Common use of Scheduled Redetermination Date Clause in Contracts

Scheduled Redetermination Date. The December 31 Reserve Report shall include (a) a report prepared by Rydex-Xxxxx Xxxpany, Petroleum Engineers, or other certified independent engineer satisfactory to the Agent (the "Outside Report"), which covers at least 80% of the proved oil and gas reserves attributable to the Company's Oil and Gas properties, and (b) a report prepared by or under the supervision of the Chief Engineer of the Company who shall certify such report to be true and accurate and to have been prepared in accordance with the procedures used in such Outside Report (the "Company Report"), which covers the proved oil and gas reserves attributable to the Company's Oil and Gas Properties which were not covered by such Outside Report. The June 30 Report shall include a Company Report which covers the proved oil and gas reserves attributable to all of the the Company's Oil and Gas Properties. The Company may elect to use the December 31 Reserve Report instead of preparing the June 30 Reserve Report, in which case reserve run off with no replacement will be assumed. Further, the Company will be required to provide a review of the Oil and Gas Properties which shall include a comparison of actual and projected production volumes.

Scheduled Redetermination Date. The December 31 Reserve Report shall include (a) a report prepared by RydexXxxxx-Xxxxx XxxpanyCompany, Petroleum Engineers, DeGoyler & XxXxxxxxxx or other certified independent engineer of recognized standing satisfactory to the Administrative Agent (the "Outside Report"), which covers at least 80% of the proved oil and gas reserves attributable to the Company's Oil and Gas propertiesProperties of the Borrower and the Restricted Subsidiaries, and (b) a report prepared by or under the supervision of the Chief Engineer chief engineer of the Company Borrower who shall certify such report to be true and accurate and to have been prepared in accordance with the procedures used in such Outside Report (the "Company Report"), which covers the proved oil and gas reserves attributable to the Company's Oil and Gas Properties of the Borrower and the Restricted Subsidiaries which were not covered by such Outside Report. The June 30 Report shall include be a Company Report which covers the proved oil and gas reserves attributable to all of the the Company's Oil and Gas PropertiesProperties of the Borrower and the Restricted Subsidiaries. The Company Borrower may elect to use the immediately preceding December 31 Reserve Report instead of preparing the June 30 Reserve Report, in which case reserve run off with no replacement will be assumed. Further, the Company Borrower will be required to provide a review of the Oil and Gas Properties which shall include a comparison of actual and projected production volumes.

Scheduled Redetermination Date. The December 31 Reserve Report shall include (a) a report prepared by Rydex-Xxxxx Xxxpany, Petroleum Engineers, or other certified independent engineer satisfactory to the Agent (the "Outside Report"), which covers at least 80% of the proved oil and gas reserves attributable to the Company's Oil and Gas propertiesProperties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries), and (b) a report prepared by or under the supervision of the Chief Engineer of the Company who shall certify such report to be true and accurate and to have been prepared in accordance with the procedures used in such Outside Report (the "Company Report"), which covers the proved oil and gas reserves attributable to the Company's Oil and Gas Properties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries) which were not covered by such Outside Report. The June 30 Report shall include a Company Report which covers the proved oil and gas reserves attributable to all of the the Company's Oil and Gas PropertiesProperties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries). The Company may elect to use the December 31 Reserve Report instead of preparing the June 30 Reserve Report, in which case reserve run off with no replacement will be assumed. Further, the Company will be required to provide a review of the Oil and Gas Properties which shall include a comparison of actual and projected production volumes.

Scheduled Redetermination Date. The December 31 Reserve Report shall include (a) a report prepared by RydexXxxxx-Xxxxx XxxpanyCompany, Petroleum Engineers, or other certified independent engineer satisfactory to the Agent (the "Outside Report"), which covers at least 80% of the proved oil and gas reserves attributable to the Company's Oil and Gas propertiesProperties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries), and (b) a report prepared by or under the supervision of the Chief Engineer of the Company who shall certify such report to be true and accurate and to have been prepared in accordance with the procedures used in such Outside Report (the "Company Report"), which covers the proved oil and gas reserves attributable to the Company's Oil and Gas Properties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries) which were not covered by such Outside Report. The June 30 Report shall include a Company Report which covers the proved oil and gas reserves attributable to all of the the Company's Oil and Gas PropertiesProperties of the Company and its Subsidiaries (other than the Special Purpose Subsidiaries). The Company may elect to use the December 31 Reserve Report instead of preparing the June 30 Reserve Report, in which case reserve run off with no replacement will be assumed. Further, the Company will be required to provide a review of the Oil and Gas Properties which shall include a comparison of actual and projected production volumes.