Forecasted Production definition

Forecasted Production means the projected production of oil or gas or natural gas liquids (measured by volume unit or BTU equivalent, not sales price) for the term of the contracts or a particular month, as applicable, from Oil and Gas Properties owned by a Credit Party which are located in or offshore of the United States, as reasonably approved by the Administrative Agent.

Forecasted Production means the projected production contained in management forecasts of the Borrower of crude oil, natural gas and natural gas liquids (measured by volume unit or BTU equivalent, not sales price) for the term of the contracts or a particular month, as applicable, from Oil and Gas Properties owned by a Loan Party which are located in or offshore of the United States, as reasonably approved by the Administrative Agent.

Forecasted Production means the anticipated production volumes attributable to Proven Reserves of the Borrower and its Subsidiaries which are categorized as “proved, developed and producing” as reflected in the most recent Engineering Report delivered to the Administrative Agent pursuant to Section 5.06(c) (or, if elected by the Borrower, on a quarterly basis; provided that at least one such Engineering Report each fiscal year shall be an Independent Engineering Report), after giving effect to any pro forma adjustments for the consummation of any acquisitions or dispositions since the effective date of such Engineering Report.

Examples of Forecasted Production in a sentence

• A storage fee may be assessed for such retained Client-Supplied Components or equipment beginning [**] days after cessation or interruption of the Production in the event that Client does not have any open, unfulfilled Purchase Orders or binding Forecasted Production.

• The adjustment formula usually looks as follows: A = B X (C/D) Where:A = the Adjusted Rental for the relevant Month; B = the Rental for the relevant Month;C or “Actual Production” = the actual production of the System for the relevant Month as per the inverter(s) reading(s) of the System; D or “Forecasted Production” = the forecasted production of the System for the relevant Month as per the Forecasted Production Table set out in an Annexure in the agreement.

• If Xxxxxx is storing Client-Supplied Components and Client does not have any open, unfulfilled Purchase Orders or binding Forecasted Production, Xxxxxx may destroy such items at Client’s expense, upon [**] days’ notice of intent to destroy and opportunity to take delivery prior to the scheduled shipment for destruction (it being understood that Xxxxxx shall not so destroy any Client-Supplied Components in the event that Client submits a Purchase Order.

• At least 30 days prior to the end of the Stub Year, and at least 30 days prior to the end of each subsequent calendar year during the Term, the Parties shall, in good faith, discuss the Forecasted Production Capacity for the following calendar year.

• Seller shall be entitled determine, in its sole discretion, up to 30% of the total Products (measured by weight) contemplated in the Stub Year Forecasted Production Capacity or the Forecasted Production Capacity, as applicable, to be produced during the course of each applicable period.

More Definitions of Forecasted Production

Forecasted Production means: (a) if the System physically provided Solar Services during each calendar day of the applicable period of the previous year, the cumulative amount of such Solar Services; or (b) if the System did not physically provide Solar Services during each calendar day of the applicable period of the previous year, the amount of kWhs that the System would have produced during such period, as reasonably calculated by Provider based on the historical capacity of the system and insolation of the Premises, as adjusted for seasonal factors.

Forecasted Production means the anticipated production volumes attributable to Proven Reserves of the Borrower and its Subsidiaries as reflected in the most recent Engineering Report delivered to the Administrative Agent pursuant to Section 5.06(c) (or the most recent quarterly Engineering Report delivered to the Administrative Agent in the event that the Borrower elects to deliver Engineering Reports on a quarterly basis; provided that at least one such Engineering Report each fiscal year shall be an Independent Engineering Report), after giving effect to any pro forma adjustments for the consummation of any acquisitions or dispositions since the effective date of such Engineering Report and, at the election of the Borrower, any net reserve revisions to the extent that (i) the anticipated production volumes attributable to Proven Reserves have increased or decreased by an aggregate amount of 5% or more as a result of such net reserve revisions (the “Pro Forma Reserve Revisions”), and (ii) the Borrower has delivered to the Administrative Agent an updated Internal Engineering Report or other supporting information satisfactory to the Administrative Agent which reasonably demonstrates the basis for such Pro Forma Reserve Revisions.

Forecasted Production means, for any month of determination, the projected production for such month in respect of (i) crude oil and (ii) natural gas and natural gas liquids (for purposes of this clause (ii) only, taken together), in each case as set forth in the Forecasted Production Report most recently delivered pursuant to Section 9.12(d).”

Forecasted Production means, for any month, the forecasted production of crude oil, natural gas or natural gas liquids, calculated separately, anticipated to be produced during such month as set forth in the most recently delivered report pursuant to Section 5.06(d)(iv) of the Credit Agreement. “Applicable Hedge Percentage” means, with respect to any Hedge Contract, the applicable percentage set forth below for the particular types of Hydrocarbons described below, which percentage is a function of the number of months that have elapsed since the date such Hedge Contract was entered into:

Forecasted Production means the projected production of oil or gas or natural gas liquids (measured by volume unit or BTU equivalent, not sales

Forecasted Production has the meaning specified in Section 5.17 [Hedging Obligations].

Forecasted Production means the forecasted production of oil or gas (measured by the applicable volume unit or BTU equivalent, not sales price) projected in the most recent Reserve Report delivered pursuant to this Agreement, after deducting projected production from any Oil and Gas Properties or Hydrocarbon Interests sold or under contract for sale that had been included in such Reserve Report and after adding projected production from any Oil and Gas Properties or Hydrocarbon Interests that had not been reflected in such Reserve Report but that are reflected in a separate or supplemental report meeting the requirements of Section 5.12(c) and otherwise are reasonably satisfactory to Administrative Agent.