Investment Entity

Investment Entity. Means any Person which is (a) not an Investment Subsidiary or a Guarantor and (b) owns, leases, holds and/or is party to (i) any Oil and Gas Properties, (ii) any gas processing or gas gathering systems, (iii) any farm-out, farm-in, joint operating, joint venture or area of mutual interest agreements and/or (iv) any gas gathering systems, pipelines or other similar arrangements, in each case located within or related to the geographic boundaries of the United States of America or Canada.

Investment Entity. An entity in which any Pledgor or Pledgors own less than 100% of the Stock.