Common use of Reserve Reports Clause in Contracts

Reserve Reports. (a) On or before March 1st and September 1st of each year, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties as of the immediately preceding January 1st and July 1st. The Reserve Report as of January 1st delivered on or before March 1st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other Reserve Report of each year may be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before March 1st February 15th and September 1st August 15th of each year, commencing August 15, 2016, the Borrower Parent Guarantor shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties as of the immediately preceding January 1st and July 1st. The Reserve Report as of January 1st delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the July 1 Reserve Report of each year may shall be prepared in form and substance and shall use forecasts and assumptions satisfactory to the Administrative Agent and be by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before March 1st 1st, June 1st, September 1st, and September December 1st of each year, commencing June 1, 2017, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties its Subsidiaries as of the immediately preceding January 1st December 31st, March 31st, June 30th and July 1stSeptember 30th respectively. The Reserve Report as of January 1st delivered on or before March 1st December 31st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each the other Reserve Report Reports of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate in all material respects and to have been prepared in accordance with the procedures used in the immediately preceding January 1 December 31st Reserve Report.

Reserve Reports. (a) On or before March July 1st and September January 1st of each year, commencing July 1, 2014, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties its Subsidiaries as of the immediately preceding January May 1st and July November 1st. The Reserve Report as of January 1st delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the July 1 Reserve Report of each year may shall be prepared either (i) by one or more Approved Petroleum Engineers or internally (ii) by or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.1

Reserve Reports. (a) On or before March 1st 1 and September 1st 1 of each yearyear commencing March 1, the 2012, Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties dated as of the immediately preceding January 1st and July 1st. The 1 of that year for the Reserve Report due March 1 and as of January 1st the preceding July 1 of that year for the Reserve Report due September 1. Each Reserve Report required to be delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineersaudited by Netherland, and each Xxxxxx & Associates, Inc. or another independent petroleum consulting firm reasonably acceptable to Administrative Agent. Each other Reserve Report of each year may shall be prepared by one or more Approved Petroleum Engineers or internally Borrower’s in-house staff under the supervision of the chief engineer of the Borrower appropriate officer who shall certify such Reserve Report to be true and accurate and in all material respects and, except as disclosed therein, to have been prepared in accordance with the methodology and procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before Before March 1st and September 1st of each year, the Borrower Borrowers shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower Borrowers and the other Loan Parties their Subsidiaries as of the immediately preceding January 1st December 31st and July 1stJune 30th, as applicable. The Reserve Report as of January 1st to be delivered on or before March 1st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the Reserve Report to be delivered on or before September 1st of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrowers. In each case, the chief engineer of each Co-Borrower who shall certify such Reserve Report is to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before March 1st April 1 and September 1st October 1 of each year, commencing October 1, 2019, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties its Subsidiaries as of the immediately preceding January 1st 1 (with respect to the Reserve Report due April 1) and July 1st1 (with respect to the Reserve Report due October 1). The Reserve Report as of January 1st delivered on or before March 1st due April 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the Reserve Report due October 1 of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve ReportReport most recently prepared by the Approved Petroleum Engineers.

Reserve Reports. (a) On or before March April 1st and September October 1st of each year, commencing April 1, 2015, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the all Oil and Gas Properties of and interests owned by the Borrower and the other Loan Parties its Restricted Subsidiaries which have attributable to them Proved Reserves as of the immediately preceding January 1st and July 1st. The Reserve Report as of January 1st delivered on or before March 1st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, Engineers and each other the Reserve Report as of July 1st of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower. In each case, the chief engineer of Borrower who shall certify such Reserve Report is based on information that was prepared in good faith based upon assumptions believed to be true and accurate reasonable at the time and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before March May 1st and September November 1st of each year, commencing November 1, 2022, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Borrowing Base Properties of the Borrower and the other Loan Parties as of the immediately preceding January 1st and or July 1st, as applicable. The Reserve Report as of January 1st and delivered on or before March May 1st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other Reserve Report of each year may be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and in all material respects and, except as otherwise specified therein, to have been prepared in all material respects in accordance with the procedures used in the immediately preceding January 1 Reserve Report.

Reserve Reports. (a) On or before March 1st, June 1st. September 1st and September December 1st of each year, commencing June 1, 2017, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties its Subsidiaries as of the immediately preceding January 1st December 31st, March 31st, June 30th and July 1stSeptember 30th respectively. The Reserve Report as of January 1st delivered on or before March 1st December 31st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each the other Reserve Report Reports of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate in all material respects and to have been prepared in accordance with the procedures used in the immediately preceding January 1 December 31st Reserve Report.

Reserve Reports. (a) On a)On or before March 1st 1 and September 1st 1 of each year, commencing March 1, 2015, the Borrower shall furnish to the Administrative Agent and (for distribution to the Lenders Lenders) a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Credit Parties as of the immediately preceding January 1st and 1 (or December 31) or July 1st1 (or June 30), as applicable, of such year. The Reserve Report as of January 1st to be delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the Reserve Report to be delivered on or before September 1 of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 (or December 31) Reserve Report.

Reserve Reports. (a) On or before March 1st, May 15th, September 1st and September 1st November 15th of each year, commencing March 1, 2018, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties its Subsidiaries as of the immediately preceding January 1st December 31st, March 31st, June 30th and July 1stSeptember 30th respectively. The Reserve Report Reports as of January 1st delivered on or before March 1st June 30th and December 31st of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each the other Reserve Report Reports of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate in all material respects and to have been prepared in accordance with the procedures used in the immediately preceding January 1 June 30th or December 31st Reserve Report, as applicable.

Reserve Reports. (a) On or before March 1st 1 and September 1st 1 of each year, commencing March 1, 2015, the Borrower shall furnish to the Administrative Agent and (for distribution to the Lenders Lenders) a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Credit Parties as of the immediately preceding January 1st and 1 (or December 31) or July 1st1 (or June 30), as applicable, of such year. The Reserve Report as of January 1st to be delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the Reserve Report to be delivered on or before September 1 of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding January 1 (or December 31) Reserve Report.

Reserve Reports. (a) On or before March 1st and September 1st of each year, commencing March 1, 2017 (except that the report due March 1, 2017 may be delivered on or before May 1, 2017), the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and the other Loan Parties Obligors as of the immediately preceding January 1st and July 1st. The Reserve Report as of January 1st delivered on or before March 1st 1 of each year (the “January 1 Reserve Report”) shall be prepared by one or more Approved Petroleum Engineers, and each other the July 1 Reserve Report of each year may shall be prepared by one or more Approved Petroleum Engineers or internally under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate in all material respects and to have been prepared in accordance with the procedures used in the immediately preceding January 1 Reserve Report.