Sale of Proved Reserves Sample Clauses

Sale of Proved Reserves. Pooling]; provided that in the case of the Disposition of Equity Interests in such a Person that owns assets other than Proved Reserves, such other assets (valued at their Fair Market Value) must be permitted to be Disposed of pursuant to another provision of this Section 8.2.7 [Dispositions] to comply herewith;
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Sale of Proved Reserves. Pooling]. Notwithstanding anything to the contrary contained in any Loan Document, at all times, one or more Loan Parties shall (A) own all of the Equity Interests of the Midstream GP Entity and (B) solely control the Midstream GP Entity.
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Sale of Proved Reserves. Pooling]; provided that in the case of the Disposition of Equity Interests in such a Person that owns assets other than Proved Reserves, such other assets (valued at their Fair Market Value) must be permitted to be Disposed of pursuant to another provision of this Section 8.2.7 [Dispositions] to comply herewith; (107) Dispositions of Hydrocarbon Interests to which no Proved Reserves are attributable and routine farm-outs of undeveloped acreage to which no Proved Reserves are attributable and assignments in connection with such farm-outs; (108) any Disposition of Excluded Properties; and
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Sale of Proved Reserves. 10 Section 6.08
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Sale of Proved Reserves. From and after the Closing until December 31, 2005, if the Company enters into a definitive written agreement for a Third Party Sales Transaction (or series of transactions) covering Subject Reserves in excess of 173 Bcf Equivalent in such transaction or series of transactions (the amount of such Subject Reserves being sold being measured as of the closing of the relevant transaction), then if the Transaction Value of such transaction (or the aggregate Transaction Value if in a series of such transactions) exceed a value of $1.43 per Mcf Equivalent of such Subject Reserves, then Buyer shall pay or cause the Company to pay to Seller, if and only when the closing of such Sales Transaction occurs (or, if in the case of a series of Third Party Sales Transactions, the last of such Third Party Sales Transactions to occur), cash in the amount equal to 50% of the Transaction Value of such Third Party Sales Transaction (or transactions, in the aggregate) that exceed a value greater than $1.43
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Related to Sale of Proved Reserves

  • Sale of Properties The Borrower will not, and will not permit any of the Guarantors to, sell, assign, farm-out, convey or otherwise transfer any Property except for: (a) the sale of Hydrocarbons in the ordinary course of business; (b) farmouts of undeveloped acreage and assignments in connection with such farmouts; (c) 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; (d) sales or other dispositions (excluding Casualty Events) of Oil and Gas Properties or any interest therein or Subsidiaries owning Oil and Gas Properties; provided that (i) 100% of the consideration received in respect of such sale or other disposition shall be cash and/or publicly traded securities, (ii) the consideration received in respect of such sale or other disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition (as reasonably determined by the board of directors of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iii) if such sale or other disposition of Oil and Gas Property or Subsidiary owning Oil and Gas Properties included in the most recently delivered Reserve Report during any period between two successive Scheduled Redetermination Dates has a fair market value (as determined by the Administrative Agent), individually or in the aggregate, in excess of $5,000,000, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition, by an amount equal to the value, if any, assigned such Property as determined by the Required Lenders assigned such Property in the most recently delivered Reserve Report and (iv) if any such sale or other disposition is of a Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and (e) sales and other dispositions of Properties not regulated by Section 9.12(a) to (d) having a fair market value not to exceed $250,000 during any 12-month period.

  • Limitations on Sale and Lease-Back Transactions Enter into any arrangement with any Person providing for the leasing to the Company or any Restricted Subsidiary of any Important Property owned or hereafter acquired by the Company or such Restricted Subsidiary (except for temporary leases for a term, including any renewal thereof, of not more than three years and except for leases between the Company and a Restricted Subsidiary or between Restricted Subsidiaries), which Important Property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such Person (herein referred to as a “Sale and Lease-back Transaction”) unless the net proceeds of such sale are at least equal to the fair value (as determined by the Board of Directors of the Company or such Restricted Subsidiary, as applicable) of such property and either (a) the Company or such Restricted Subsidiary would be entitled, pursuant to the provisions of (1) subsection 6.2(a)(i) or (2) subsection 6.2(b), to incur Debt secured by a Mortgage on the Important Property to be leased without equally and ratably securing the Loans, or (b) the Company shall, and in any such case the Company covenants that it will, within 120 days of the effective date of any such arrangement, apply an amount equal to the fair value (as so determined) of such property to the reduction of the Commitments (to be accompanied by prepayment of the Loans in accordance with subsection 2.6 to the extent that the principal amount thereof outstanding prior to such prepayment would exceed the Commitments as so reduced) or to the payment or other retirement of funded debt for money borrowed, incurred or assumed by the Company which ranks senior to or pari passu with the Loans or of funded debt for money borrowed, incurred or assumed by any Restricted Subsidiary (other than, in either case, funded debt owned by the Company or any Restricted Subsidiary). For this purpose, funded debt means any Debt which by its terms matures at or is extendable or renewable at the sole option of the obligor without requiring the consent of the obligee to a date more than twelve months after the date of the creation of such Debt.

  • Sale of Property If the Premises is sold, the Tenant is to be notified of the new Owner, and if there is a new Manager, their contact details for repairs and maintenance shall be forwarded. If the Premises is conveyed to another party, the new owner: (check one) ☐ - Has the right to terminate this Agreement by providing days’ notice to the Tenant. ☐ - Does not have the right to terminate this Agreement.

  • Limitation on Sale and Lease-Back Transactions The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Lease-Back Transaction unless:

  • Limitations on Sale of Assets Convey, sell, lease, assign, transfer or otherwise dispose of any of its property, business or assets (including, without limitation, the sale of any receivables and leasehold interests and any sale-leaseback or similar transaction), whether now owned or hereafter acquired except:

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