Common use of Marketing Activities Clause in Contracts

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (i) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties during the period of such contract, (ii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, the Borrower or their Subsidiaries that the Parent Guarantor, the Borrower or their Subsidiaries have the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (iii) other contracts for the purchase and/or sale of Hydrocarbons of third parties (A) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (B) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their its Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (ia) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties comprising proved reserves during the period of such contract, (iib) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties comprising proved reserves of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, Borrower and its Restricted Subsidiaries that the Borrower or their one of its Restricted Subsidiaries that the Parent Guarantor, the Borrower or their Subsidiaries have has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (iiic) other contracts for the purchase and/or sale of Hydrocarbons of third parties (Ai) which that have generally offsetting provisions (i.e. i.e., corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (Bii) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their the Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (ia) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties constituting Proved Reserves during the period of such contract, (iib) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties constituting Proved Reserves of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, Borrower and its Restricted Subsidiaries that the Borrower or their Subsidiaries that the Parent Guarantor, the Borrower or their Subsidiaries have a Restricted Subsidiary has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business business, and (iiic) other contracts for the purchase and/or sale of Hydrocarbons of third parties (Ai) which have generally offsetting provisions (i.e. i.e., corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (Bii) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their the Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (i) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties during the period of such contract, (ii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, the Borrower or their the Restricted Subsidiaries that the Parent Guarantor, the Borrower or their the Restricted Subsidiaries have the right to market pursuant to joint operating agreements, unitization agreements, agreements relating to DrillCos or other similar contracts that are usual and customary in the oil and gas business and (iii) other contracts for the purchase and/or sale of Hydrocarbons of third parties (A) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (B) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.”

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their the Borrower’s Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (i) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties during the period of such contract, (ii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, Borrower and the Borrower’s Subsidiaries that the Borrower or their one of the Borrower’s Subsidiaries that the Parent Guarantor, the Borrower or their Subsidiaries have has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (iii) other contracts for the purchase and/or sale of Hydrocarbons of third parties (A) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (B) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their the Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (i) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties during the period of such contract, (ii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, the Borrower or their the Restricted Subsidiaries that the Parent Guarantor, the Borrower or their the Restricted Subsidiaries have the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (iii) other contracts for the purchase and/or sale of Hydrocarbons of third parties (A) which have generally offsetting provisions (i.e. corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (B) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.” 2.53 Amendment to Section 8.17. Section 8.17 is hereby amended by deleting such Section in its entirety and replacing it with the following:

Marketing Activities. The Parent Guarantor and the Borrower will not, and will not permit any of their its Restricted Subsidiaries to, engage in marketing activities for any Hydrocarbons attributable to the Borrowing Base Properties or enter into any contracts related thereto other than (ia) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from their proved Oil and Gas Properties therefrom during the period of such contract, (iib) contracts for the sale of such Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of third parties during the period of such contract associated with the Oil and Gas Properties of the Parent Guarantor, Borrower and its Restricted Subsidiaries that the Borrower or their one of its Restricted Subsidiaries that the Parent Guarantor, the Borrower or their Subsidiaries have has the right to market pursuant to joint operating agreements, unitization agreements or other similar contracts that are usual and customary in the oil and gas business and (iiic) other contracts for the purchase and/or sale of such Hydrocarbons of third parties (Ai) which have generally offsetting provisions (i.e. i.e., corresponding pricing mechanics, delivery dates and points and volumes) such that no material “position” is taken and (Bii) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.