Minimum Hedging Requirements Sample Clauses

Minimum Hedging Requirements. (a) From and after the Closing Date (but without in any way superseding the provisions of Section 4.03(a) with respect to the period of thirty-six (36 months) immediately following the Closing Date), the Borrower shall enter into from time to time (and thereafter, the Borrower shall maintain in effect) Hedge Transactions with Approved Counterparties in respect of commodity prices for crude oil and natural gas such that the notional aggregate volumes of crude oil and natural gas covered by all Hedge Transactions of the Borrower as of any date of determination equal or exceed (i) seventy-five percent (75%) of the reasonably projected aggregate monthly production of natural gas and crude oil (calculated on an equivalent basis) from Oil and Gas Properties comprising Proved Developed Producing Reserves of the Loan Parties evaluated in the Initial Engineering Report or the then most recently delivered Engineering Report, for each month during the period of twelve (12) consecutive full calendar months immediately following any such date of determination; provided that if on the applicable date of determination at the end of such fiscal quarter, the Available Commitment shall not be less than fifty percent (50%) of the Facility Limit, then the above hedging threshold of seventy-five percent (75%) shall be reduced to fifty percent (50%) and (ii) fifty percent (50%) of the reasonably projected aggregate monthly production of natural gas and crude oil (calculated on an equivalent basis) from Oil and Gas Properties comprising Proved Developed Producing Reserves of the Loan Parties evaluated in the Initial Engineering Report or the then most recently delivered Engineering Report, for each month during the period of twelve (12) consecutive full calendar months immediately following the period described in the foregoing clause (i) of this Section 6.19; provided that if on the applicable date of determination at the end of such fiscal quarter, the Available Commitment shall not be less than fifty percent (50%) of the Facility Limit, then the above hedging threshold of fifty percent (50%) shall be reduced to twenty-five percent (25%). Notwithstanding anything to the contrary within this Agreement, in no ways shall any “three ways hedging” be included for purposes of determining compliance with this Section 6.19, and the Borrower shall not enter into any collar transaction that has a floor less than eighty-five percent (85%) of the Strip Price as of the date the Borrower en...
Sample 1
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Minimum Hedging Requirements. (a) The Borrower shall provide to the Administrative Agent on or before December 31, 2018, evidence satisfactory to the Administrative Agent that the Borrower has entered into (and thereafter, the Borrower shall maintain in effect) Hedge Transactions with Approved Counterparties for commodity prices with respect to the monthly notional volumes of crude oil and natural gas (calculated on an equivalent basis) such that the notional volumes of all crude oil and natural gas related Hedge Transactions of the Borrower, in the aggregate, equal or exceed (but subject to limitations set forth in Section 7.12) fifty percent (50%) of the Loan Parties’ reasonably anticipated projected production of crude oil and natural gas (calculated on an equivalent basis) from Oil and Gas Properties comprising Proved Developed Producing Reserves of the Loan Parties evaluated in the Initial Engineering Report for each remaining calendar month during the period from the Closing Date through the period ending twelve (12) full calendar months after the Closing Date.
Sample 1Sample 2
Minimum Hedging Requirements. The Borrower shall not permit, and shall not permit any of its Restricted Subsidiaries to permit, as of the last day of each calendar month (the "Measurement Date"), the notional volumes of PDP Reserves covered by Hydrocarbon Hedge Contracts to which the Borrower or any Guarantor is then a party (other than basis differential swaps on volumes already hedged pursuant to other Hedge Contracts) to be less than 50% of the Anticipated Production of PDP Reserves for the twenty-four month period immediately following the Measurement Date; provided that, the hedge positions of such Hydrocarbon Hedge Contracts shall be calculated on an annual basis from such Measurement Date. 86
Sample 1
Minimum Hedging Requirements. The Loan Parties shall at all times maintain one or more Swap Agreements hedging notional amounts of crude oil and natural gas, as applicable, covering not less than, (i) for each calendar month from the Effective Date through the calendar year ending December 31, 2018, 80%, (ii) for each calendar month during the calendar year ending December 31, 2019, 60%, and (iii) for each calendar month during the calendar year ending December 31, 2020, 40%, in each case, of the reasonably anticipated production of such crude oil and natural gas constituting PDP Reserves for such calendar month as such anticipated production is set forth in the most recent Reserve Report delivered to the Administrative Agent and the Lenders pursuant to Section 8.12.
Sample 1
Minimum Hedging Requirements. No later than 60 days after the Closing Date, the Borrower shall have entered into Swap Contracts in respect of commodities, the notional volumes for which are at least 50% of the projected production from Proved Developed Producing Reserves, and no later than 90 days after the Closing Date, the Borrower shall have entered into Swap Contracts, in the aggregate, the notional volumes for which are at least 75% of the projected production from Proved Developed Producing Reserves, as reasonably anticipated as of the Closing Date, for each month during the period during which such Swap Contract is in effect for each of crude oil, natural gas, natural gas liquids and realized prices for the natural gas production from the Marcellus region, each calculated separately (it being understood and agreed that (x) natural gas liquids volumes may be hedged directly or for crude oil volumes in a 2:1 ratio and (y) the realized prices for the Marcellus natural gas can be hedged directly using Swap Contracts for the realized prices, or indirectly using the Swap Contracts on the price differentials between a regional commodity hub and Xxxxx Hub) for the period commencing on the Closing Date until the two year anniversary of the Closing Date.
Sample 1
Minimum Hedging Requirements. (a) The Borrower shall provide to the Administrative Agent within sixty (60) days after the Effective Date evidence satisfactory to the Administrative Agent that the Borrower has entered into (and thereafter, the Borrower shall maintain in effect) Hedge Transactions with Approved Counterparties with respect to at least the notional volumes of natural gas and crude oil, as applicable, such that the notional volumes of all natural gas related Hedge Transactions and crude oil related Hedge Transactions of the Borrower and its Restricted Subsidiaries, in the aggregate, equal or exceed fifty percent (50%) of the Borrower’s and its Restricted Subsidiaries’ reasonably anticipated projected production of natural gas and crude oil, calculated separately, for the period of twelve (12) consecutive full calendar months beginning with the first full month following the date on which such evidence is delivered to the Administrative Agent.
Sample 1
Minimum Hedging Requirements. (a) The Borrower shall provide to the Administrative Agent within sixty (60) days after the Effective Date evidence satisfactory to the Administrative Agent that the Borrower has entered into (and thereafter, the Borrower shall maintain in effect) Hedge Transactions with Approved Counterparties with respect to at least the monthly notional volumes of natural gas, as applicable, set forth in on Schedule 5.10 (it being acknowledged and agreed that the intention of the parties is that the Borrower shall have entered into (and shall thereafter maintain) Hedge Transactions with Approved Counterparties (including the Hedge Transactions described above) such that the notional volumes of all natural gas related Hedge Transactions of the Borrower and its Restricted Subsidiaries, in the aggregate, equal or exceed fifty percent (50%) of the Borrower’s and its Restricted Subsidiaries’ reasonably anticipated projected production of natural gas for each month during the period from sixty (60) days after the Effective Date through the period ending twelve (12) full calendar months after the Effective Date).
Sample 1
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Related to Minimum Hedging Requirements

  • Funding Requirements In addition to the conditions precedent stated elsewhere herein, the Lenders shall not be obligated to make Revolving Loans and the L/C Issuers shall not be obligated to issue Letters of Credit unless:

  • Reporting Requirements The Company, during the period when the Prospectus is required to be delivered under the 1933 Act or the 1934 Act, will file all documents required to be filed with the Commission pursuant to the 1934 Act within the time periods required by the 1934 Act and the 1934 Act Regulations.

  • Listing Requirements The Company shall not be obligated to deliver any certificates representing any shares until all applicable requirements imposed by federal and state securities laws and by any stock exchanges upon which the shares may be listed have been fully met.

  • Compliance with Withholding Requirements Notwithstanding any other provision of this Agreement, the Trustee shall comply with all federal withholding requirements respecting payments to Certificateholders of interest or original issue discount that the Trustee reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. In the event the Trustee does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Trustee shall indicate the amount withheld to such Certificateholders.

  • Licensing Requirements Employee acknowledges that Employer is engaged in a business that is or may be subject to and exists because of privileged licenses issued by governmental authorities in Nevada, Michigan, Mississippi, Illinois, Maryland, Massachusetts, New Jersey, Macau S.A.R., and other jurisdictions in which Employer is engaged in a gaming business or where Employer has applied to (or during the Specified Term may apply to) engage in a gaming business. Employee shall apply for and obtain any license, qualification, clearance or other similar approval which Employer or any regulatory authority which has jurisdiction over Employer requests or requires that Employee obtain.

  • Filing Requirements From the date of this Agreement and until the last to occur of (i) all the Conversion Shares have been resold or transferred by the Subscribers pursuant to a registration statement or pursuant to Rule 144(b)(1)(i), or (ii) none of the Notes and Warrants are outstanding (the date of such latest occurrence being the “End Date”), the Company will (A) cause its Common Stock to continue to be registered under Section 12(b) or 12(g) of the 1934 Act, (B) comply in all respects with its reporting and filing obligations under the 1934 Act, (C) voluntarily comply with all reporting requirements that are applicable to an issuer with a class of shares registered pursuant to Section 12(g) of the 1934 Act, if the Company is not subject to such reporting requirements, and (D) comply with all requirements related to any registration statement filed pursuant to this Agreement. The Company will use its commercially reasonable best efforts not to take any action or file any document (whether or not permitted by the 1933 Act or the 1934 Act or the rules thereunder) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under said acts until the End Date. Until the End Date, the Company will continue the listing or quotation of the Common Stock on a Principal Market and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Principal Market. The Company agrees to timely file a Form D with respect to the Securities if required under Regulation D and to provide a copy thereof to each Subscriber promptly after such filing.

  • Minimum Requirements With respect to the Notes, the Issuers shall not have any obligations with respect to any underwriters or underwritten offering except a single underwritten offering of $270 million or more of Registrable Securities.

  • Withholding Requirements The Company may withhold any tax (or other governmental obligation) as a result of the exercise of the option, as a condition to the exercise of the option, and the Optionee shall make arrangements satisfactory to the Company to enable it to satisfy all such withholding requirements. The Optionee shall also make arrangements satisfactory to the Company to enable it to satisfy any withholding requirements that may arise in connection with the vesting or disposition of Option Shares purchased by exercising of the option.

  • Margin Requirements The Units are not "margin securities" under the regulations of the Board of Governors of the Federal Reserve System and, accordingly, those regulations generally are not applicable to the Offer.

  • Compliance with Capital Requirements You represent that your commitment to purchase the Securities will not result in a violation of the financial responsibility requirements of Rule 15c3-1 under the 1934 Act or of any similar provision of any applicable rules of any securities exchange to which you are subject or, if you are a financial institution subject to regulation by the Board of Governors of the U.S. Federal Reserve System, the U.S. Comptroller of the Currency, or the U.S. Federal Deposit Insurance Corporation, will not place you in violation of any applicable capital requirements or restrictions of such regulator or any other regulator to which you are subject.

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