Common use of Asset Base Clause in Contracts

Asset Base. On or before the date falling 30 days before the date by which the Technical Bank and the Obligors’ Agent are required under Clause 6.4(a) (Preparatory Steps) to submit their proposals in respect of the Assumptions to be used for any Banking Case (or such later date as may be agreed by the Technical Bank), the Obligors’ Agent may submit a written request (setting out in reasonable detail the reason for the request) to the Agent, the Technical Bank and the Lenders for any existing Borrowing Base Asset to cease to be designated a Borrowing Base Asset.