Common use of Production Report Clause in Contracts

Production Report. Promptly after preparation but no later than 45 days after the end of each fiscal quarter, a report from the Borrower in form and substance reasonably satisfactory to the Administrative Agent setting forth the production of crude oil and natural gas, each calculated separately, for each month in such quarter. With each such report, the Borrower shall either (i) certify, represent and warrant that the internally forecasted production from the Oil and Gas Properties of the Borrower and the Restricted Subsidiaries for all months in which the Borrower or one of its Restricted Subsidiaries has Swap Agreements equals or exceeds their prior month’s production of each of crude oil and natural gas, calculated separately, or (ii) deliver an additional detailed forecasted production of each of crude oil and natural gas, calculated separately, for the next 48 months or if any Swap Agreements have a tenor in excess of 48 months, for a period corresponding to the tenor of such Swap Agreements.

Production Report. Promptly after preparation but no noSwap Agreement Projections. No later than 45 days after the end of each fiscal quarter, a report from the Borrower in form and substance reasonably satisfactory to the Administrative Agent setting forth the production of crude oil and natural gas, each calculated separately, for each month in such quarter. With each such report, the Borrower shall either (i) certify, represent and warrant that the internally forecasted production from the Oil and Gas Properties of the Borrower and the Restricted Subsidiaries for all months in which the Borrower or one of its Restricted Subsidiaries has Swap Agreements equals or exceeds their prior month’s production of each of crude oil and natural gas, calculated separately, or (ii) deliver an additional detailed forecasted production of each of crude oil and natural gas, calculated separately, for the next 48 months or if any Swap Agreements have a tenor in excess of 48 months, for a period corresponding to the tenor of such Swap Agreements.