Gas Balancing Agreements and Advance Payment Contracts. Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, incur, become or remain liable for, or permit any of its Subsidiaries to incur, become or remain liable for, at any time (a) any Material Gas Imbalance, or (b) Advance Payments under Advance Payment Contracts which are to be satisfied by delivery of production in excess of $100,000 in the aggregate.
Appears in 3 contracts
Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)
Gas Balancing Agreements and Advance Payment Contracts. Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, incur, become or remain liable for, or permit any of its Subsidiaries to incur, become or remain liable for, at any time (a) any Material Gas Imbalance, or (b) Advance Payments under Advance Payment Contracts which are to be satisfied by delivery of production in excess of $100,000 the Materiality Threshold in the aggregate.
Appears in 2 contracts
Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)
Gas Balancing Agreements and Advance Payment Contracts. Borrower shall not, and shall not permit any of its Subsidiaries the other Obligated Parties to, directly or indirectly, incur, become or remain liable for, or permit any of its Subsidiaries other Obligated Party to incur, become or remain liable for, at any time (a) any Material Gas Imbalance, or (b) Advance Payments under Advance Payment Contracts which are to be satisfied by delivery of production in excess of $100,000 25,000 in the aggregate.
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