Administrative Agent and Required Lenders’ Approval Sample Clauses

Administrative Agent and Required Lenders’ Approval. Each Eligible Property shall be subject to Administrative Agent’s and Required Lenders’ approval to become a Borrowing Base Property. Administrative Agent and Required Lenders will have ten (10) Business Days from receipt of the information in clauses (a) and (b) of the definition of Property Information with respect to an Eligible Property to approve or disapprove the designation of such Eligible Property as a Borrowing Base Property. Administrative Agent and Required Lenders may approve Real Properties that are not Eligible Properties to become a Borrowing Base Property in their sole discretion. Notwithstanding the foregoing guidelines, Administrative Agent and Lenders hereby approve all Initial Borrowing Base Properties.