Common use of An Event of Default under Section 8 Clause in Contracts

An Event of Default under Section 8. 1(a) of the Credit Agreement as a result of U.S. Borrower's failure to repay the Obligations in the amount by which the unpaid principal balance of the U.S. Revolving Loans, Swing Loans and U.S. L/C Obligations outstanding as of March 31, 2017 exceeded the U.S. Borrowing Base as then determined and computed, as required by Section 2.9(b)(iv) of the Credit Agreement; and

An Event of Default under Section 8. 1(a) of the Credit Agreement as a result of U.S. Borrower's failure to repay the Obligations in the amount by which the unpaid principal balance of the U.S. Revolving Loans, Swing Loans and U.S. L/C Obligations outstanding as of March 31, 2017 exceeded the U.S. Borrowing Base as then determined and computed, as required by Section 2.9(b)(iv) of the Credit Agreement; and;