Common use of Asset Base Clause in Contracts

Asset Base. 6.7.1 On or before the date falling 10 Business Days before the date on which the Lender and the Borrower are due to submit their proposals in respect of the Assumptions to be used for any Projection pursuant to Clause 6.4 (Preparatory steps), the Borrower may submit a request to the Lender, for any Petroleum Asset to be designated a Borrowing Base Asset and/or for any existing Borrowing Base Asset to cease to be designated a Borrowing Base Asset. 6.7.2 If the Borrower has made a request under Clause 6.7.1 for any Petroleum Asset to be designated a Borrowing Base Asset or a Projection is being prepared pursuant to Clause 6.1.1(B)(5) (Adoption), the Borrower must deliver to the Lender (at the same time it makes the relevant request for such Petroleum Asset to be designated a Borrowing Base Asset) all such information, documentation and evidence as the Lender may require with respect to such Petroleum Asset.

Asset Base. 6.7.1 (a) On or before the date falling 10 ten (10) Business Days before the date on which the Lender and the Borrower are Technical Bank is due to submit their its proposals in respect of the Assumptions to be used for any Projection pursuant to Clause 6.4 (Preparatory stepsSteps), the Borrower may submit a request to the Lender, Agent for its consent for any Petroleum Asset to be designated a Borrowing Base Asset and/or for any existing Borrowing Base Asset to cease to be designated a Borrowing Base Asset. 6.7.2 (b) If the Borrower has made a request under Clause 6.7.1 6.5(a) for any Petroleum Asset to be designated a Borrowing Base Asset or a Projection is being prepared pursuant to Clause 6.1.1(B)(56.1(a)(iii) (Adoption), the Borrower must deliver to the Lender Agent (at the same time it makes the relevant request for such Petroleum Asset to be designated a Borrowing Base Asset) all such information, documentation and evidence as the Lender Agent may require consider necessary with respect to such Petroleum AssetAsset including, without limitation, the matters specified in Clause 6.6 (c) (i) to (iv) (Draft Projections).