Committed Reserves definition

Committed Reserves means Seller's Interest, up to the Maximum Daily Quantity, in all Gas in and under the Reserve Commitment Area and the Subject Leases, except as expressly provided on Exhibit A.
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Committed Reserves means Proved Reserves attributable to Hydrocarbon Interests for which the production of Hydrocarbons, natural gas liquids and carbon dioxide is contractually committed to be gathered, treated, processed, stored or transported by, on, or at Midstream Assets owned by the Borrower and its Restricted Subsidiaries pursuant to Services Contracts.
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Committed Reserves has the meaning provided in the NAESB Purchase Agreement.
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Examples of Committed Reserves in a sentence

  • Seller agrees to indemnify, defend and hold harmless Buyer against all Claims arising from or out of any adverse legal claims of any and all persons to or against the Committed Reserves, the Subject Leases, and Gas delivered hereunder or the proceeds from the sale thereof.

  • Upon request Seller shall make available to Buyer information regarding the Committed Reserves ("Reserves Information") to enable Buyer to evaluate same and the deliverability thereof, including well logs and pressure and flow tests.

  • Waiver This Agreement shall be governed by, and construed, enforced and performed in accordance with, the laws of the state in which the Committed Reserves are located and as herein provided in respect of the arbitration of disputes, without regard to principles of conflicts of law.

  • Subject only to Seller's Reservations, Seller exclusively commits to the performance hereof the Committed Reserves, represents that except as expressly set forth on Exhibit A the Committed Reserves are not otherwise subject to any purchase and sale agreement, and agrees not to sell, transfer or deliver to any third party any Gas produced from the Committed Reserves.

  • Seller hereby warrants and defends title to Seller's Interest in and to the Committed Reserves, the Subject Leases, and Gas delivered by Seller to Buyer, including the right to sell the same, that except as expressly provided herein, no party other than Buyer has any first right of refusal or preferential purchase right pertaining to same, and that the same are free from all production burdens, Gas balancing or deferred production accounts, liens and adverse claims, actions or proceedings.

  • Should any interest owner in the Committed Reserves, including royalty, request separate payment of proceeds by Buyer, a Monthly fee equal to $35.00 per interest owner shall be deducted from such separate payment.

  • Subject only to Seller's Reservations, Seller exclusively commits to the performance of this Agreement the Committed Reserves, represents that the Committed Reserves are not otherwise subject to any purchase and sale agreement, and agrees not to sell, transfer or deliver to any third party any Gas produced from the Committed Reserves, other than Released Gas pursuant to Section 3.3.

  • Seller hereby warrants and defends title to Seller's Interest in and to the Committed Reserves, the Subject Leases, and Gas delivered by Seller to Buyer, including the right to sell the same, that no party other than Buyer has any first right of refusal or preferential purchase right pertaining to same, and that the same are free from all production burdens, gas balancing or deferred production accounts, liens and adverse claims, actions or proceedings.

  • Waiver This Agreement shall be governed by, and construed, enforced and performed in accordance with, the laws of the state in which the Committed Reserves are located and as herein provided with respect to the arbitration of disputes, without regard to principles of conflicts of law.

  • Seller shall conduct all tests and satisfy all safety and other requirements applicable to Seller, the Committed Reserves, and related xxxxx and equipment, required by any agency or governmental authority having jurisdiction over Gas flowing hereunder and provide Buyer such evidence of compliance as may be required by applicable law, rule, regulation or order.


More Definitions of Committed Reserves

Committed Reserves means all of Seller’s Interests in and to all natural gas reserves in and under or that otherwise may be attributable to any of the lands or geographic area covered by, or included within the four corners of, the map depicted on Exhibit A, excepting and excluding therefrom the Gausdale/KayJay, Fount, Pineville, and Xxxxxxx Production Areas. “Contract Quantity” means the sum of Seller’s Daily Deliverability of Gas and the Existing Contracts Volume, not to exceed an aggregate of 30,000 Mcf’s per Day. “Delivery Points” means the points on the Gathering System described in Exhibit B where Buyer purchases Seller’s Gas hereunder. “Existing Contracts” means the Gas Gathering Agreement, dated March 14, 2006, between NGAS Gathering, LLC and Chesapeake Appalachia, L.L.C. and the Gas Gathering Agreement, dated October 5, 2004, between Duke Energy Gas Services Corporation and Forexco, Inc. “Existing Contracts Volume” means the volume of Gas to be gathered by Seller under the Existing Contracts on any Day, together with volumes of Gas to be sold by Seller to Stand Energy under the Stand Contract to the extent permitted herein below. “Forward Sale Agreement” is defined in Section 15.13 hereof. “Gathering Agreement” means the Gas Gathering Agreement, dated of even date herewith, between Buyer and Seminole Stone Mountain, LLC and NGAS Gathering II, LLC. “Gathering Fees” is defined in the Gathering Agreement. “Gathering System” is defined in the Joint Ownership Agreement. “Joint Ownership Agreement” is defined in the Asset Purchase Agreement, as such joint Ownership Agreement may be amended from time to time. “Processing Agreement” means the Gas Processing Agreement, dated September 14, 2007, among Seller, as producer, and Seller and Seminole Gas Company, as plant owners. “Receipt Points” means the points on the Gathering System described in Exhibit B where Seller’s Gas is received by Buyer into the Gathering System. “Rogersville Plant” means the Rogersville Gas Processing Plant in Christian County, Tennessee. “Seller’s Daily Deliverability of Gas” means the volume of Gas which is physically capable of being produced by Seller on any Day in accordance with applicable laws and good industry practices from the Committed Reserves. “Seller’s Interests” means the oil, gas, and mineral interests owned or controlled by Seller or its Affiliates in and to any of the lands or geographic area covered by, or included within the four corners of, the map depicted on Exhibit A, excepting...
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Committed Reserves means Shipper’s Interest and any other area that the Parties may in the future mutually agree to add to this Agreement.
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Committed Reserves means Seller's Interest in all Gas reserves attributable to the Subject Leases.
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Committed Reserves means Producer’s Interest in all Gas reserves and production (as they currently exist or at anytime in the future exist, including under any farmout arrangement) in, under or attributable to the Subject Leases and the area shown on Exhibit
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Committed Reserves means all of Seller’s Interests in and to all natural gas reserves in and under or that otherwise may be attributable to any of the lands or geographic area covered by, or included within the four corners of, the map depicted on Exhibit A, excepting and excluding therefrom the Gausdale/KayJay, Fount, Pineville, and Xxxxxxx Production Areas.
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Related to Committed Reserves

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Percentage and (ii) the Minimum Percentage, each as in effect at such time, multiplied by the Net Pool Balance on such date.

  • Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Proved Developed Reserves means oil and gas reserves that, in accordance with Petroleum Industry Standards, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves” or (b) “Developed Non-Producing Reserves.”

  • PDP Reserves means Proven Reserves which are categorized as both "Developed" and "Producing" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • C/D Reserve Percentage for any day as applied to any ABR Loan, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board, for determining the maximum reserve requirement for a Depositary Institution (as defined in Regulation D of the Board) in respect of new non-personal time deposits in Dollars having a maturity of 30 days or more.

  • Proved Reserves means “Proved Reserves” as defined in the Definitions for Oil and Gas Reserves (in this paragraph, the “Definitions”) promulgated by the Society of Petroleum Engineers (or any generally recognized successor) as in effect at the time in question. “Proved Developed Producing Reserves” means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

  • Activated reserve components means members of the reserve component of the uniformed services who have received a notice of intent to deploy or mobilize under Title 10 of the United States Code, Title 32 of the United States Code, or state mobilization to active duty.

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Yield Reserve Percentage means at any time of determination:

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Committed Capital means $20,837,637.00 for 14,129,250 Class A Capital Units to be issued with respect to Members receiving Class A Capital Units in the Reorganization, and, with respect to any additional Members, the purchase price of the Capital Units subscribed for in any subsequent offering pursuant to a subscription agreement that has been accepted by the Company, regardless of whether such purchase price has been fully paid.

  • Availability Reserves means, without duplication of any other Reserves or items to the extent such items are otherwise addressed or excluded through eligibility criteria, such reserves as Agent from time to time determines in its Permitted Discretion as being appropriate (a) to reflect the impediments to Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that Agent determines in its Permitted Discretion will need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Credit Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in Agent’s Permitted Discretion, (but are not limited to) reserves based on: (i) Rent Reserves; (ii) customs duties, and other costs to release Inventory which is being imported into the United States of America; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) Customer Deposits, (vii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Liens which may have priority over the interests of Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves, and (xi) royalties payable in respect of licensed merchandise.

  • Proved Developed Producing Reserves means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions, “Proved Developed Nonproducing Reserves” means Proved Reserves which are categorized as both “Developed” and “Nonproducing” in the Definitions, and “Proved Undeveloped Reserves” means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Proven Reserves means, at any particular time, the estimated quantities of Hydrocarbons which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs attributable to Oil and Gas Properties included or to be included in the Borrowing Base under then existing economic and operating conditions (i.e., prices and costs as of the date the estimate is made).

  • free reserves means such reserves which, as per the latest audited balance sheet of a company, are available for distribution as dividend:

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Loss Reserve Percentage means, on any date, the product of (A) 2.25 times (B) the highest average of the Default Ratios for any three consecutive calendar months during the twelve most recent calendar months times (C) the Loss Horizon Ratio.

  • SOFR Reserve Percentage means, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding.

  • Aggregate Reserves means, on any date of determination, the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicer Reserve.

  • Euro-Dollar Reserve Percentage has the meaning set forth in Section 2.06(c).

  • Eurodollar Reserve Percentage means, for any day during any Interest Period, the reserve percentage (expressed as a decimal, carried out to five decimal places) in effect on such day, whether or not applicable to any Lender, under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). The Eurodollar Rate for each outstanding Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in the Eurodollar Reserve Percentage.

  • Committed Sum means, for any day, the maximum amount a Lender is committed on that day to lend to the Companies (or for their account) on a revolving credit basis pursuant to this Agreement, on its terms and subject to its conditions. From the Effective Date of this Agreement through the Termination Date or such other date (if any) when all or any of them is changed by operation of the provisions of any agreement or Legal Requirement, the Committed Sums for the Lenders are as set forth on Schedule LC, as it may be amended and restated from time to time.