Common use of Use of Loans and Letters of Credit Clause in Contracts

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for working capital, for exploration and production operations, and for other general company purposes of the Loan Parties, including the acquisition of Oil and Gas Properties, (b) to pay fees, costs and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date Refinancing. The Loan Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to (a) refinance the Existing Credit Agreement and (b) provide working capital for working capitallease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for acquisitions of Oil and Gas Properties permitted hereunder and for other general company corporate purposes of the Loan Parties, including the acquisition of Oil Borrower and Gas Properties, (b) to pay fees, costs and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date Refinancingits Subsidiaries. The Loan Parties are not No Group Member is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to (a) for provide working capital, capital for exploration and production operations, and for other general company purposes of the Loan Parties, including the acquisition of Oil and Gas Properties, (b) to pay fees, costs and expenses associated provide funding in connection with the Transactions and Acquisition, (c) on to refinance Debt under the Effective Date to fund Existing Credit Agreement, and (d) for general corporate purposes of the Effective Date RefinancingBorrower and the Subsidiaries. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for all or any portion of the cash consideration for the Acquisition, for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx) and for other general company purposes of the Loan Partiesbusiness purposes, including the acquisition of Oil and Gas Properties, (b) to pay fees, costs transaction fees and expenses associated in connection with the Transactions and (c) on the Effective Date to fund the Effective Date RefinancingAcquisition. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for working capitallease acquisitions, for exploration and production operations, operations and for other general company purposes of the Loan Parties, development drilling (including the acquisition drilling and completion of Oil and Gas Propertiesproducing xxxxx), (b) to pay fees, commissions, expenses and transaction costs related to the foregoing and expenses associated with the Transactions and (c) other transactions to occur on the Effective Date to fund Date, and for general corporate purposes of the Effective Date RefinancingBorrower and its Subsidiaries. The Loan Parties are not No Credit Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to refinance in full all obligations outstanding under the Existing Credit Agreement, (b) for working capital, capital for exploration and production operations, operations and for other general company corporate purposes of the Loan Parties, including the acquisition of Oil and Gas Properties, Properties and (bc) to pay fees, costs fees and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date RefinancingTransactions. The Loan Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Federal Reserve Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Federal Reserve Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for to renew and restate the Existing Indebtedness, (b) to provide working capital, capital for exploration and production operationsproduction, and (c) for other general company corporate purposes of the Loan PartiesBorrower and its Subsidiaries, including the acquisition of Oil exploration and Gas Properties, (b) to pay fees, costs and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date Refinancingproduction properties. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for working capitalexploration, for exploration development and production operations, and for other general company purposes of the Loan Parties, including the acquisition of Oil and Gas Properties, (b) to pay feesfinance the acquisition of Oil & Gas Properties, costs and expenses associated with the Transactions and (c) on to renew, rearrange, modify and extend the Effective Date to fund Debt under the Effective Date RefinancingExisting Credit Agreement, and (d) for general corporate purposes. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Additional Loans and the Letters of Credit shall be used solely (a) for working capital, for exploration and production operations, and for other general company purposes to provide cash collateral to support the Borrower’s currently outstanding letters of the Loan Parties, including the acquisition of Oil and Gas Propertiescredit, (b) to pay for general corporate purposes of the Borrower and its Subsidiaries (including payment of trade payables) and (c) for fees, costs and expenses associated in connection with the Transactions and (c) on the Effective Date to fund the Effective Date RefinancingTransactions. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for to repay existing Debt, (b) to provide working capital, capital for exploration and production operationsproduction, midstream trading and marketing operations and (c) for other general company corporate purposes of the Loan PartiesBorrower and its Subsidiaries, including the acquisition of Oil exploration and Gas Properties, (b) to pay fees, costs production and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date Refinancingmidstream properties. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to (a) for provide working capital, capital for exploration and production operations, (b) to refinance Debt under the Existing Credit Agreement, and (c) for other general company purposes of the Loan Partiescorporate purposes, including including, without limitation, the acquisition of Oil and Gas Properties, (b) to pay fees, costs and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date RefinancingProperties otherwise permitted hereby. The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to provide working capital (a) for working capital, for exploration to refinance the Existing Credit Agreement and production operations, pay fees and for other general company purposes of the Loan Parties, including the acquisition of Oil and Gas Propertiesexpenses incurred therewith, (b) to pay feesfor Capital Expenditures and Permitted Acquisitions, costs and expenses associated with the Transactions and (c) on the Effective Date to fund the Effective Date Refinancingfor general corporate purposes, including distributions permitted under Section 9.04(d). The Loan Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.