Sale of Oil and Gas Properties. The Borrower will not, and will not permit any Subsidiary to, sell, assign, farm-out, convey or otherwise transfer any Hydrocarbon Interests except for (i) the sale of Hydrocarbons in the ordinary course of business; and (ii) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use.
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Samples: Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co), Credit Agreement (Shell Capital Inc)
Sale of Oil and Gas Properties. The Borrower will not, and will not permit any Restricted Subsidiary to, sell, assign, farm-out, convey or otherwise transfer any Hydrocarbon Interests Oil and Gas Property subject to a Lien in favor of the Agent or any interest in any Oil and Gas Property subject to a Lien in favor of the Agent except for (i) the sale of Hydrocarbons in the ordinary course of business; , and (ii) the sale or transfer of equipment that is no longer necessary for the business of the Borrower or such Subsidiary or is contemporaneously replaced by equipment of at least comparable value and use.
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