Common use of Operating Reports Clause in Contracts

Operating Reports. The Borrower shall prepare and ------------------ provide to the Lenders and Administrative Agent the following reports: (i) on a monthly basis by the 25th of each month and in connection with the delivery by the Borrower of any Invoice Disbursement Request, a report through the end of the prior month setting forth as to each Development Project (each well on an individual well by well basis), the actual vs. estimated cost breakdown (for all activities, including dry hole and completion activities) for such Development Project; (ii) on a monthly basis by the 25th of each month a cumulative report through the end of the prior month setting forth all amounts to be disbursed pursuant to Section 3.01 and Section 6.01(b), including a schedule identifying each category of payments identified as clauses (i) through (x)of Section 6.01(b), with a detailed schedule of all items in each such clause. (iii) such other information as the Lenders may reasonably request with respect to drilling, operation or property status matters, including notice of any material changes with regard to oil and gas prices received, contracts or production expenses or any material litigation affecting the operation of the Oil and Gas Properties of the Borrower.