Common use of Borrowing Base Determinations Clause in Contracts

Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, is acknowledged by the Borrower, the Co-Borrowers and the Lender to be $26,000,000. Commencing on August 1, 1997, 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 amount of the Borrowing Base shall be reduced by $300,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, the Closing Date is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,0006,000,000. Commencing on August December 1, 19972000, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or through the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000175,000 subject to the provisions of the last sentence of Section 2.7(b)."

Borrowing Base Determinations. (a) The Borrowing Base as of June 3010, 1997, is acknowledged by the Borrower, the Co-Borrowers and the Lender to be $26,000,00019,200,000. Commencing on August July 1, 1997, 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 amount of the Borrowing Base shall be reduced by $300,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30----------------------------- August 1, 19972000, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender Lenders to be $26,000,00018,725,000. Commencing on August September 1, 19972000, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or through the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000275,000 (subject to Adjustment in accordance with Section 2.9(b)."

Borrowing Base Determinations. (a) The Borrowing Base as of June 301, 19972003, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,00024,500,000. Commencing on August July 1, 19972003, and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount is redetermined or the Commitment Termination Datenext Borrowing Base, the amount of the Borrowing Base shall be reduced by $300,000670,000."”

Borrowing Base Determinations. (a) The Borrowing Base as of June 30April 1, 19972002, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,00022,000,000. Commencing on August May 1, 19972002, and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount is redetermined or the Commitment Termination Datenext Borrowing Base review, the amount of the Borrowing Base shall be reduced by $300,000475,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, the Closing Date is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,0004,300,000. Commencing on August October 1, 19971998, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or through the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000200,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30December 1, 19971996, is acknowledged by the Borrower, the Co-Borrowers and the Lender to be $26,000,00018,000,000. Commencing on August January 1, 1997, 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 amount of the Borrowing Base shall be reduced by $300,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30September 1, 19972003, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,00021,700,000. Commencing on August October 1, 19972003, and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount is redetermined or the Commitment Termination Datenext Borrowing Base review, the amount of the Borrowing Base shall be reduced by $300,000620,000."”

Borrowing Base Determinations. (a) The Borrowing Base as of June 30October 1, 19972004, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,00019,000,000. Commencing on August November 1, 19972004, and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount is redetermined or the Commitment Termination Datenext Borrowing Base review, the amount of the Borrowing Base shall be reduced by $300,000595,000."”

Borrowing Base Determinations. (a) The Borrowing Base as of June 30February 1, 19972004, is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender to be $26,000,00023,000,000. Commencing on August March 1, 19972004, and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount is redetermined or the Commitment Termination Datenext Borrowing Base review, the amount of the Borrowing Base shall be reduced by $300,000520,000."”

Borrowing Base Determinations. (a) The Borrowing Base as of June 30----------------------------- November 1, 1997, 1998 is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender Lenders to be $26,000,00043,000,000. Commencing on August as of February 1, 1997, 1999 and continuing thereafter on the first day of each calendar month until through the earlier of the date such amount next Borrowing Base Determination which is redetermined or the Commitment Termination Datescheduled for May 1, 1999, the amount of the Borrowing Base shall be reduced by $300,000450,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, the Closing Date is acknowledged by the Borrower, Borrower and the Co-Borrowers and the Lender to be $26,000,00012,500,000. Commencing on August January 1, 19971996, 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 amount of the Borrowing Base shall be reduced by $300,000215,000."

Borrowing Base Determinations. (a) The Borrowing Base as of June 30, 1997, the Closing Date is acknowledged by the Borrower, the Co-Borrowers Borrower and the Lender Lenders to be $26,000,00022,000,000. Commencing on August 1, 1997, 2000 and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or through the Commitment Termination Date, the amount of the Borrowing Base shall be reduced by $300,000450,000."