Common use of Sale of Oil and Gas Properties Clause in Contracts

Sale of Oil and Gas Properties. Except for Hydrocarbons sold in the ordinary course of business as and when produced or after the production thereof, the Company will not sell, assign, transfer or convey, or permit any of its Restricted Subsidiaries to sell, assign, transfer or convey, any interest in any of the Oil and Gas Properties that constitute part of the Borrowing Base. This provision shall not apply to:

Appears in 3 contracts

Samples: Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc)

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Sale of Oil and Gas Properties. Except for Hydrocarbons sold in the ordinary course of business as and when produced or after the production thereof, the Company will not sell, assign, transfer or convey, or permit any of its Restricted Subsidiaries to sell, assign, transfer or convey, any interest in any of the Oil and Gas Properties that constitute part of the Borrowing Base. This provision shall not apply to:

Appears in 1 contract

Samples: Global Credit Agreement (United Meridian Corp)

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