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 allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor to exceed 500 mmcf equivalent in the aggregate at all times except for such amounts that are covered by adequate reserves, which reserves (or the future cash flow therefrom) are excluded from the most recent Reserve Report.

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor to exceed 500 mmcf a volume equal to 1% of the total proved reserves (on an mcf equivalent basis) set forth in the aggregate at all times except for such amounts that are covered by adequate reserves, which reserves (or most recently delivered Reserve Report in the future cash flow therefrom) are excluded from the most recent Reserve Reportaggregate.

Gas Imbalances, Take-or-Pay or Other Prepayments. The Borrower will not allow gas imbalances, take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Borrower or any Restricted Subsidiary that would require the Borrower or such Restricted Subsidiary to deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor to exceed 500 mmcf a volume equal to 12% of the total proved reserves (on an mcf equivalent basis) set forth in the aggregate at all times except for such amounts that are covered by adequate reserves, which reserves (or most recently delivered Reserve Report in the future cash flow therefrom) are excluded from the most recent Reserve Reportaggregate.