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.

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Required Reserve Value means Proved Oil and Gas Properties that have a Recognized Value of not less than the lesser of (a) ninety percent (90%) of the Recognized Value of all Proved Oil and Gas Properties owned by Borrower and its Subsidiaries and the Affiliated Operators and (b) one hundred fifty percent (150%) of the portion of the Borrowing Base allocable to Oil and Gas Properties in effect from time to time, as determined by Administrative Agent.

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

• Together with such Mortgages, the Borrowers shall deliver to the Administrative Agent title opinions or other title information and data acceptable to the Administrative Agent such that the Administrative Agent shall have received, together with the title information previously delivered to the Administrative Agent, acceptable title information regarding the Oil and Gas Properties of the Obligated Parties that in the aggregate represent not less than the Required Reserve Value.

• In connection with each Reserve Report delivered pursuant to Section 7.1(b)(i), the Borrowers shall review the Reserve Report and determine whether the Mortgaged Properties represent at least the Required Reserve Value after giving effect to exploration and production activities, acquisitions, dispositions and production.

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 eighty percent (80%) of the Recognized Value of all Borrowing Base Properties held by Borrower.

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, with respect to any Total Commitment, that portion of the oil and gas properties of Borrower and its Restricted Subsidiaries that Administrative Agent has determined, in its sole discretion, is necessary to support such Total Commitment, and which oil and gas properties shall, in all events, have a Recognized Value equal to not less than one hundred twenty-five percent (125%) of such Total Commitment.