Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrower and the Lenders to be $29,000,000 and shall reduce to a level of $27,500,000 within ten days of the Closing Date. Commencing on May 1, 1998, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or the Commitment Termination Date, the Scheduled Reduction Amount shall be $275,000.
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by Borrower, Administrative Agent and the Lenders to be $75,000,000.00.
Borrowing Base Determinations. (a) The Borrowing Base as of February 1, 2004, is acknowledged by the Borrower and the Lender to be $23,000,000. Commencing on March 1, 2004, and continuing thereafter on the first day of each calendar month through the next Borrowing Base review, the amount of the Borrowing Base shall be reduced by $520,000.”
Borrowing Base Determinations. (a) The Borrowing Base as of December 28, 2004, is acknowledged by the Borrower and the Lenders to be $33,880,000."
Borrowing Base Determinations. (a) The Borrowing Base for Facility A as of the Closing Date of this Third Amendment is acknowledged by the Borrower and the Lender to be $24,000,000 and acknowledged by Borrower and the Lender to be $5,000,000 for Facility B. The Borrowing Base for Facility A and Facility B shall be redetermined on February 1, 2006."
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is agreed by the Borrower and the Lenders to be $100.0 million.
Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers and the Lenders to be $300,000,000, effective until the next subsequent determination of the Borrowing Base pursuant to this Section.
Borrowing Base Determinations. (a) The Borrowing Base as of March 29, 1999, is acknowledged by the Borrower and the Lender to be $20,500,000. The Borrowing Base shall be reduced on April 1 and May 1, 1999, by $50,000 each date and on June 1, 1999, by $200,000. Commencing on July 1, 1999, and continuing on the first day of each calendar month thereafter until the earlier of the date such amount is redetermined or the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000."
Borrowing Base Determinations. 30 2.10 Competitive Bid Procedure..................................30
Borrowing Base Determinations. (a) Within 45 days after receipt of the Engineering Report required to be delivered each year, commencing with the Engineering Report required to be delivered in 1994, Agent shall notify the Company, in writing, of the Oil and Gas Reserves Component Value determined on the basis of such Engineering Report and the Borrowing Base determined on the basis of such Oil and Gas Reserves Component Value, together with the determination of the Alaskan Gas Component Value. Each such determination is herein called a "
