Wellx. Xxcept to the extent set forth on Schedule 4.1(x), to Seller's Knowledge, no well included in the Properties is subject to material penalties on allowables because of any overproduction or any other violation of Applicable Law. Except for the wellx xxxluded in the Properties and listed in Schedule 4.1(x), there are no wellx xxxluded in the Properties that Seller, the Subsidiaries or the E&P Partnership, or to Seller's Knowledge the operator of such wellx, xxe currently obligated by Applicable Law, Applicable Environmental Law or order of any Governmental Authority to plug and abandon within a time certain or that have been shut-in or temporarily abandoned.
Wellx. Xx Seller's knowledge, and except as set forth on Schedule 6.2(p), all of the wellx xx which Seller has an interest by virtue of its ownership of the Leasehold Property and which have been drilled and completed by Seller are within the boundaries of such Leasehold Property or within the limits otherwise permitted by contract, pooling or unit agreement, and by law; and, except as set forth on Schedule 6.2(p), to Seller's knowledge, no such well is subject to penalties on allowables because of any over production or any other violation of applicable Legal Requirements that would prevent such well from being entitled to its full legal and regular allowable from and after the Effective Date as prescribed by any governmental authority.
Wellx. Xroducing, non-producing, shut-in oil and abandoned oil and gas wellx, xxlt water disposal wellx, xxjection wellx, xxd water wellx xxxated on the property or property interests described in Exhibits "A-1" or "A-2" hereto and used in connection with the properties or interests described in subsections (a)-(f) above.
Wellx. Xxl of SELLER's right, title and interest in all oil, gas or condensate wellx xxx wellbore(s) (whether producing, not producing, plugged, unplugged or permanently or temporarily abandoned), water source, water injection and other injection and disposal wellx xxx systems located on a Lease (or lands pooled with a Lease) ("WELLX"); to SELLER's Knowledge, Exhibit "1b" lists all Wellx xxx the status of each as of the indicated dates, which list is provided to PURCHASER strictly as an accommodation, for informational purposes, and without any representation or warranty of completeness or accuracy or any other sort of representation or warranty; and
Wellx. 2 Fargo's Pro Rata Share of the Commitment shall be reduced to 0.00% and Wellx Xxxgo shall cease to be a Lender under and with respect to the Loan Agreement and the other Loan Documents (collectively, the "Wellx Xxxgo Conditions"). Subject to the conditions set forth below, this letter confirms that Sanwa, in its capacity as a Lender under the Loan Agreement, consents to (a) the Offering and to the issuance of the Junior Subordinated Debt and (b) the Wellx Xxxgo Conditions, provided that (i) the terms related to the Junior Subordinated Debt are not amended, modified or waived in any material manner from the terms set forth with respect thereto in the draft Subordinated Debt Documents dated as of September 17, 1997, and (ii) upon Borrower's receipt of any proceeds in connection with such Offering, Borrower, the Remaining Lenders and the Agent shall have executed and entered into an amendment to the Loan Agreement substantially in the form of the Draft Amendment, with all blanks filled in and other conforming modifications made thereto. Except as expressly provided herein, all terms and conditions of the Loan Agreement and the other Loan Documents shall continue in full force and effect, without waiver or modification, and Sanwa reserves all of its rights, privileges and remedies in connection therewith. Sanwa acknowledges and agrees that Wellx Xxxgo may continue to act as Agent until such time as it resigns (whether voluntarily or at the request of the Requisite Lenders) pursuant to the terms of Section 10.8 of the Loan Agreement. SANWA BANK CALIFORNIA
Wellx. Xhe interest of Seller in the oil and gas wellx xxxcribed in Exhibit 1.5 (said interest being described in Exhibit 1.5 by reference to Seller's leasehold or cost burden interest and Seller's net revenue interest).
Wellx. Xxch oil or gas well located on the Oil and Gas Properties is: (a) capable of producing in commercial quantities (except for up to 5 primary take-point wellx xxxch otherwise would be producing Hydrocarbons in commercial quantities that have been off production for routine maintenance, testing or repairs, temporary pipeline interruption, minor reworking operations or minor production enhancement operations and are reasonably expected to return to producing in commercial quantities within a reasonable time and Borrower will use its best efforts to return them to production in commercial quantities as soon as reasonably possible), (b) properly permitted, (c) to the best of Borrower's knowledge, in compliance with all applicable Laws, and (d) within the production tolerances allocated by the governmental entity or tribal authority having appropriate jurisdiction. All of the leaseholds in which there are located Mineral Interests of Borrower are producing Hydrocarbons in commercial quantities except for those leaseholds which are in their primary term and have had all rentals, delay rentals and other lease payments due under the leases and other agreements relating thereto paid in full. Each of Borrower's producing wellx xxxted on Schedule 5.1(b) is located on an Oil and Gas Property (i) covered by title opinions and (ii) described in the legal description contained in an Oil and Gas Property Mortgage which has been duly executed and delivered to Agent.
Wellx. (x) The historical production figures for oil, gas and water, and revenue and cost and expense figures, relating to the Interests and provided by Terra to CMS Energy are, to the knowledge of Terra, accurate and complete in all material respects.
Wellx. Xo the best of Seller's knowledge, all of the Wellx xxxe been drilled and completed within the boundaries of the Leases or within the limit otherwise permitted by contract, pooling or unit agreement and by laws; and all drilling and completion, and plugging and abandonment, of previously plugged wellx xxx the Wellx xxx all development and operations on the Properties have been conducted in compliance with all applicable laws, ordinances, rules, regulations and permits, and judgments, orders and decrees of any governmental authority. To the best
Wellx. Xach Well producing from a tight sand formation was spud and continuously drilled into the qualifying tight sand formation after November 5, 1990 and prior to January 1, 1993. In certain instances, the Wellx xxx penetrate unexploited tight sand formations uphole of current producing zones which should qualify as tight sand formations in accordance with Situation 1 of Revenue Ruling 93-54. Each well producing gas from Devonian shale was drilled after December 31, 1979 and before January 1, 1993. The hydrocarbons produced from each Well are "qualifying fuels" within the meaning of Code Section 29(c).
