Common use of Interim Reserve Report Clause in Contracts

Interim Reserve Report. (i) Prior to April 1 of each year, commencing the first such day after the Closing Date, a Reserve Report effective as of the preceding December 30 of the preceding year by petroleum engineers who are employees of the Borrower (or, at the Borrower’s option, by independent engineers as specified above), in the same form and scope as the report in Section 4.1(h), which report shall be accompanied by updates, if any, to the most recent reports specified in Section 4.1(h) to the extent necessary for such reports to be accurate in all material respects on the date of the applicable Reserve Report provided pursuant to this Section 4.1(i).

Appears in 1 contract

Samples: Credit Agreement (Warren Resources Inc)

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Interim Reserve Report. (i) Prior to April October 1 of each year, commencing the first such day after the Closing Date, a Reserve Report effective as of the preceding December June 30 of the preceding year by petroleum engineers who are employees of the Borrower (or, at the Borrower’s option, by an independent engineers as specified above), in the same form and scope as the report in Section 4.1(h4.1(i), which report shall be accompanied by updates, if any, to the most recent reports specified in Section 4.1(h4.1(i) to the extent necessary for such reports to be accurate in all material respects on the date of the applicable Reserve Report provided pursuant to this Section 4.1(i4.1(j);.

Appears in 1 contract

Samples: Credit Agreement (Warren Resources Inc)

Interim Reserve Report. (i) Prior to April October 1 of each year, commencing the first such day after the Closing Date, a Reserve Report effective as of the preceding December June 30 of the preceding year by petroleum engineers who are employees of the Borrower (or, at the Borrower’s option, by an independent engineers as specified above), in the same form and scope as the report in Section 4.1(h4.1(i), which report shall be accompanied by updates, if any, to the most recent reports specified in Section 4.1(h4.1(i) to the extent necessary for such reports to be accurate in all material respects on the date of the applicable Reserve Report provided pursuant to this Section 4.1(i4.1(j).

Appears in 1 contract

Samples: Second Lien Credit Agreement (Warren Resources Inc)

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Interim Reserve Report. (i) Prior to April October 1 of each year, commencing the first such day after the Closing Date, a Reserve Report effective as of the preceding December June 30 of the preceding year by petroleum engineers who are employees of the Borrower (or, at the Borrower’s option, by an independent engineers as specified above), in the same form and scope as the report in Section 4.1(h4.1(i), which report shall be accompanied by updates, if any, to the most recent reports specified in Section 4.1(h4.1(i) to the extent necessary for such reports to be accurate in all material respects on the date of the applicable Reserve Report provided pursuant to this Section 4.1(i4.1(j).;

Appears in 1 contract

Samples: Credit Agreement (Warren Resources Inc)

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