Revenue and Cost Bearing Interest. The Mortgagor’s ownership of the Hydrocarbon Interests and the undivided interests therein as specified on Exhibit A will, after giving full effect to all Permitted Encumbrances, afford the Mortgagor not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Interest specified as Net Revenue Interest on attached Exhibit A and will cause the Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as Working Interest on Exhibit A, of the costs of drilling, developing and operating the xxxxx identified on Exhibit A except to the extent of any proportionate corresponding increase in the Net Revenue Interest.
Revenue and Cost Bearing Interest. [The Trustor’s ownership of the Hydrocarbon Interests and the undivided interests therein as specified on Exhibit A will, after giving full effect to all Permitted Encumbrances, afford the Trustor not materially less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Interest specified as Net Revenue Interest on attached Exhibit A and will cause the Trustor to bear not materially more than that portion (expressed as a fraction, percentage or decimal), specified as Working Interest on Exhibit A, of the costs of maintaining, developing and operating the xxxxx identified on Exhibit A except to the extent of any proportionate corresponding increase in the Net Revenue Interest.
Revenue and Cost Bearing Interest. Borrower's ownership of the Hydrocarbon Property and the undivided interests therein as specified on any Exhibit attached hereto will, after giving full effect to all Liens allowed by the Credit Agreement, if any, afford Borrower not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Property specified as Net Revenue Interest on any Exhibit attached hereto and will cause Borrower to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as Working Interest on any Exhibit attached hereto, of the costs of drilling, developing and operating the units identified on any Exhibit attached hereto, except to the extent of any proportionate corresponding increase in the Net Revenue Interest.
Revenue and Cost Bearing Interest. Mortgagor's ownership of the Hydrocarbon Property and the undivided interests therein as specified on attached EXHIBIT A will, after giving full effect to all Permitted Encumbrances, afford Mortgagor not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Property specified as working interest on attached EXHIBIT A and will cause Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as net revenue interest on attached EXHIBIT A, of the costs of drilling, developing and operating the xxxxx identified on EXHIBIT A.
Revenue and Cost Bearing Interest. 8 Section 3.06 RENTALS PAID; LEASES IN EFFECT. . . . . . . . . . . . .8 Section 3.07 OPERATION BY THIRD PARTIES. . . . . . . . . . . . . . .8 Section 3.08 ABANDON, SALES. . . . . . . . . . . . . . . . . . . . .9 Section 3.09 FAILURE TO PERFORM. . . . . . . . . . . . . . . . . . .9 Section 3.10 OPERATION OF MORTGAGED PROPERTY, ETC. . . . . . . . . .9 Section 3.11 WASTE; ALTERATION . . . . . . . . . . . . . . . . . . 10
Revenue and Cost Bearing Interest. Mortgagor's ownership of the Hydrocarbon Property and the undivided interests therein as specified on attached Exhibit A will, after giving full effect to all Permitted Encumbrances, afford Mortgagor not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Property specified on attached Exhibit A and will cause Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified on attached Exhibit A, of the costs of drilling, developing and operating the wellx xxxntified on Exhibit A.
Revenue and Cost Bearing Interest. That Mortgagor’s ownership of the Subject Interests and the undivided interests therein as specified on attached Exhibit A-1 will, after giving full effect to all Permitted Liens, afford Mortgagor not less than those net revenue interests in the production from or allocated to such Subject Interest as is specified on attached Exhibit A-1 and will cause Mortgagor to bear not more than that portion of the costs of drilling, developing and operating the wxxxx or units identified on Exhibit A-1, unless there is a proportionate increase in Mortgagor’s net revenue interest in such property.
Revenue and Cost Bearing Interest. The Mortgagor’s ownership of the Oil and Gas Leases and the undivided interests therein as specified on the most recently delivered Reserve Report will, after giving full effect to all Permitted Encumbrances, afford the Mortgagor not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or that is allocated to such Oil and Gas Lease specified as Net Revenue Interest (as specified on the most recently delivered Reserve Report) and will cause the Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as Working Interest on the most recently delivered Reserve Report, of the costs of drilling, developing and operating the wxxxx identified on most recently delivered Reserve Report except to the extent of any proportionate corresponding increase in the Net Revenue Interest.
Revenue and Cost Bearing Interest. Mortgagor's ownership of the Hydrocarbon Property and the undivided interests therein as specified on the Senior Mortgages Exhibit A and the Additional Exhibit A does, after giving full effect to all Permitted Encumbrances, afford Mortgagor not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Property specified as net revenue interest (NRI) on the Senior Mortgages Exhibit A and the Additional Exhibit A and causes Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as net revenue interest (NRI) on the Senior Mortgages Exhibit A and the Additional Exhibit A, of the costs of drilling, developing and operating the wellx xxxntified on the Senior Mortgages Exhibit A and the Additional Exhibit A.
Revenue and Cost Bearing Interest. Each Note Party’s ownership of the Hydrocarbon Property on leases of 100 acres or more and the undivided interests therein as specified in Schedule 4.34 will, after giving full effect to all Permitted Liens, afford such Note Party not less than those net interests (expressed as a fraction, percentage or decimal) in the production from or which is allocated to such Hydrocarbon Property specified as Net Revenue Interest (as defined in the Mortgages) on attached Schedule 4.34 and will cause Mortgagor to bear not more than that portion (expressed as a fraction, percentage or decimal), specified as Working Interest (as defined in the Mortgages) on attached Schedule 4.34, of the costs of drilling, developing and operating the xxxxx identified in Schedule 4.34 except to the extent of any proportionate corresponding increase in the Net Revenue Interest.
