Lease Status/Rentals/Royalties. All rentals, bonuses, royalties and operating expenses payable with respect to the Oil and Gas Interests of Company or any Subsidiary have been duly and properly paid by Company or Subsidiary, in accordance with the applicable contracts, the oil and gas leases, deeds, and applicable Law, except where unpaid royalties and other payments for or measured by production have been properly accrued and reflected as a liability in the most recent Financial Statements in accordance with GAAP. There are no currently pending requests or demands for payments, adjustments of payments or performance pursuant to obligations under the Oil and Gas Interests of Company or any Subsidiary, other than routine inquiries received in the ordinary course of business which have not resulted (and are not reasonably and in good faith expected to result in) any material claims, threat of claims, or other demands. The Company has not received a written notice of default with respect to the payment or calculation of any rentals, bonuses or royalties or other payments attributable to the Oil and Gas Interests of Company or any Subsidiary.
Lease Status/Rentals/Royalties. To Emerald’s Knowledge, all rentals, royalties and operating expenses payable with respect to the Emerald Assets prior to the Effective Time, have been duly and properly paid in all material respects, except as would not, individually or in the aggregate, have a Material Adverse Effect. To Emerald’s Knowledge, there are no currently pending requests or demands for payments, adjustments of payments or performance pursuant to obligations under the Leases, to the extent that non-compliance with the forgoing would have a Material Adverse Effect on any of the Emerald Assets. Execution Version
Lease Status/Rentals/Royalties. To Liberty’s Knowledge, all rentals, royalties and operating expenses payable with respect to the Liberty Assets prior to the Effective Time, have been duly and properly paid in all material respects, except as would not, individually or in the aggregate, have a Material Adverse Effect. To Liberty’s Knowledge, there are no currently pending requests or demands for payments, adjustments of payments or performance pursuant to obligations under the Leases, to the extent that non-compliance with the forgoing would have a Material Adverse Effect on any of the Assets.
Lease Status/Rentals/Royalties. To Seller’s actual knowledge, all conditions necessary to keep each Lease in full force and effect in accordance with its terms and all obligations under the Leases have been fully performed, including the proper and timely payment of all royalties, delay rentals, shut-in rentals and other payments due under the Leases. Except as set forth on Schedule 6.12, to Seller’s actual knowledge, there are currently pending no requests or demands for payments, adjustments of payments or performance pursuant to obligations under the Leases, and Seller has not received a written notice of default with respect to the payment or calculation of rentals or royalties.
Lease Status/Rentals/Royalties. Except as set forth on Section 7.15 of the Disclosure Schedule, (i) all bonuses, rentals, royalties and operating expenses payable with respect to the Assets prior to the Effective Time have been duly and properly paid by the Company in accordance with the Material Agreements, the Leases and applicable Law, except as would not, individually or in the aggregate, have a Material Adverse Effect, (ii) there are no currently pending requests or demands for payments, adjustments of payments or performance pursuant to obligations under the Leases, to the extent that non-compliance with the foregoing by the Company would have a Material Adverse Effect and (iii) the Company has not received a written notice of default with respect to the payment or calculation of any rentals or royalties attributable to the Assets.
