Required Reserve Value definition
Required Reserve Value means Proved Mineral Interests that have a Recognized Value of not less than eighty percent (80%) of the Recognized Value of all Proved Mineral Interests held by Borrower and its Subsidiaries.
Required Reserve Value means Proved Oil and Gas Properties that have a Recognized Value of not less than 85% of the Recognized Value of all Proved Oil and Gas Properties evaluated in the most recent Reserve Report.
Required Reserve Value means 85% of the Recognized Value of all Proved Oil and Gas Properties evaluated in the most recently-delivered Reserve Report.
Examples of Required Reserve Value in a sentence
The term “Borrowing Base Deficiency” means, as of any date, the amount, if any, by which the Outstanding Revolving Credit on such date exceeds the Required Reserve Value in effect on such date.
The term “Availability” means, at any time (a) the amount of the Commitment in effect at such time, minus (b) the Outstanding Revolving Credit at such time; not to exceed, however, the amount by which the Required Reserve Value at such time exceeds the Outstanding Revolving Credit.
More Definitions of Required Reserve Value
Required Reserve Value means, with respect to any Aggregate Commitment, that portion of the Borrowing Base Properties that Administrative Agent has determined, in its sole discretion, is necessary to support such Aggregate Commitment.
Required Reserve Value means both (a) Proved Mineral Interests that have a Recognized Value of not less than 85% of the Recognized Value of all Proved Mineral Interests held by Borrower and its Restricted Subsidiaries and (b) Proved Mineral Interests (without giving effect to clause (b) of the definition of Proved Undeveloped Mineral Interests) that have a Recognized Value of not less than 85% of the Recognized Value of all Proved Mineral Interests (without giving effect to clause (b) of the definition of Proved Undeveloped Mineral Interests) held by Borrower and its Subsidiaries.
Required Reserve Value means Proved Reserves that have PW Value of not less than eighty percent (80%) of the PW Value of all Proved Reserves owned by the Obligated Parties and evaluated in the most recently delivered Reserve Report for purposes of establishing the Borrowing Base.
Required Reserve Value means eighty percent (80%) of the Recognized Value of all Proved Mineral Interests held by the Loan Parties.
Required Reserve Value means Borrowing Base Properties that have a Recognized Value of not less than ninety percent (90%) of the Recognized Value of all Borrowing Base Properties.
Required Reserve Value means Proven Reserves that have a Recognized Value of not less than eighty percent (80%) of the Recognized Value of all Proven Reserves held by Borrower and its Subsidiaries.
Required Reserve Value means (a) for the purposes of Section 5.1(a) of the Credit Agreement, Proved Mineral Interests that have a Recognized Value of not less than ninety-five percent (95%) of the Recognized Value of all Proved Mineral Interests held by Borrower and its Subsidiaries and included in the Borrowing Base or Conforming Borrowing Base, and (b) for the purposes of Section 5.1(c) of the Credit Agreement, Proved Mineral Interests that have a Recognized Value of not less than ninety percent (90%) of the Recognized Value of all Proved Mineral Interests held by Borrower and its Subsidiaries and included in the Borrowing Base or Conforming Borrowing Base.