Sale of Production. (1) All proceeds from the sale of Debtor’s interests in Hydrocarbons from the Collateral are currently being paid in full to Debtor by the purchaser or remitter thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near the Collateral, and none of such proceeds are currently being held in suspense by such purchaser or any other party.
Appears in 3 contracts
Samples: Mortgage, Security Agreement (Lilis Energy, Inc.), Mortgage, Security Agreement (Recovery Energy, Inc.), Mortgage, Security Agreement (Recovery Energy, Inc.)
Sale of Production. (1) . All proceeds from the sale of Debtor’s interests in Hydrocarbons from the Collateral are currently being paid in full to Debtor by the purchaser or remitter thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near the Collateral, and none of such proceeds are currently being held in suspense by such purchaser or any other party.
Appears in 3 contracts
Samples: And Fixture Filing (Recovery Energy, Inc.), Financing Statement and Fixture Filing (Recovery Energy, Inc.), And Fixture Filing (Recovery Energy, Inc.)
Sale of Production. (1) All proceeds from the sale of Debtor’s Debtors' interests in Hydrocarbons from the Collateral are currently being paid in full to Debtor Debtors by the purchaser or remitter thereof on a timely basis and at prices and terms comparable to market prices and in terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near the Collateral, and none of such proceeds are currently being held in suspense by such purchaser or any other party.
Appears in 1 contract
Samples: Foreland Corp
Sale of Production. (1) . All proceeds from the sale of Debtor’s 's interests in Hydrocarbons from the Collateral are currently being when made shall be paid in full to Debtor by the purchaser or remitter thereof on a timely basis and at prices and terms comparable to market prices and terms generally available at the time such prices and terms were negotiated for oil and gas production from producing areas situated near the Collateral, and none no more than $700,000 of such proceeds are currently being held in suspense by such purchaser or any other party.
Appears in 1 contract
