Common use of Notice of Sales of Oil and Gas Properties Clause in Contracts

Notice of Sales of Oil and Gas Properties. In the event the Borrower or any of its Subsidiaries intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties included in the most recently delivered Reserve Report (or any Equity Interests in any Subsidiary owning interests in such Oil and Gas Properties) during any period between two successive Scheduled Redetermination Dates having a value, individually or in the aggregate, in excess of $1,000,000 (in each case as assigned to such Oil and Gas Properties in the most recently delivered Reserve Report), prior written notice of such disposition, the price thereof, the anticipated date of closing, and any other details thereof requested by the Administrative Agent or any Lender.

Notice of Sales of Oil and Gas Properties. In the event the any Borrower or any of its their Subsidiaries intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties included in the most recently delivered Reserve Report (or any Equity Interests in any Subsidiary owning interests in such Oil and Gas Properties) during any period between two successive Scheduled Redetermination Dates scheduled redetermination dates having a fair market value, individually or in the aggregateaggregate (of all sales, dispositions or other transfers of the Borrowers and Subsidiaries taken as a whole), in excess of $1,000,000 (in each case as assigned to such Oil and Gas Properties in the most recently delivered Reserve Report)5,000,000, prior written notice of such disposition, the price thereof, the anticipated date of closing, and any other details thereof requested by the Administrative Agent or any LenderAgent.

Notice of Sales of Oil and Gas Properties. In the event the Borrower or any of its Restricted Subsidiaries intends to sell, transfer, assign or otherwise dispose of any Oil or Gas Properties of the Borrower or its Restricted Subsidiaries included in the most recently delivered Reserve Report (or any Equity Interests in any Restricted Subsidiary owning interests in such Oil and Gas Properties) during any period between two successive Scheduled Redetermination Dates having a fair market value, individually or in the aggregate, in excess of $1,000,000 (in each case as assigned to such Oil and Gas Properties in the most recently delivered Reserve Report)50,000,000, prior written notice of such disposition, the price thereof, the anticipated date of closing, and any other details thereof reasonably requested by the Administrative Agent or any Lender.