Common use of Payments by Purchasers of Production Clause in Contracts

Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 6 contracts

Samples: Credit Agreement (Petro Resources Corp), Credit Agreement (ABC Funding, Inc), Credit Agreement (CrossPoint Energy CO)

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Payments by Purchasers of Production. All proceeds from ---------------------------------------- the sale of the Borrower’s 's interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 5 contracts

Samples: Credit Agreement (Crested Corp), Credit Agreement (Crested Corp), Credit Agreement (Us Energy Corp)

Payments by Purchasers of Production. All proceeds from the sale of the Borrowerany Credit Party’s interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 4 contracts

Samples: Credit Agreement (Northern Oil & Gas, Inc.), Credit Agreement (Northern Oil & Gas, Inc.), Credit Agreement (Northern Oil & Gas, Inc.)

Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s 's and its Subsidiaries' interests in Hydrocarbons from its their Oil and Gas Properties are currently being paid in full to the Borrower such Person by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 2 contracts

Samples: Credit Agreement (Dune Energy Inc), Credit Agreement (Dune Energy Inc)

Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s 's or any of its Subsidiary's interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower or such Subsidiary by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Gulfwest Energy Inc)

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Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s 's interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Baseline Oil & Gas Corp.)

Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s 's and each Subsidiary's interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Synergy Resources Corp)

Payments by Purchasers of Production. All proceeds from the sale of the Borrower’s and each Subsidiary’s interests in Hydrocarbons from its Oil and Gas Properties are currently being paid in full to the Borrower by the purchaser thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near such Oil and Gas Properties, and none of such proceeds are currently being held in suspense by such purchaser or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Synergy Resources Corp)

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