Common use of Gas Balancing Agreements and Advance Payment Contracts Clause in Contracts

Gas Balancing Agreements and Advance Payment Contracts. Solely to the extent Borrower or any Restricted Subsidiary owns any working interests in any Proved Mineral Interests, except as set forth on the most recent certificate delivered pursuant to Section 8.1(c), there are no Material Gas Imbalances or Advance Payment Contracts which would require Borrower or any of its Restricted Subsidiaries to deliver Hydrocarbons produced from their Borrowing Base Properties comprised of working interests in Proved Mineral Interests at some future time without then or thereafter receiving full payment therefor exceeding one-half bcf of gas (on an mcf equivalent basis) in the aggregate; provided that to the extent any such working interests in Proved Mineral Interests owned by any Credit Party are operated by operators other than any Credit Party or an Affiliate of any Credit Party, Borrower has no knowledge of non-compliance based upon information available to Borrower from such operators.

Appears in 4 contracts

Samples: Credit Agreement (Sitio Royalties Corp.), Credit Agreement (Brigham Minerals, Inc.), Credit Agreement (Brigham Minerals, Inc.)

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Gas Balancing Agreements and Advance Payment Contracts. Solely to the extent Borrower or any Restricted Subsidiary owns any working interests in any Proved Mineral Interests, except as set forth on the most recent certificate delivered pursuant to Section 8.1(c), there are no Material Gas Imbalances or Advance Payment Contracts which would require Borrower or any of its Restricted Subsidiaries to deliver Hydrocarbons produced from their Borrowing Base Properties comprised of working interests in Proved Mineral Interests at some future time without then or thereafter receiving full payment therefor exceeding one-half bcf of gas (on an mcf equivalent basis) in the aggregate; provided that to the extent any such working interests in Proved Mineral Interests owned by any Credit Party are operated by operators other than any Credit Party or an Affiliate of any Credit Party, Borrower has no knowledge of non-non- compliance based upon information available to Borrower from such operators.

Appears in 1 contract

Samples: Credit Agreement (Brigham Minerals, Inc.)

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