Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, is acknowledged by the Borrower, the Co-Borrowers and the Lender to be $26,000,000. Commencing on August 1, 1997, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000."
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers and the Lender to be $30,000,000.
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers and the Lender to be $3,400,000. The amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced by $125,000 on the first day of each month beginning September 1, 2008 (the “Monthly Borrowing Base Reduction”).
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrower and the Lender to be $9,000,000.
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrower and the Lenders to be $29,000,000 and shall reduce to a level of $27,500,000 within ten days of the Closing Date. Commencing on May 1, 1998, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or the Commitment Termination Date, the Scheduled Reduction Amount shall be $275,000.
Borrowing Base Determinations. (a) The Borrowing Base as of September 9, 2003, is acknowledged by the Borrower and the Lenders to be $25,800,000."
Borrowing Base Determinations. 38 3.4 Covenants Relating to Borrowing Base Properties ..... 39 3.5
Borrowing Base Determinations. (a) The Borrowing Base for Facility A as of the Closing Date of this Second Amendment is acknowledged by the Borrower and the Lender to be $29,000,000 and acknowledged by Borrower and the Lender to be $5,000,000 for Facility B. The Borrowing Base for Facility A and Facility B shall be redetermined on November 1, 2005.
Borrowing Base Determinations. 30 2.10 Competitive Bid Procedure..................................30
Borrowing Base Determinations. (a) Within 45 days after receipt of the Engineering Report required to be delivered each year, commencing with the Engineering Report required to be delivered in 1998, Agent shall notify the Company, in writing, of the Oil and Gas Reserves Component Value determined on the basis of such Engineering Report and the Borrowing Base determined on the basis of such Oil and Gas Reserves Component Value, together with the determination of the Alaskan Gas Component Value. Each such determination is herein called a "
