Common use of Gas Imbalances, Prepayments Clause in Contracts

Gas Imbalances, Prepayments. As of the date hereof, except ---------------------------- as set forth on Schedule 8.19, on a net basis there are no gas imbalances, take ------------- or pay or other prepayments that would require the Borrower or any of its Subsidiaries to deliver Hydrocarbons produced from the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor. Except as set forth on Schedule 8.19, no material gas imbalances presently exist ------------- with respect to any of the Borrower's Oil and Gas Properties. Except as set forth in Schedule 8.19, none of the Borrower's Oil and Gas Properties are -------------- subject to any contractual or other arrangement whereby payment for production therefrom is to be deferred for a substantial period of time after the month in which such production is delivered (i.e., in the case of oil, not in excess of 60 days, and in the case of gas, not in excess of 90 days). Except as set forth on Schedule 8.19, none of the Oil and Gas Properties of the Borrower is subject ------------- to a contractual or other arrangement for the sale of oil or gas production for a fixed price which cannot be canceled on 90 days (or less) notice or which contains terms which are not customary in the industry. None of the Oil and Gas Properties of Borrower is subject at present to any regulatory refund obligation and no facts exist which might cause the same to be imposed.

Gas Imbalances, Prepayments. As of the date hereof, except ---------------------------- as set forth on Schedule 8.197.19, on a net basis there are no gas imbalances, take ------------- or pay or other prepayments that would require the Borrower or any of its Subsidiaries to deliver Hydrocarbons produced from the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor. Except as set forth on Schedule 8.197.19, no material gas imbalances presently exist ------------- with respect to any of the Borrower's Oil and Gas PropertiesProperties of Borrower or any of its Subsidiaries. Except as set forth in Schedule 8.197.19, none of the Borrower's Oil and Gas Properties of Borrower or any of its Subsidiaries are -------------- subject to any contractual or other arrangement whereby payment for production therefrom is to be deferred for a substantial period of time after the month in which such production is delivered (i.e., in the case of oil, not in excess of 60 days, and in the case of gas, not in excess of 90 days). Except as set forth on Schedule 8.197.19, none of the Oil and Gas Properties of the Borrower or its Subsidiaries is subject ------------- to a contractual or other arrangement for the sale of oil or gas production for a fixed price which cannot be canceled on 90 days (or less) notice or which contains terms which are not customary in the industry. None of the Oil and Gas Properties of Borrower or its Subsidiaries is subject at present to any regulatory refund obligation and no facts exist which might cause the same to be imposed.