Common use of Timing of Reports Clause in Contracts

Timing of Reports. Borrower shall, at its sole expense, Cause an engineering reserve report relating to the Properties (the “Reserve Report”) to be prepared and delivered to Administrative Agent semi-annually beginning on the First Reserve Report Date. Each Reserve Report will evaluate the projected recoverable reserves attributable to Borrower’s Working Interests and Net Revenue Interests in the Properties. The effective dates of the Reserve Reports will be June 30 and December 31 of each year, and Borrower shall deliver each Reserve Report to Administrative Agent as set forth in Section 1.2(b). All Reserve Reports shall be prepared by the Engineers.

Timing of Reports. Borrower shall, at its sole expense, Cause an internal engineering reserve report relating to the Properties (the “Reserve Report”) to be prepared and delivered to Administrative Agent semi-annually beginning on the First Reserve Report Date. Each Reserve Report will evaluate the projected recoverable reserves attributable to Borrower’s Working Interests and Net Revenue Interests in the Properties. The effective dates of the Reserve Reports will be June 30 and December 31 of each year, and Borrower shall deliver each Reserve Report to Administrative Agent as set forth in Section 1.2(b). All Reserve Reports shall be prepared by the Engineersform and manner herein required.