Future Commitments. Except as set forth on Schedule 3.16, on a net basis there are no material gas imbalances, material take-or-pay or other prepayments with respect to the Oil and Gas Properties of any Contango Entity (or, in the case of Oil and Gas Properties operated by operators other than a Contango Entity, to the Borrower’s knowledge after reasonable investigation) which would require such Contango Entity to deliver hydrocarbons produced from Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor.
Appears in 3 contracts
Sources: Term Loan Agreement (Contango Oil & Gas Co), Term Loan Agreement (Contango Oil & Gas Co), Term Loan Agreement (Contango Oil & Gas Co)