Common use of Development Expenditures Clause in Contracts

Development Expenditures. In connection with the development of the Properties, Borrowers shall not expend any proceeds of the Loans for activities not expressly provided for herein or included on an AFE approved in writing by Lender.

Appears in 1 contract

Sources: Credit Agreement (Imperial Resources, LLC)

Development Expenditures. In connection with the development of the Properties, Borrowers Borrower shall not expend any proceeds of the Loans Loan for activities not expressly provided for herein or included on an AFE approved in writing by LenderAdministrative Agent as provided herein.

Appears in 1 contract

Sources: Credit Agreement (Doral Energy Corp.)

Development Expenditures. In connection with the development of the Properties, Borrowers shall not expend any proceeds of the Loans Term Loan for activities not expressly provided for herein in the Budget or included on an AFE approved in writing by Lender.

Appears in 1 contract

Sources: Debtor in Possession Credit Agreement (Cygnus Oil & Gas Corp)