Examples of Pipeline Properties in a sentence
Each Obligor will operate its Pipeline Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements.
The Obligors will not allow gas imbalances, take-or-pay or other prepayments with respect to the Pipeline Properties of the Obligors which would require the Obligors to gather in the aggregate five percent (5%) or more of the Hydrocarbons throughput on a monthly basis from the Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.
Concurrently with the granting of the Lien or other action referred to in Section 8.09(a) above, the Borrower or such Obligor will provide to the Administrative Agent title information in form and substance satisfactory to the Administrative Agent in its sole discretion with respect to such Obligor’s interests in such Pipeline Properties.
At all times hereunder that the Indebtedness remains unpaid, including whenever any Obligor acquires any additional Pipeline Properties, Obligors shall grant to the Administrative Agent for the benefit of the Lenders as security for the Indebtedness a first-priority Lien interest (subject only to Excepted Liens) covering such Properties under the Security Instruments.
Except as set forth on SCHEDULE 7.24, as of the Closing Date, there are no gas imbalances, take or pay or other prepayments with respect to any of the Obligors' Pipeline Properties which would require any such Obligor to transport or purchase any volumes of Hydrocarbons without receiving delivery thereof or for gathering and transportation through their Pipeline Properties at some future time without then or thereafter receiving full payment of Obligor's tariffs therefor.