidiaries, having received full or substantial payment of the purchase price for a specified quantity of Hydrocarbons from any of the Borrowing Base Properties upon entering such agreement or arrangement, is required to deliver, in one or more installments subsequent to the date of such agreement or arrangement, such quantity of Hydrocarbons pursuant to and during the terms of such agreement or arrangement.

Forward Sales. The Company has entered into a Master Confirmation, dated as of the date hereof, with the Forward Purchaser, a copy of which is attached hereto as Exhibit A (the “Master Confirmation”). In connection with the Master Confirmation and a Forward Sale, the Forward Purchaser may instruct an affiliate to borrow and sell Common Stock or engage in certain other hedging activities related thereto. Pursuant to the Master Confirmation, subject to the terms and conditions herein and therein, the Company will deliver to the Forward Purchaser, or an affiliate thereof (including the Agent), up to the number of Shares as may be sold as a Forward Sale in accordance with the terms of this Agreement. In connection therewith, the Company and the Forward Purchaser understand that the Forward Purchaser or its affiliate, through the Agent, will effect sales of Shares not in excess of the Maximum Program Amount on the terms set forth in Section 2 of this Agreement.

Forward Sales. Seller is not obligated by virtue of a take or pay payment, advance payment or other similar payment (other than royalties, overriding royalties and similar arrangements reflected on Exhibit “A”), to deliver Hydrocarbons, or proceeds from the sale thereof, attributable to the Leases at some future time without receiving payment therefor at or after the time of delivery.

Forward Sales. 94 7.11 Distributions..................................................................................94 7.12

Forward Sales. Lessor acknowledges that Lincoln shall have the right to market and sell or refrain from selling ores and minerals mined from the Property and Precious Metals and Other Products produced from ores and minerals mined from the Property in any manner it may elect. Accordingly, Gross Value shall be determined as provided in Section 3 above irrespective of any actual selling arrangements entered into by Lincoln, specifically including, but not limited to, forward sales, futures trading or commodity options trading, and any other price hedging, price protection and speculative arrangements which may involve the possible delivery of ores and minerals and Precious Metals or Other Products produced from ores and minerals mined from the Property.

Forward Sales. To the extent any Bank's Revolving Advances ------------- (valued at Advance Date Values) are less than its Revolving Commitment at any time, the Borrower shall have the right to require such Bank to quote on and, if accepted, agree to a Forward Sale on the following terms: (a) Subject to Section 2.2(b) and clauses (c) and (e) of this -------------- ----------- --- Section, the Borrower shall have the right to designate the number of Ounces of Gold to be sold and the date for delivery and payment of the price, which shall be not later than the earlier of twelve months from the date of quotation or the Maturity Date unless otherwise agreed by the Bank; (b) The Bank shall agree to purchase such Gold at the price quoted by such Bank (which price shall consist of the Dollar Value of such Gold on the date of quotation plus the Contango) and accepted by the Borrower; (c) The total of such Bank's Revolving Advances of Gold (valuing such Advances in Ounces at their respective Advance Date Values) plus the total of its Forward Sale Amounts plus the total of all outstanding Dollars (under this Agreement and the Instruments) shall not exceed such Bank's Revolving Commitment at any time. If such Revolving Commitment is exceeded, the Borrower shall comply with Section 2.17(b) and when the --------------- Borrower is in compliance with Section 2.17(b), the Borrower shall close --------------- out such Forward Sales with said Bank as may be required to comply with this provision, and pay any associated Breakage Costs; (d) If the Borrower desires to obtain a Revolving Advance which would cause such Bank's Revolving Commitment to be exceeded, but which would be available if such Forward Sales were terminated or the number of Ounces subject thereto reduced, the Revolving Advance shall be made, but the excess amount of Gold shall be predelivered under outstanding Forward Sales with such Bank, and Borrower shall pay any associated Breakage Costs; (e) If the Borrower is in compliance with Section 2.17(a), but the --------------- total of (i) the current Dollar Value of Gold subject to its Forward Sales to such Bank, minus (ii) the Forward Sale Amount thereof, plus (iii) the outstanding principal amounts of Revolving Advances in Dollars made by such Bank, plus (iv) the current Dollar Value of Revolving Advances of Gold made by such Bank, exceeds said Bank's Ceiling Dollar Value for Revolving Advances, the Borrower shall forthwith, at its option either repay sufficient Revolving...