Future Commitments. As of the date hereof and as of the Closing Date, except as set forth on Schedule 5.20, on a net basis there are no material gas imbalances, material take-or-pay or other prepayments with respect to any Oil and Gas Property of the Borrower or any Subsidiary (or, in the case of Oil and Gas Properties operated by operators other than the Borrower or its Subsidiaries, to the Borrower's knowledge after reasonable investigation) which would require the Borrower or any Subsidiary to deliver Hydrocarbons produced from Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.
Appears in 3 contracts
Samples: Credit Agreement (Meridian Resource Corp), Credit Agreement (Meridian Resource Corp), Credit Agreement (Meridian Resource Corp)
Future Commitments. As of the date hereof and as of the Closing Date, except as set forth on Schedule 5.20, on a net basis there are no material gas imbalances, material take-or-or- Amended and Restated Credit Agreement 43 pay or other prepayments with respect to any Oil and Gas Property of the Borrower or any Subsidiary (or, in the case of Oil and Gas Properties operated by operators other than the Borrower or its Subsidiaries, to the Borrower's knowledge after reasonable investigation) which would require the Borrower or any Subsidiary to deliver Hydrocarbons produced from Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.
Appears in 1 contract
