Borrowing Base Properties definition

Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

Borrowing Base Properties means all Oil and Gas Interests of the Borrower and the Restricted Subsidiaries evaluated by the Lenders for purposes of establishing the Borrowing Base.

Borrowing Base Properties means all Mineral Interests evaluated by Banks for purposes of establishing the Borrowing Base. The Borrowing Base Properties on the Effective Date constitute all of the Mineral Interests described in the Initial Reserve Report.

Examples of Borrowing Base Properties in a sentence

• If the Borrower or any one of the other Credit Parties Disposes of Oil and Gas Properties or Disposes of any Stock or Stock Equivalents in any Restricted Subsidiary owning Oil and Gas Properties, and such Disposition does not involve Borrowing Base Properties, the Borrower shall, on the next Business Day, prepay the Term Loans in an aggregate principal amount equal to the lesser of (A) 50% of the Net Cash Proceeds obtained from such Disposition and (B) the sum of the then-outstanding Term Loans.

• Borrower will promptly conduct and complete at Borrower’s expense all such environmental investigations and testings on the Borrowing Base Properties as may be requested by Administrative Agent or any Governmental Authority.

• Upon consummation of the sale of any Collateral generating net operating income (each, an “Income Producing Property”), including without limitation, any of the Borrowing Base Properties (other than the Required Borrowing Base Properties which will not be permitted to be sold without Super Majority Lender consent), 100% of the net proceeds thereof will be applied in repayment of the Facilities.

• Each Loan Party is entitled to charge its interests in the Borrowing Base Properties in favour of the Agent and the Lenders as provided in this Agreement without the need to obtain any consent of or release from any other Person which has not been obtained and such Borrowing Base Properties are not held in trust by any such Loan Party for any other Person.

• Each Loan Party has good and valid title to its Borrowing Base Properties, subject only to Permitted Encumbrances and to minor defects of title which in the aggregate do not materially affect its rights of ownership therein or the value thereof or to which the Lenders have consented to in writing.

More Definitions of Borrowing Base Properties

Borrowing Base Properties means the proved Oil and Gas Properties of the Borrower and its Restricted Subsidiaries included in the most recently delivered Reserve Report hereunder.

Borrowing Base Properties means, as of any date of determination, subject to the requirements of Section 7.04, the Real Properties (including, without limitation, all related land, improvements and fixtures) listed on Schedule 1.01(b) (as such schedule may be adjusted (or deemed adjusted) pursuant to Section 7.13).

Borrowing Base Properties means each Acceptable Property that either (a) is an Initial Borrowing Base Property or (b) becomes a Borrowing Base Property pursuant to Section 4.03, but excluding any Acceptable Properties that have been released from the Borrowing Base pursuant to Section 4.09, and “Borrowing Base Property” means any one of the Borrowing Base Properties.

Borrowing Base Properties means, the Individual Properties initially listed in Schedule 6.14.2(i) hereto, plus any Individual Property which subsequently becomes a Borrowing Base Property in accordance with Section 3.4 hereof, but excluding (i) any Borrowing Base Property which is determined by the Administrative Agent to no longer be a Borrowing Base Property in accordance with Section 3.3, hereof, or (ii) any Borrowing Base Property which is released in accordance with Section 3.2 hereof.

Borrowing Base Properties means the Oil and Gas Properties of the Restricted Persons evaluated by the First Lien Lenders for purposes of establishing the Borrowing Base then in effect.

Borrowing Base Properties means any and all interests of Borrower, whether now owned or hereafter acquired, in any and all oil and/or gas properties, xxxxx, leases, gathering systems, processing plants and other related rights and assets to which BOK now or hereafter gives value in determining the Borrowing Base.

Borrowing Base Properties means each Acceptable Property that either (a) is an Initial Borrowing Base Property or (b) becomes a Borrowing Base Property pursuant to Section 4.03, but excluding any Acceptable Properties that have been released from the Borrowing Base pursuant to Section 4.09, and “Borrowing Base Property” means any one of the Borrowing Base Properties, provided that after the date that is six (6) months after a Borrowing Base Property becomes a Dark Property, said Property shall no longer constitute a Borrowing Base Property and its Borrowing Base Asset Value and Adjusted Borrowing Base NOI shall be excluded when calculating the Borrowing Base.