Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect and consistent with the standards of a reasonably prudent operator: (a) Maintain, develop, and operate Borrower's Oil and Gas Properties, and oil and gas gathering assets in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties so long as the oil and gas leases are capable of producing Hydrocarbons in quantities and at prices providing for continued efficient and profitable operation of business; (b) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's Oil and Gas Properties or the production and sale of Hydrocarbons therefrom; (c) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business. (d) With respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties subject to the applicable operating agreements.
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Sources: Credit Agreement (Belco Oil & Gas Corp), Credit Agreement (Belco Oil & Gas Corp)
Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect and consistent with the standards of a reasonably prudent operator:
(a) Maintain, develop, and operate Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, Properties and oil and gas gathering assets in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties so long as the oil and gas leases are capable of producing Hydrocarbons in quantities and at prices providing for continued efficient and profitable operation of business;
(b) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties or the production and sale of Hydrocarbons therefrom;
(c) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, Properties and oil and gas gathering assets in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.
(d) With respect to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, Properties and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties subject to the applicable operating agreements.
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Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect and consistent with the standards of a reasonably prudent operator:
(a) Maintain, develop, and operate Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, and oil and gas gathering assets in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties so long as the oil and gas leases are capable of producing Hydrocarbons in quantities and at prices providing for continued efficient and profitable operation of business;
(b) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties or the production and sale of Hydrocarbons therefrom;
(c) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, and oil and gas gathering assets in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.
(d) With respect to Borrower's and its Restricted Subsidiaries' Oil and Gas Properties, and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties subject to the applicable operating agreements.
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Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect on the financial condition or operations of Borrower or its Subsidiaries and consistent with the standards of a reasonably prudent operator:
(a1) Maintain, develop, and operate Borrower's Oil and Gas Properties, and oil and gas gathering assets Properties in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties properties so long as the oil and gas leases are capable of producing Hydrocarbons hydrocarbons and accompanying elements in quantities and at prices providing for continued efficient and profitable operation of businesspaying quantities;
(b2) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's Oil and Gas Properties or the production and sale of Hydrocarbons hydrocarbons and accompanying elements therefrom;
(c3) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets Properties in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries Subsidiary shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.
(d4) With respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets Properties which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts seek to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties the oil and gas properties subject to the applicable operating agreements.
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Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect material and adverse effect on the financial condition or operations of Borrower or its Subsidiaries and consistent with the standards of a reasonably prudent operator:
(a) Maintain, develop, and operate Borrower's Oil and Gas Properties, and oil and gas gathering assets in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties properties so long as the oil and gas leases are capable of producing Hydrocarbons and accompanying elements in quantities and at prices providing for continued efficient and profitable operation of business;
(b) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's Oil and Gas Properties or the production and sale of Hydrocarbons and accompanying elements therefrom;
(c) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided PROVIDED that no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.; and
(d) With respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts seek to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties properties subject to the applicable operating agreements.
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Maintenance and Operation of Property. To the extent that the failure to comply could reasonably be expected to have a Material Adverse Effect on the financial condition or operations of Borrower or its Subsidiaries and consistent with the standards of a reasonably prudent operator:
(a1) Maintain, develop, and operate Borrower's Oil and Gas Properties, and oil and gas gathering assets Properties in a good and workmanlike manner, and observe and comply with all of the terms and provisions, express or implied, of all oil and gas leases relating to the Properties properties so long as the oil and gas leases are capable of producing Hydrocarbons hydrocarbons and accompanying elements in quantities and at prices providing for continued efficient and profitable operation of businesspaying quantities;
(b2) Comply in all material respects with all contracts and agreements applicable to or relating to Borrower's Oil and Gas Properties or the production and sale of Hydrocarbons hydrocarbons and accompanying elements therefrom;
(c3) At all times, maintain, preserve, and keep all operating equipment used with respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets Properties in proper repair, working order and condition, and make all necessary or appropriate repairs, renewals, replacements, additions and improvements thereto so that the efficiency of the operating equipment shall at all times be properly preserved and maintained, provided that PROVIDED THAT no item of operating equipment need be so repaired, renewed, replaced, added to or improved, if Borrower or its Subsidiaries Subsidiary shall in good faith determine that the action is not necessary or desirable for its continued efficient and profitable operation of business.
(d) With respect to Borrower's Oil and Gas Properties, and oil and gas gathering assets which are operated by operators other than Borrower or a Restricted Subsidiary, use reasonable efforts to enforce in a manner consistent with the industry practice the operators' contractual obligations to maintain, develop, and operate such Properties subject to the applicable operating agreements.
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