PVOG Production Payment definition

PVOG Production Payment means the dollar denominated production payment purchased by PVOG from the Company in the original amount of $2,233,435.76, repayable solely from 75% of the Company’s share of production revenues from only four (4) certain w▇▇▇▇ (B▇▇▇▇▇ #2, B▇▇▇▇▇ #3, R▇▇▇▇▇▇▇▇▇ #3 and S▇▇▇▇ #1), without interest.
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Examples of PVOG Production Payment in a sentence

  • The only documents evidencing the PVOG Production Payment are the Participation Agreement (including all amendments).

  • The Borrower and each Subsidiary is not in default under any indenture, mortgage, deed of trust, agreement or other instrument to which such Company is a party or by which it or any of its property is bound, including without limitation the contracts pertaining to the PVOG Production Payment, the Qualified Redeemable Preferred Equity, the Convertible Debt or the 2009 Convertible Debt.

  • The Borrower defaults (x) under the PVOG Production Payment or (y) in the payment of any amounts due to any Person (other than the Lender) or in the observance or performance of any of the covenants or agreements contained in any credit agreements, notes, leases, collateral or other documents relating to any Debt of the Borrower to any Person (other than the Lender) in excess of $50,000.00, and any grace period applicable to such default has elapsed.

  • The Borrower and each Subsidiary is not in default under any indenture, mortgage, deed of trust, agreement or other instrument to which such Company is a party or by which it or any of its property is bound, including without limitation the contracts pertaining to the PVOG Production Payment, the Qualified Redeemable Preferred Equity, the 2013 Convertible Debt, or the 2015 Convertible Debt, or the Senior Unsecured Notes.