Mortgage and Title. Agent shall have received the mortgage and title information required to be delivered by Borrower pursuant to Section 6 of this Agreement;
Mortgage and Title. On or before July 26, 2019 (or such later date as may be acceptable to the Administrative Agent in its sole discretion), the Borrower shall from time to time upon the reasonable request of the Administrative Agent, take such actions and execute and deliver such documents and instruments as the Administrative Agent shall require to ensure that the Administrative Agent shall, at all times, have received (a) satisfactory title evidence, which title evidence shall be in form and substance acceptable to the Administrative Agent in its sole reasonable discretion and shall include information regarding the before payout and after payout ownership interests held by the Borrower and the Borrower's Restricted Subsidiaries, for all xxxxx located on the Oil and Gas Properties, covering at least (i) 80% of the present value of the Proven Reserves of the Borrower and its Restricted Subsidiaries or (ii) 95% of the present value of PDP Reserves of the Borrower and its Restricted Subsidiaries, in each case, as reasonably determined by the Administrative Agent, and (b) Mortgages and such other Security Documents to the extent necessary to cause the Administrative Agent to have an Acceptable Security Interest in at least 90% (by value) of the Loan Parties’ Proven Reserves and the Oil and Gas Properties relating thereto.
Mortgage and Title. After giving effect to the Principle Acquisition and any additional title information and Security Instruments delivered by the Credit Parties in connection therewith, (a) the Administrative Agent shall have received reasonably satisfactory title information on the Credit Parties’ Proved Mineral Interests (including the Principle Assets) evaluated in the Specified Reserve Report (as defined below) to the extent required by Section 5.2 of the Credit Agreement and (b) the Mortgaged Properties shall represent at least the Required Reserve Value of all of the Credit Parties’ Proved Mineral Interests (including the Principle Assets) evaluated in the Reserve Report prepared by the Borrower and dated as of October 1, 2021 (as supplemented by any applicable Reserve Report or engineering database delivered to the Banks prior to the Fourth Amendment Effective Date relating to the Principle Assets) (collectively, the “Specified Reserve Report”).
Mortgage and Title. On or before the date that is thirty (30) days following the Third Amendment Effective Date (or such later date as the Administrative Agent may agree), the Borrower shall and shall cause each other Credit Party to (a) execute and deliver Mortgages, amendments to Mortgages, or amendments and restatements of Mortgages, in form and substance reasonably satisfactory to the Administrative Agent, as the Administrative Agent may reasonably require to comply with the requirements of Section 6.09 of the Credit Agreement and (b) deliver title information required to comply with Section 6.10 of the Credit Agreement.
Mortgage and Title. By no later than January 31, 2018 (or such longer period as may be agreed to by the Administrative Agent), the Borrower shall deliver to the Administrative Agent such Security Documents and title as are necessary for the Borrower to be in compliance with Section 6.15 of the Credit Agreement. The failure to comply with this Section 7.01 shall constitute an Event of Default under the Credit Agreement.
Mortgage and Title. The Administrative Agent shall have received executed mortgages and other collateral documents satisfactory to it covering at least 50% of the Oil and Gas Properties required to be mortgaged pursuant to Section 6 hereof with the remaining 50% of the required mortgages to be executed and delivered within sixty (60) days thereafter. In addition, the Administrative Agent and its counsel shall have satisfactorily completed title review covering 50% of the PW10 of such mortgaged Oil and Gas Properties with the remaining 50% to be completed within sixty (60) days thereafter;
Mortgage and Title. On or before the date that is 30 days after the Effective Date (or such later date as may be acceptable to the Administrative Agent in its sole discretion), the Borrower shall from time to time upon the reasonable request of the Administrative Agent, take such actions and execute and deliver such documents and instruments as the Administrative Agent shall require to ensure that the Administrative Agent shall, at all times, have received (i) evidence of title reasonably satisfactory in form and substance to the Administrative Agent covering at least 80% (by PV10) of the Proven Reserves as evaluated in the most recently delivered Engineering Report and (ii) Mortgages and such other Security Documents requested by the Administrative Agent to the extent necessary to cause the Administrative Agent to have an Acceptable Security Interest in at least 90% (by PV10) of the Proven Reserves as evaluated in the most recently delivered Engineering Report and in at least 90% (by PV10) of the PDP Reserves as evaluated in the most recently delivered Engineering Report.
Mortgage and Title. Within ten (10) Business Days following the Effective Date (or such longer period as may be agreed to by the Administrative Agent), the Borrower shall deliver to the Administrative Agent such Security Documents and related title opinions and/or other title information and data acceptable to the Administrative Agent as are necessary for the Borrower to be in compliance with Section 6.15 of the Credit Agreement.
Mortgage and Title. The Loan Parties shall have executed and delivered to the Administrative Agent Mortgages and title information, in each case, reasonably satisfactory to the Administrative Agent with respect to the Oil and Gas Properties that are included in the Borrowing Base, or the portion thereof, as required by Sections 5.12 and 5.13 of the Credit Agreement.
Mortgage and Title. After giving effect to the Silverback Acquisition and any additional title information and Security Instruments delivered by the Credit Parties in connection therewith, the Administrative Agent shall have received satisfactory title information on at least 85% of the total value of the Proved Oil and Gas Properties evaluated in the most recently delivered Reserve Report (as supplemented by any applicable Reserve Report or engineering database delivered to the Lenders prior to the Third Amendment Effective Date relating to the Silverback Assets) and the Mortgaged Properties shall represent at least 85% of the total value of the Proved Oil and Gas Properties evaluated in the most recently delivered Reserve Report (as supplemented by any applicable Reserve Report or engineering database delivered to the Lenders prior to the Third Amendment Effective Date relating to the Silverback Assets).
