Borrowing Base Amendment Sample Clauses

Borrowing Base Amendment. At the time of the extension of any Additional Credit, the Borrowing Base Amendment shall have been executed and delivered.
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Borrowing Base Amendment. On the last day of the fiscal quarter immediately following the end of the Real Property Appraisal Period and on the last day of each of the four subsequent fiscal quarters thereafter, the Real Property Overadvance shall be reduced by $1,000,000, unless the Real Property Overadvance has already been reduced to zero. Upon receipt by Lender of the documents referred to in Section 10.1 above reasonably acceptable in all respects to Lender in its sole discretion, (i) the Borrowing Base shall be increased by the amount of the Real Property Valuation (including the Real Property Valuation allocable to the Mortgaged Property in Michigan, only if the Detroit Mortgage and a Phase II Report or insurance policy, both reasonably acceptable in all respects to Lender in its sole discretion, as referred to in Section 10.1 hereof is provided to Lender), up to $10,000,000.00 (or such greater amount as Lender shall determine in its sole discretion) and (ii) the Real Property Overadvance shall be reduced to zero.
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Borrowing Base Amendment. Section 1.3 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
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Related to Borrowing Base Amendment

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Initial Borrowing Base Certificate Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts and Eligible Inventory of Borrower as of a date not more than seven (7) days prior to the Closing Date.

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Compliance After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.

  • Execution of Loan Documents; Borrowing Base Certificate The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents, including, without limitation, the Borrowing Base Certificates and the Compliance Certificates. Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Credit Agreement Amendment The Credit Agreement is hereby amended as follows:

  • Credit Agreement Amendments The Credit Agreement is hereby amended as follows:

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