Take-or-Pay or Other Prepayments. The Borrower will not enter into any take-or-pay agreements with respect to the Oil and Gas Properties of the Borrower, any of its Subsidiaries, or any Guarantor which would require the Borrower, any of its Subsidiaries or any Guarantor to deliver Hydrocarbons produced on Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.
Appears in 2 contracts
Samples: Credit Agreement (Crimson Exploration Inc.), Subordinate Credit Agreement (Crimson Exploration Inc.)
Take-or-Pay or Other Prepayments. The Borrower will not enter into any take-or-pay agreements with respect to the Oil and Gas Properties of the Borrower, any of its Subsidiaries, or any Guarantor which would require the Borrower, any of its Subsidiaries or any Guarantor to deliver Hydrocarbons produced on from its Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor in an amount which would result in the failure of the representation and warranty set forth in Section 7.24 to be true and correct at all times.
Appears in 2 contracts
Samples: Credit Agreement (Crimson Exploration Inc.), Credit Agreement (Crimson Exploration Inc.)
Take-or-Pay or Other Prepayments. The Borrower will not enter into any take-or-pay agreements with respect to the Oil and Gas Properties of the Borrower, any of its Subsidiaries, or any Guarantor which would require the Borrower, any of its Subsidiaries or any Guarantor to deliver Hydrocarbons produced on from its Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor in an amount which would result in the failure of the representation and warranty set forth in Section 4.24 to be true and correct at all times.
Appears in 2 contracts
Samples: Second Lien Credit Agreement (Crimson Exploration Inc.), Second Lien Credit Agreement (Crimson Exploration Inc.)
Take-or-Pay or Other Prepayments. The Borrower will not enter into any take-or-pay agreements with respect to the Oil and Gas Properties of the Borrower, any of its Subsidiaries, or any Guarantor which would require the Borrower, any of its Subsidiaries or any Guarantor to deliver Hydrocarbons produced on from its Oil and Gas Properties at some future time without then or thereafter receiving full payment therefortherefor in an amount which would result in the failure of the representation and warranty set forth in Section 7.23 to be true and correct at all times.
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