Protection Against Drainage. To the extent that the Oil and Gas Properties of any Loan Party (i) are operated by Borrower or its Subsidiaries, Borrower or its Subsidiaries shall, or shall cause its Subsidiaries to, act as a reasonably prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from such Oil and Gas Properties and (ii) are not operated by Borrower or its Subsidiaries, Borrower shall utilize, or cause its Subsidiaries to utilize, its property and contractual rights as a reasonably prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from such Oil and Gas Properties.
Protection Against Drainage. Until the Obligations have been fully and finally paid and performed, (i) to the extent that Properties are operated by Borrower, Borrower shall act as a prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties and (ii) to the extent that Properties are not operated by Borrower, Borrower shall utilize its property and contractual rights as a prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties.
Protection Against Drainage. To the extent that the Loan Parties' Oil and Gas Properties (i) are operated by the Borrower or its Subsidiaries, the Borrower shall, or shall cause its Subsidiaries to, act as a reasonably prudent operator with respect to the occurrence and prevention of any drainage of Hydrocarbons from their Oil and Gas Properties and (ii) are not operated by the Borrower of its Subsidiaries, the Borrower shall utilize, or shall cause its Subsidiaries to utilize, its property and contractual rights as a reasonably prudent owner with respect to the occurrence and prevention of any drainage of Hydrocarbons from their Oil and Gas Properties.
Protection Against Drainage. (A) Xxxxxx agrees to protect the Leased Premises from drainage of oil, gas or other liquid or gaseous minerals by a well producing from adjacent or nearby property (“Adjacent Well”) not owned by Lessor and not included in a Unit (“Drainage”). It shall be presumed, subject to rebuttal by Xxxxxx, that Drainage is occurring if the Adjacent Well is producing within six hundred and sixty feet (660’) of the Leased Premises (or within any spacing or pooling unit distance greater than six hundred and sixty feet (660’) established by the Commissioner of Conservation), provided such well is not exempt from Statewide Order 29-E spacing requirements. This presumption shall not serve to limit or preclude Xxxxxx’s obligation to protect the Leased Premises from Drainage in cases where the facts giving rise to the presumption do not exist.
Protection Against Drainage. To the extent that the Oil and Gas Properties (i) are operated by the Borrower or its Subsidiaries (other than any Foreign Subsidiary), the Borrower shall, or shall cause its Subsidiaries (other than any Foreign Subsidiary) to, act as a prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Oil and Gas Properties and (ii) are not operated by the Borrower or its Subsidiaries (other than any Foreign Subsidiary), the Borrower shall utilize, or shall cause its Subsidiaries (other than any Foreign Subsidiary) to utilize, its property and contractual rights as a prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Oil and Gas Properties.
Protection Against Drainage. To the extent that the Oil and Gas Properties of any Borrower Party (i) are operated by a Borrower Party, Borrower Parties shall act as a reasonably prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from such Oil and Gas Properties and (ii) are not operated by a Borrower Party, Borrower Parties shall utilize their property and contractual rights as a reasonably prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from such Oil and Gas Properties.
Protection Against Drainage. Until the Obligations have been fully and finally paid and performed, (i) to the extent that Properties are operated by Borrower, Borrower shall act as a prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties and (ii) to the extent that Properties are not operated by Borrower, Borrower shall, or use commercially reasonable efforts to cause the Operator to, utilize its property and contractual rights as a prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties, other than in the ordinary course of operations in accordance with industry practice and procedure.
Protection Against Drainage. Until the Obligations have been fully and finally paid and performed, (i) to the extent that Properties are operated by the Issuer, the Issuer shall act as a prudent operator in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties and (ii) to the extent that Properties are not operated by the Issuer, the Issuer shall utilize its property and contractual rights as a prudent owner in an effort to identify and prevent the occurrence of any drainage of Hydrocarbons from the Properties.
