Current Commitments. Schedule 4.14 sets forth, as of the date of this Agreement, all authorities for expenditures or other current commitments (“AFE’s”) relating to the Subject Interests to drill or rework ▇▇▇▇▇, build gathering systems or for other capital expenditures that in each case will be binding upon BG, any Newco, Midstream LLC, the Operator or the Subject Interests after Closing, for which all of the activities anticipated in such AFE’s have not been completed by the date of this Agreement, provided that the Parties acknowledge that no AFE to fund the acquisition of additional Leases shall be binding on any Newco, Midstream LLC or the Operator, and any such acquisition shall be subject to the terms and conditions of Section 6.7, or Article 9 of the Joint Development Agreement, as applicable.
Appears in 3 contracts
Sources: Membership Interest Transfer Agreement, Membership Interest Transfer Agreement, Membership Interest Transfer Agreement (Exco Resources Inc)