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) to refinance existing Debt of Holdco under the Existing NPA, (b) to provide working capital and for general company purposes, (c) for acquisitions of Oil and Gas Properties and (d) to pay related fees and expenses. The Borrower and its Restricted 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 by any Credit Party 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 funding in connection with the Acquisition, to refinance existing Debt debt of Holdco under the Existing NPABorrower, (b) to provide working capital and for general company purposes, corporate purposes of the Borrower or any of its Subsidiaries (c) for acquisitions of Oil and Gas Properties and (d) to pay related fees and expensesincluding in connection with Investments permitted by Section 9.05(i)). The Borrower and its Restricted 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 by any Credit Party 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 existing Debt of Holdco under the Existing NPAfund capital expenditures, (b) to provide finance working capital and capital, (c) for general company purposes, (cd) for acquisitions of Oil pay fees and Gas Properties expenses related to the Loan Documents and (de) to pay related fees and expensesdistributions permitted by Section 9.04. The Borrower Parent, the Borrower, and its the Restricted 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 by any Credit Party 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 existing Debt provide working capital for lease acquisitions, exploration, production operations and development (including the drilling and completion of Holdco under the Existing NPA, producing xxxxx) and (b) to provide working capital and for general company purposes, (c) for acquisitions corporate purposes of Oil the Borrower and Gas Properties and (d) to pay related fees and expensesthe Guarantors. The Borrower and its the Restricted 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 by any Credit Party 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 existing Debt of Holdco under the Existing NPA, (b) to provide working capital for exploration and for general company purposesproduction operations, (c) for acquisitions of Oil and Gas Properties permitted hereunder and (d) for general corporate, partnership or equivalent purpose, including to pay related fees and expensesrefinance Debt of the Existing Borrower under the Existing Credit Agreement. The Borrower and its Restricted 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 by any Credit Party 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) to refinance existing Debt of Holdco under the Existing NPAfinance acquisitions, (b) to finance exploration and production operations of the Borrower and its Subsidiaries and (c) provide for working capital for and for general company purposes, (c) for acquisitions corporate purposes of Oil the Borrower and Gas Properties and (d) to pay related fees and expensesits Subsidiaries. The Borrower and its Restricted 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 by any Credit Party 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 existing Debt finance ongoing working capital requirements, capital expenditures (including acquisitions) and other general corporate purposes of Holdco under the Existing NPABorrower, (b) to provide working capital effect the Refinancing and for general company purposes, (c) for acquisitions of Oil and Gas Properties and (d) to pay related fees fees, commissions and expensesexpenses in connection with the Transactions. The Borrower and its Restricted 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 by any Credit Party 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 existing Debt of Holdco under the Existing NPAfund capital expenditures, (b) to provide finance working capital and capital, (c) for general company purposes, (c) for acquisitions of Oil and Gas Properties and (d) to pay related fees and expensesexpenses related to the Loan Documents and (e) to make distributions permitted by Section 9.04. The Borrower Parent, the Borrower, and its the Restricted 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 by any Credit Party for any purpose which violates the provisions of Regulations T, U or X of the Board.