Asset Coverage Test. Permit, as of any Test Date, the ratio of (i) Total Proved PV10% as in effect on the Test Date to (ii) the Obligations as of the Test Date to be less than 4.00 to 1.00; provided that in no event shall the Total Proved PV10% be less than $30,000,000 at any time.
Appears in 3 contracts
Sources: Letter Loan Agreement (Lucas Energy, Inc.), Letter Loan Agreement (Lucas Energy, Inc.), Loan Agreement (Lucas Energy, Inc.)