Common use of Gas Imbalances, Take-or-Pay or Other Prepayments Clause in Contracts

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 12 contracts

Samples: Term Loan Credit Agreement (Legacy Reserves Inc.), Credit Agreement (Legacy Reserves Inc.), Term Loan Credit Agreement (Legacy Reserves Lp)

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Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, (a) incur, become or remain liable for, any Material Gas Imbalance, or (b) allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries Subsidiary that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 8 contracts

Samples: Credit Agreement (Vanguard Natural Resources, LLC), Credit Agreement (Pyramid Oil Co), Credit Agreement (Pyramid Delaware Merger Subsidiary, Inc.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will shall not, and will not nor shall it permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that Subsidiary which would require the Borrower or such any Subsidiary to deliver, in the aggregate, two percent (2%) or more of the deliver their respective Hydrocarbons produced on a monthly production of Hydrocarbons basis from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 7 contracts

Samples: Subordinated Credit Agreement (Crusader Energy Group Inc.), Credit Agreement (Crusader Energy Group Inc.), Security Agreement (Cano Petroleum, Inc)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries Restricted Subsidiary to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefortherefor to exceed one half bcf of gas (on an mcf equivalent basis) in the aggregate.

Appears in 7 contracts

Samples: Credit Agreement (HighPeak Energy, Inc.), Credit Agreement (HighPeak Energy, Inc.), Credit Agreement (HighPeak Energy, Inc.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will shall not, and will not nor shall it permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that Subsidiary which would require the Borrower or such any Subsidiary to deliver, in the aggregate, two percent (2%) or more of the deliver their respective Hydrocarbons produced on a monthly production of Hydrocarbons basis from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor other than that which do not result in the Borrower or any Subsidiary having net aggregate liability in excess of $1,000,000.

Appears in 6 contracts

Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, not and will not permit any of its Subsidiaries to, Guarantor to allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that Guarantors which would require the Borrower or such Subsidiary Guarantors to deliver, deliver in the aggregate, two aggregate five percent (25%) or more of the their Hydrocarbons produced on a monthly production of Hydrocarbons basis from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 5 contracts

Samples: Security Agreement (Atlas Energy Resources, LLC), Revolving Credit Agreement (Atlas Energy Resources, LLC), Revolving Credit Agreement (Atlas Resources Public #16-2007 (B) L.P.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two three percent (23%) or more of the monthly production of Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 5 contracts

Samples: Credit Agreement (Constellation Energy Partners LLC), Credit Agreement (Constellation Energy Partners LLC), Credit Agreement (Constellation Energy Partners LLC)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and Borrowers will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower Borrowers or any of its Subsidiaries Restricted Subsidiary that would require the Borrower Borrowers or such Restricted Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 3 contracts

Samples: Credit Agreement (Sanchez Energy Corp), Credit Agreement (Sanchez Energy Corp), Second Lien Term Credit Agreement (Sanchez Energy Corp)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 3 contracts

Samples: Credit Agreement (Sanchez Energy Corp), Letter of Credit Facility Agreement (Black Elk Energy Finance Corp.), Credit Agreement (Black Elk Energy Finance Corp.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower No Debtor will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries Debtor that would require the Borrower or such Subsidiary Debtor to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 3 contracts

Samples: Dip Credit Agreement (Legacy Reserves Inc.), Dip Credit Agreement (Legacy Reserves Inc.), Credit Agreement (Legacy Reserves Inc.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two three percent (23%) or more of the monthly production of Hydrocarbons of the Borrower and its Subsidiaries at some future time without then or thereafter receiving full payment therefor.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement, Credit Agreement (Sanchez Production Partners LP)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will Borrowers shall not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Borrowing Base Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or Borrowers to deliver Hydrocarbons produced on a monthly basis from such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons Borrowing Base Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor other than that which do not result in Borrowers having net aggregate liability in excess of $50,000 for any calendar month.

Appears in 3 contracts

Samples: Secured Credit Agreement (Cross Border Resources, Inc.), Secured Credit Agreement (Cross Border Resources, Inc.), Secured Credit Agreement (Red Mountain Resources, Inc.)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any allow net gas imbalances in excess of its Subsidiaries to, allow gas imbalances200,000 MMBTU of gas, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary its Subsidiaries to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons deliver Oil and Gas produced on Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefore."

Appears in 2 contracts

Samples: Credit Agreement (Markwest Hydrocarbon Inc), Credit Agreement (Markwest Hydrocarbon Inc)

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Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons at some future time without then or thereafter receiving full payment therefor.. Section 9.18

Appears in 2 contracts

Samples: Term Loan Agreement (Linn Energy, LLC), Credit Agreement (Linn Energy, LLC)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that Subsidiary which would require the Borrower or such any Subsidiary to deliver, deliver in the aggregate, aggregate two percent (22.0%) or more of the their Hydrocarbons produced on a monthly production of Hydrocarbons basis from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two three percent (23%) or more of the monthly production of Hydrocarbons of the Borrower and its Subsidiaries at some future time without then or thereafter receiving full payment therefor.. 733476286 14464587

Appears in 1 contract

Samples: Credit Agreement (Sanchez Midstream Partners LP)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries Subsidiary that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Credit Agreement (Radiant Oil & Gas Inc)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two three percent (23%) or more of the monthly production of Hydrocarbons of the Borrower and its Subsidiaries at some future time without then or thereafter receiving full payment therefor.. 715347206 14464587 716874472 14464587

Appears in 1 contract

Samples: Credit Agreement (Sanchez Production Partners LP)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of and its Restricted Subsidiaries that would require the Borrower or such Subsidiary its Restricted Subsidiaries to deliver, in the aggregate, two percent (2%) or more of the monthly production of deliver Hydrocarbons produced on Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor in excess of two (2) Bcf of gas (or its equivalent) in the aggregate on a net basis for the Borrower and its Restricted Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Penn Virginia Corp)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments (excluding firm transportation contracts entered into in the ordinary course of business) with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the monthly production of Hydrocarbons at some future time without then or thereafter receiving full payment therefortherefore.

Appears in 1 contract

Samples: Term Loan Agreement (Linn Midwest Energy LLC)

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not, and will not permit any of its Subsidiaries to, allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any of its Subsidiaries that would require the Borrower or such Subsidiary to deliver, in the aggregate, two percent (2%) or more of the aggregate monthly production of Hydrocarbons of the Borrower and its Subsidiaries at some future time without then or thereafter receiving full payment therefor.

Appears in 1 contract

Samples: Credit Agreement (EV Energy Partners, LP)

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