Common use of Borrowing Base Adjustments Clause in Contracts

Borrowing Base Adjustments. The Administrative Agents or the Required Lenders may, in their reasonable discretion, in reviewing the collateral components of the Canadian Borrowing Base or the U.S. Borrowing Base, (x) after completion of any evaluation or any appraisal contemplated by Section 5.09(b) or (y) upon the occurrence and during the continuation of a Default, from time to time (a) decrease the advance rates for the U.S. Borrowing Base or the Canadian Borrowing Base (or both), (b) establish and revise reserves reducing the amount of Eligible Real Estate or Eligible Inventory and (c) impose additional eligibility criteria to be applicable to Eligible Real Estate or Eligible Inventory; provided that any such adjustment described in clause (a), (b) or (c) above shall be made only in the event that the Administrative Agents or the Required Lenders reasonably determine (based upon an evaluation or appraisal referred to in Section 5.09(b) or other objectively determinable facts or circumstances) that the applicable U.S. Borrowing Base or Canadian Borrowing Base, or component thereof, or its value as Collateral, is adversely affected by one or more events, conditions, contingencies or risks that are not already adequately reflected in the calculation of the U.S. Borrowing Base or Canadian Borrowing Base (as applicable); provided further that no change will be made to the borrowing base standards pursuant to this Section 1.06 if such change would increase the U.S. Borrowing Base or the Canadian Borrowing Base in effect at any time above the U.S. Borrowing Base or the Canadian Borrowing Base, respectively, that would be in effect at such time if the U.S. Borrowing Base or the Canadian Borrowing Base, respectively, were calculated using the standards in effect on the date hereof or, if such standards have been amended pursuant to Section 9.02(b)(vi), using the standards as in effect on the date of such amendment. Any such adjustment pursuant to this Section 1.06 shall not be effective until at least 10 days after delivery of notice of such adjustment to the Company.

Borrowing Base Adjustments. The Administrative Agents or the Required Lenders may, in their commercially reasonable discretion, discretion (x) in reviewing the collateral components of the Canadian Borrowing Base or the U.S. Borrowing Base, (xy) after completion of any evaluation or any appraisal contemplated by Section 5.09(a) or Section 5.09(b) or (yz) upon the occurrence and during the continuation of a Default, from time to time (a) decrease the advance rates for the U.S. Borrowing Base or the Canadian Borrowing Base (or both), (b) establish and revise reserves reducing the amount of Eligible Real Estate or Coinstar Receivables, Eligible Credit Card Accounts Receivable, Eligible Third Party Insurance Provider Accounts Receivable, Eligible Inventory or Scripts and (c) impose additional eligibility criteria to be applicable to Eligible Real Estate Coinstar Receivables, Eligible Credit Card Accounts Receivable, Eligible Third Party Insurance Provider Accounts Receivable, Eligible Inventory or Eligible InventoryScripts; provided that any such adjustment described in clause (a), (b) or (c) above shall be made only in the event that the Administrative Agents or the Required Lenders reasonably determine (based upon an evaluation or appraisal referred to in Section 5.09(a) or Section 5.09(b) or other objectively determinable facts or circumstances) that the applicable U.S. Borrowing Base or Canadian Borrowing Base, or component thereof, or its value as Collateral, is adversely affected by one or more events, conditions, contingencies or risks that are not already adequately reflected in the calculation of the U.S. Borrowing Base or Canadian Borrowing Base (as applicable); provided further that no change will be made to the borrowing base standards pursuant to this Section 1.06 if such change would increase the U.S. Borrowing Base or the Canadian Borrowing Base in effect at any time above the U.S. Borrowing Base or the Canadian Borrowing Base, respectively, that would be in effect at such time if the U.S. Borrowing Base or the Canadian Borrowing Base, respectively, were calculated using the standards in effect on the date hereof or, if such standards have been amended pursuant to Section 9.02(b)(vi), using the standards as in effect on the date of such amendment. Any such adjustment The Administrative Agents will provide written notice to the Company of any adjustments made pursuant to this Section 1.06 shall not be effective until at least 10 days after delivery of notice on the date of such adjustment to the Companyadjustments.