Reserve Evaluation Report definition

Reserve Evaluation Report means an unsuperceded report that (a) is (i) prepared, in the case of the report required to be delivered by the Company pursuant to Section 9.01(f) hereof in connection with the Determination Date occurring on May 1 of each year, by the Independent Petroleum Engineer on the basis of assumptions and projections which the Company believes in good faith to be reasonable or, in the case of the report required to be delivered by the Company pursuant to Section 9.01(f) hereof in connection with each other Determination Date, by the Independent Petroleum Engineer on the basis of the most recently delivered Reserve Evaluation Report delivered in connection with the Determination Date occurring on May 1 of each year as adjusted for reserve additions and production from the date of such report, each as acceptable to the Independent Petroleum Engineer and (ii) satisfactory in form and substance to the Combined Majority Lenders (including as to assumptions) and (b) is prepared on the basis of findings and material data as of a date not more than 90 days prior to the effective date of such report, (i) identifies the Hydrocarbon Properties covered thereby, (ii) as to each of the Hydrocarbon Properties, sets forth (A) the Proved Reserves attributable to such Hydrocarbon Property, (B) the total amount of such Proved Reserves attributable to such Hydrocarbon Property that, in the opinion of the preparer of such report, the Company and its Restricted Subsidiaries have the right to produce for their own account in the current and each succeeding calendar year, (C) a projection of the rate of production and the Future Net Revenues of the Company and its Restricted Subsidiaries (including as additional information the data and assumptions used to determine such Future Net Revenues) from such Proved Reserves for the current and each succeeding calendar year, (D) the quantity and type of hydrocarbons recoverable from such Proved Reserves in the current and each succeeding calendar year, (E) an estimate of the projected revenues and expenses attributable to such Proved Reserves in the current and each succeeding calendar year, and (F) any reports or evaluations prepared by the Company regarding the expediency of any change in methods of treatment or operation of all or any xxxxx drilled to produce any of such Proved Reserves that are producing or capable of producing hydrocarbons, any new drilling or development, any method of secondary recovery by repressuring or otherwise, or ...
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Reserve Evaluation Report means the Initial Reserve Evaluation Report and each subsequent unsuperseded report that is prepared on a basis reasonably consistent with the Initial Reserve Evaluation Report and is otherwise reasonably satisfactory in form and substance to the Required Lenders; provided that each such Reserve Evaluation Report, with respect to the Hydrocarbon Properties in which Thai Romo xxx an interest, shall include, among other items, a delineation of the net cash flow to Thai Romo xxxer payment of the Kingdom of Thailand special remuneratory benefit, Thai corporate taxes and other Taxes owing in or to the Kingdom of Thailand.
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Reserve Evaluation Report means the report referred to in Section 1.03(a)(i), and an unsuperseded report, in form and substance reasonably satisfactory to the Administrative Agent, setting forth, as of each January 1st (in the case of the Reserve Evaluation Report to be delivered by the Independent Petroleum Engineer pursuant to Section 1.03(a)(ii)) or July 1st (in the case of the Reserve Evaluation Report required to be delivered by the Borrower pursuant to Section 1.03(a)(iii)) (or such other date in the event of an interim redetermination pursuant to Section 1.03(d)) the oil and gas reserves attributable to the Borrower’s and its Restricted Subsidiaries’ interest in the production from Hydrocarbon Properties of the Borrower and its Restricted Subsidiaries, together with a projection of the rate of production and future net income, taxes, royalties, operating expenses, production sharing volumes and Development Costs with respect thereto as of such date, based upon the economic assumptions consistent with the Administrative Agent’s requirements at the time and using pricing data that the Banks may reasonably determine consistent with their current lending practices taking into account quality and basis and differentials related to the production being produced from the Borrower’s and its Restricted Subsidiaries’ interest in the production from Hydrocarbon Properties, provided that, with respect to the volume of Hydrocarbons subject to a Commodity Hedging Agreement, the Banks shall take into consideration the prices set forth in such Commodity Hedging Agreement.
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Examples of Reserve Evaluation Report in a sentence

  • On or before each Report Delivery Date, the Company shall furnish to the Agent and the Banks an updated Reserve Evaluation Report.

  • The effective date of the redetermined Borrowing Base and Threshold Amount (if applicable) shall be established in accordance with Section 1.04(b) hereof, provided that no Reserve Evaluation Report shall be required for a determination of the Borrowing Base following a Redetermination Event referred to in paragraph (c), (d) and (e) of the definition of such term in Section 1.01 hereof.

  • A Reserve Evaluation Report dated as of June 30, 2006 in respect of the Colombian Hydrocarbon Properties prepared by the Independent Petroleum Engineer, in form and substance satisfactory to the Administrative Agent.

  • On or before each Report Delivery Date, the Borrower shall furnish to each Lender an updated Reserve Evaluation Report as provided in Sections 9.01(h) and (i) hereof.

  • The Borrower has heretofore furnished to the Administrative Agent and the Lenders the Initial Reserve Evaluation Report.

  • Such redetermined Borrowing Base and the Threshold Amount shall become effective on the Determination Date immediately following the Report Delivery Date for such Reserve Evaluation Report (or such later date as notified by the Administration Agent to the Borrower and the Lenders) and shall remain effective until again redetermined pursuant to this Section 1.04.

  • The Company will, within 90 days of the date of this Agreement, cause the Mortgaged Properties to constitute not less than 80% of the Hydrocarbon Properties evaluated in the last Reserve Evaluation Report delivered prior to the Effective Date other than Hydrocarbon Properties located in Canada and shall cause all of the Hydrocarbon Properties located in Canada to be subject to a floating charge in favor of the Canadian Agent for the benefit of the Canadian Banks.

  • The Company has furnished to the Agent and the Banks a reserve report as of July 1, 1996, which report shall be deemed to be the initial Reserve Evaluation Report.

  • Such redetermined Threshold Amount shall become effective on the Determination Date immediately following the Report Delivery Date for such Reserve Evaluation Report (or such later date as notified by the Administration Agent to the Borrower and the Lenders) and shall remain effective until again redetermined pursuant to this Section 1.04.

  • The Initial Reserve Evaluation Report in form and substance satisfactory to the Administrative Agent.


More Definitions of Reserve Evaluation Report

Reserve Evaluation Report means an unsuperceded report that (a) is (i) prepared, in the case of the report required to be delivered by Canadian Forest, in connection with the Determination Date occurring on May 1 of each year, by the Independent Petroleum Engineer on the basis of assumptions and projections which Canadian Forest believes in good faith to be reasonable or, in the case of the report required to be delivered by Canadian Forest, in connection with the Determination Date occurring on October 15 of each year, by Canadian Forest and (ii) satisfactory in form and substance to the Majority Lenders (including as to assumptions) and (b) is prepared on the basis of findings and material data (x) as of January 1 of such year, in the case of a report prepared by the Independent Petroleum Engineer in connection with the Determination Date occurring on May 1 of each year and (y) as of July 1 of such year, in the case of a report prepared by Canadian Forest in connection with the Determination Date occurring on October 15 of each year, and (i) identifies the Hydrocarbon Properties covered thereby and (ii) as to each of the Hydrocarbon Properties, sets forth (A) the Proved Reserves attributable to such Hydrocarbon Property (in the case of the report prepared by the Independent Petroleum Engineer) describing the producing and nonproducing Proved Reserves separately for purposes of the following items (B) through (F), (B) the total amount of such Proved Reserves attributable to such Hydrocarbon Property that, in the opinion of the preparer of such report, Canadian Forest and the Subsidiary Borrowers (and Forest, in the case of the Forest Pledged Properties) have the right to produce for their own account in the current and each succeeding calendar year, (C) a projection of the rate of production and the Future Net Revenues of Canadian Forest, the Subsidiary Borrowers and Forest, as applicable (including as additional information the data and assumptions used to determine such Future Net Revenues), from such Proved Reserves for the current and each succeeding calendar year, (D) the quantity and type of hydrocarbons recoverable from such Proved Reserves in the current and each succeeding calendar year, (E) an estimate of the projected revenues and expenses attributable to such Proved Reserves in the current and each succeeding calendar year, and (F) any reports or evaluations prepared by Canadian Forest regarding the expediency of any change in methods of treatment or operation of all o...
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Reserve Evaluation Report shall have the meaning assigned to such term in the Existing Credit Agreement on the date hereof.
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Related to Reserve Evaluation Report

  • Evaluation Report means a report on the evaluation of tenders prepared under CSO 12

  • Valuation Report means the valuation report or reports for mortgage purposes, in the form of the pro-forma contained in the Standard Documentation, obtained by the Seller from a Valuer in respect of each Mortgaged Property or a valuation report in respect of a valuation made using a methodology which would be acceptable to a reasonable prudent mortgage lender;

  • Verification Report As defined in Section 4.19.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • GLJ Report means the independent engineering reserves evaluation of certain oil, NGL and natural gas interests of the Company prepared by GLJ dated February 11, 2022 and effective December 31, 2021.

  • Reconciliation Report refers to the Reconciliation Report as referenced in s. 3 of Reg 264/07 under LHSIA.

  • Collection Report means the monthly report prepared by the Primary Servicer setting forth, with respect to each Mortgage Loan and the most recently ended Collection Period prior to the due date of such report, the information described on Exhibit G attached hereto.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Inspection Report means the report delivered by the Master Servicer or the Special Servicer, as the case may be, substantially in the form of Exhibit L hereto.

  • Site evaluation means a comprehensive analysis of soil and site conditions for an OWTS.

  • CMSA Historical Liquidation Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Historical Liquidation Report" available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.

  • Technical Report means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report that includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report; and

  • Geotechnical report means a scientific study or evaluation conducted by a qualified expert that includes a description of the ground and surface hydrology and geology, the affected land form and its susceptibility to mass wasting, erosion, and other geologic hazards or processes, conclusions and recommendations regarding the effect of the proposed development on geologic conditions, the adequacy of the site to be developed, the impacts of the proposed development, alternative approaches to the proposed development, and measures to mitigate potential site-specific and cumulative geological and hydrological impacts of the proposed development, including the potential adverse impacts to adjacent and down-current properties. Geotechnical reports shall conform to accepted technical standards and must be prepared by qualified professional engineers or geologists who have professional expertise about the regional and local shoreline geology and processes.

  • Distribution Report The meaning specified in Section 10.7(b).

  • Transaction Report is that certain report of transactions and schedule of collections in the form attached hereto as Exhibit C.

  • Monthly Report means a report, in substantially the form of Exhibit X hereto (appropriately completed), furnished by the Servicer to the Agent pursuant to Section 8.5.

  • Condition Report means a condition report with respect to a Group III Vehicle, signed and dated by a Lessee or a Franchisee and any Manufacturer or its agent in accordance with the applicable Vehicle Disposition Program.

  • CREFC® Loan Modification Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Modification Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Cost Report We relied on the separate reporting of non-sub-capitated and sub-capitated experience by the MCPs in the medical cube worksheets of the CY 2018 cost reports. In the MCP cost reports, sub-capitated expenditures represent the amounts paid by MCPs for sub-capitated services, rather than “shadow priced” claims as illustrated in the CY 2018 encounter data.

  • CREFC® Loan Liquidation Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Liquidation Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.