Common use of Documents Required for Subsequent Disbursements Clause in Contracts

Documents Required for Subsequent Disbursements. As of the time of funding any additional advances to Borrower that are made in conjunction with the addition to the Borrowing Base Properties of Oil and Gas Properties, Cash, Cash Equivalent, and/or Eligible Marketable Securities owned by Borrower or any Guarantor, Borrower or such Guarantor shall have duly delivered to Bank: (i) the Security Instruments that are necessary or appropriate, in the opinion of Bank, relating to such additional Borrowing Base Properties, (ii) Transfer Order Letters applicable to the production of oil and gas from any additional Oil and Gas Properties added to the Borrowing Base Properties, and (iii) possession of any such additional Borrowing Base Cash and Borrowing Base Securities.

Documents Required for Subsequent Disbursements. As of the time of funding any additional advances to Borrower that are made in conjunction with the addition to the Borrowing Base Properties of Oil and Gas Properties, Cash, Cash Equivalent, and/or Eligible Marketable Securities owned by Borrower or any Guarantor, Borrower or such Guarantor shall have duly delivered or caused to be delivered to Bank: (i) the Security Instruments that are necessary or appropriate, in the opinion of Bank, relating to such additional Borrowing Base Properties, (ii) Transfer Order Letters applicable to the production of oil and gas from any additional Oil and Gas Properties added to the Borrowing Base Properties, and (iii) possession of any such additional Borrowing Base Cash and Borrowing Base Securities. Article III of the Loan Agreement is hereby amended by adding the following Section 3.19.