Common use of Gas Contracts Clause in Contracts

Gas Contracts. No Credit Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

Gas Contracts. No Credit PartyNeither the Borrower nor any of the Guarantors, as of the date hereof or as disclosed to the Administrative Agent in writinghereof, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without then or thereafter receiving full payment therefor at the time of delivery therefor, or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

Gas Contracts. No Credit Loan Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

Gas Contracts. No Restricted Credit Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “"take-or-pay” " or “"prepayment” " provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s 's and its Subsidiaries’ ' Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

Gas Contracts. No Credit Loan Party, as of the date hereof or as disclosed to the Administrative DIP Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “"take-or-pay” " or “"prepayment” " provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s 's and its Restricted Subsidiaries’ ' Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative DIP Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

Gas Contracts. No Credit Loan Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “"take-or-pay” " or “"prepayment” " provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s 's and its Restricted Subsidiaries’ ' Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.