Common use of Oil and Gas Reserve Reports Clause in Contracts

Oil and Gas Reserve Reports. Deliver to the Agent and each Lender, no later than April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Agent and the Lenders, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Agent and the Lenders as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Properties as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, discounted at a stated per annum discount rate of proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas-balancing liabilities of the Borrower.

Oil and Gas Reserve Reports. Deliver to the Agent promptly, and each Lender, in any event no later than April 1 of in each year during the term of this Agreementyear, engineering reports in form and substance reasonably satisfactory to the Agent and the LendersRequired Holders, certified by Garb Xxxxx Xxxxxx & Associates, Inc. (or any nationally- other nationally or regionally-regionally recognized independent consulting petroleum engineers acceptable to the Agent and the Lenders engineers) as fairly and accurately setting forth forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to of the Oil Company and Gas Properties its Restricted Subsidiaries as of January 1 of the year for which such reserve reports are furnished, , (ii) the aggregate present value of the future net income with respect to such Oil and Gas Properties, reserves discounted at a stated per annum annual discount rate of proven and producing reserves, rate, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and and (iv) information with respect to the "take-or-pay," "prepayment," and gas-balancing liabilities of the Borrower.Company and its Restricted Subsidiaries;

Oil and Gas Reserve Reports. Deliver to the Agent and each Lender, Lender no later than April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Agent and the Lenders, Lender certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Agent and the Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-or-pay," "prepayment," and gas-balancing liabilities of the Borrower.

Oil and Gas Reserve Reports. (a) Deliver to the Agent and each Lender, no later --------------------------- than April 1 of each year during the term of this Agreement, engineering reports in form and substance satisfactory to the Agent and the LendersAgent, certified by any nationally- or regionally-recognized independent consulting petroleum engineers acceptable to the Agent and the Lenders Lender as fairly and accurately setting forth (i) the proven and producing, shut-in, behind-pipe, and undeveloped oil and gas reserves (separately classified as such) attributable to the Oil and Gas Mortgaged Properties as of January 1 of the year for which such reserve reports are furnished, (ii) the aggregate present value of the future net income with respect to such Oil and Gas Mortgaged Properties, discounted at a stated per annum discount rate of proven and producing reserves, (iii) projections of the annual rate of production, gross income, and net income with respect to such proven and producing reserves, and (iv) information with respect to the "take-take- or-pay," "prepayment," and gas-balancing liabilities of the Borrower.