Marcellus Assets definition

Marcellus Assets means the producing Marcellus shale gas properties owned by MidContinent and located in New York and West Virginia that constitute part of the Borrowing Base Oil and Gas Properties that were initially acquired by Eastern from PetroEdge Resource (WV) LLC and transferred to Quest Cherokee by Eastern and acquired by MidContinent by merger.
Sample 1Sample 2
Marcellus Assets has the meaning set forth in Section 6.12(a)(iii).
Sample 1Sample 2
Marcellus Assets means the Marcellus shale gas properties owned by Borrower and located in New York and West Virginia that constitute the real property collateral mortgaged by Borrower to secure repayment of amounts owing under the Credit Agreement and Note.
Sample 1Sample 2

Examples of Marcellus Assets in a sentence

  • The Administrative Agent’s lien on the Marcellus Assets and Borrower’s equity held for the benefit of the Lender shall not be released if less than $*** is paid to Lender (excluding any payment made to Lender under this Agreement), except in connection with a Non-Qualifying Sale.

  • In the event that Borrower contracts with a buyer on such terms, Borrower shall be entitled to exclude the Marcellus Pipeline from the Marcellus Assets to be sold.

  • The Company, at Lender’s option (and provided that PMP is a licensed operator at that time), shall cause PMP to enter into the Operating Agreement set forth in Exhibit C (the “New Operating Agreement”) and PMP shall operate the xxxxx owned by Borrower that are part of the Marcellus Assets until the earlier of (i) the date upon which Borrower no longer owns such xxxxx; or (ii) six (6) months from the date that Lender becomes the owner of the equity in Borrower.

  • If the Marcellus Assets are sold for a total of $*** but $*** is paid in cash on the Closing Date and $5,000,000 is placed in escrow and becomes the Escrowed Amount, the Amount of Loss (after repayment of all Intercompany Loans) calculated at the Closing Date will be $7,500,000 (the excess of $*** minus $*** (subject to $7,500,000 maximum)).

  • For example, if the Marcellus Assets are sold for $*** cash on the Closing Date, the Amount of Loss (after repayment of all Intercompany Loans) will be $5,550,000 ($*** minus $***).

  • Theb = 2 2q ⊗ 1 + 1 ⊗ q , c = q ⊗ 1 + 1 ⊗ q, while a ≠ b and c ≠ 0.B B B Btively cancellative semiring of characteristic 1.

  • On July 7, 2014, we agreed to acquire essentially all of the Marcellus assets (the "Marcellus Assets") of Citrus Energy Corporation ("Citrus") and two other working interest owners in exchange for approximately 6.7 million shares of our common stock valued at $40 million and cash consideration of $312.5 million, subject to certain post-closing adjustments and certain closing conditions (the "Citrus Acquisition").

  • Net Available Cash received by MidContinent from the Disposition of the Marcellus Assets shall be used to prepay outstanding Revolving Loans in an amount at least equal to the excess of Total Outstandings over the reduced Borrowing Base (or to Cash Collateralize Letters of Credit, if no Revolving Loans are outstanding).

  • An amount equal to Borrowing Base Value of any Collateral sold in a Material Disposition (other than a disposition of the Marcellus Assets which shall be governed by subsection (d)) shall be prepaid by the selling Borrower or any of its Subsidiaries (other than the Excluded Subsidiaries) out of the Net Available Cash received by such Borrower or such Subsidiary.

  • The Marcellus Assets had an estimated total PV-10 Value for proved reserves of $189.9 million as of June 30, 2014.


More Definitions of Marcellus Assets

Marcellus Assets in the definition of Capital Expenditure, is deleted and the defined term “Appalachia Assets” is substituted therefor.
Sample 1

Related to Marcellus Assets

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • surplus assets means any assets of the Company that remain after paying all debts and other liabilities of the Company, including the costs of winding up.

  • Acquisition Assets With respect to an Acquisition, the aggregate net assets as of the effective date of such Acquisition of all Acquired Funds.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Divestiture Assets means all of Defendants’ rights, titles, and interests in and to:

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Midstream Assets means (i) assets used primarily for gathering, transmission, storage, processing or treatment of natural gas, natural gas liquids or other hydrocarbons or carbon dioxide and (ii) equity interests of any Person that has no substantial assets other than assets referred to in clause (i).

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Partnership Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned or represented by any Partnership Interest.

  • Subject Assets is defined in Section 2.2(c).

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Gross Assets means the total of fixed assets and current assets;

  • Timberlands means all the timberlands from time to time owned by the Loan Parties.

  • Connection Assets means that portion of the distribution system used to connect a customer to the existing main distribution system, and consists of the assets between the point of connection on a distributor’s main distribution system and the ownership demarcation point with that customer;

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Excluded Assets has the meaning set forth in Section 2.02.

  • Productive Assets means assets (including assets of a referent Person owned directly or indirectly through ownership of Capital Stock) of a kind used or useful in the Cable Related Business.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Receivables and Related Assets means (a) accounts receivable, instruments, chattel paper, obligations, general intangibles, equipment and other similar assets, including interests in merchandise or goods, the sale or Lease of which gives rise to the foregoing, related contractual rights, guarantees, insurance proceeds, collections and other related assets, (b) equipment, (c) inventory and (d) proceeds of all of the foregoing.

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Securitization Assets means the accounts receivable, royalty and other similar rights to payment and any other assets related thereto subject to a Qualified Securitization Facility that are customarily sold or pledged in connection with securitization transactions and the proceeds thereof.

  • Timberland means land, other than land owned by the federal government and land designated by the board as experimental forest land, which is available for, and capable of, growing a crop of trees of a commercial species used to produce lumber and other forest products, including Christmas trees. Commercial species shall be determined by the board on a district basis.