Executive will be eligible to participate in the Company’s annual performance appraisal process.

Deepening, Sidetracking, Plugging Back and/or Recompletion of Exploration Wells and Appraisal Wells;

"Appraised Value" means a valuation according to an appraisal made by an Independent Appraiser.

Completion of Exploration Wells and Appraisal Wells not then Completed as productive of Hydrocarbons;

Appraisals. The Agent may obtain from time to time, an M.A.I. appraisal of any Property prepared in accordance with written instructions from the Agent by an independent appraiser engaged directly by or otherwise reasonably acceptable to the Agent and in form reasonably satisfactory to the Agent (including satisfaction of applicable regulatory requirements) (each, an “Appraisal”). Subject to the next succeeding sentence, the cost of any such Appraisal shall be borne by the Borrowers # if such Appraisal is the first Appraisal for a given Property in any calendar year and # in all events if # the Agent orders such Appraisal after the occurrence of an Event of Default, # there is, in the Agent’s reasonable judgment, a Material Adverse Change, # in connection with a proposed extension pursuant to Section 2.1.5 hereof, or # at any time such Appraisal is required by applicable law or regulatory requirements, and, in each such case, such cost is due and payable by the Borrowers upon demand and shall be secured by the Loan Documents. The Borrowers’ obligation to bear the cost of Appraisals of each Property obtained pursuant to clause (i) and subclause (ii)(z) above shall be limited to not more than one (1) Appraisal per Property per Fiscal Year, provided that the foregoing limitation # will be suspended following the occurrence and during the continuation of any Default and # will terminate upon the occurrence of any Event of Default (it being agreed, however, that if the Agent subsequently grants a full waiver thereof and reinstates the Borrower to good standing hereunder, then the limitation will be considered reinstated on a prospective basis pending the occurrence of a further Event of Default, provided that, for the avoidance of doubt, in the event of a reinstatement following an Event of Default, any Appraisal obtained by the Agent prior to or during the continuance of such Event of Default shall not count towards the limitation).

“Appraisal” shall mean an appraisal of the related Underlying Mortgaged Property from an Independent Appraiser that is compliant with the Financial Institutions Reform, Recovery, and Enforcement Act and prepared by a third-party appraiser addressed to, or permitted to be relied upon by, Administrative Agent, on behalf of Buyers, and satisfactory to Administrative Agent.

“Qualified Appraisal” means, with respect to each real property, an appraisal of such real property conducted in a manner and with such scope and using such methods as are acceptable to the Administrative Agent by an independent appraiser selected by the Administrative Agent, the results of which are acceptable to the Administrative Agent in all respects.

exploration, appraisal, development or production of minerals other than Hydrocarbons, whether inside or outside of the Contract Area.

The purchase price has been allocated based on Management’s estimates and independent appraisal of fair values as follows:

Net Rentable Area. With respect to any Real Estate, the net rentable square footage as determined in accordance with the most recent appraisal of such Real Estate.