Nature of Business; International Operations. Neither the Borrower nor any Restricted Subsidiary will allow any material change to be made in the character of its business (a) as an independent oil and gas exploration, development and production company, and (b) activities incidental to the foregoing. From and after the date hereof, the Borrower and its Domestic Subsidiaries will not acquire or make any other expenditure (whether such expenditure is capital, operating or otherwise) in or related to, any Oil and Gas Properties not located within the geographical boundaries of the United States or Canada.
Appears in 3 contracts
Samples: Senior Secured Revolving Credit Agreement (Halcon Resources Corp), Senior Secured Debtor in Possession Revolving Credit Agreement (Halcon Resources Corp), Senior Revolving Credit Agreement (Halcon Resources Corp)
Nature of Business; International Operations. Neither the Borrower nor any Restricted Material Subsidiary will allow any material change to be made in the character of its business (a) as an independent oil and gas exploration, development exploration and production company, and (b) activities incidental to the foregoing. From and after the date hereof, the Borrower and its Domestic Subsidiaries will not acquire or make any other expenditure (whether such expenditure is capital, operating or otherwise) in or related to, any Oil and Gas Properties not located within the geographical boundaries of the United States or CanadaCanada in excess of $10,000,000 in the aggregate.
Appears in 2 contracts
Samples: Credit Agreement (St Mary Land & Exploration Co), Credit Agreement (St Mary Land & Exploration Co)
