Common use of Borrowing Base Determinations Clause in Contracts

Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers and the Lender to be $3,400,000. The amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced by $125,000 on the first day of each month beginning September 1, 2008 (the “Monthly Borrowing Base Reduction”).

Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date March 29, 1999, is acknowledged by the Borrowers Borrower and the Lender to be $3,400,00020,500,000. The amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced on April 1 and May 1, 1999, by $125,000 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 beginning September 1thereafter until the earlier of the date such amount is redetermined or the Commitment Termination Date, 2008 (the “Monthly amount of the Borrowing Base Reduction”)shall be reduced by $300,000."

Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers Borrower, the Agent and the Lender Lenders to be $3,400,00032,400,000. The Commencing on May 10, 2008 and continuing thereafter on the tenth day of each calendar month through the Commitment Termination Date, the amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced by the Monthly Commitment Reduction Amount, which Monthly Commitment Reduction Amount as of the Closing Date is acknowledged by the Borrower and the Agent to be $125,000 on the first day of each month beginning September 1, 2008 (the “Monthly Borrowing Base Reduction”)1,500,000.

Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers and the Lender to be $3,400,0005,250,000. The amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced by $125,000 the amount of the Monthly Borrowing Base Reduction beginning June 30, 2006 and on the first last day of each month beginning September 1, 2008 (the “thereafter until redetermined by Lender. The Monthly Borrowing Base Reduction”)Reduction as of the Closing Date is equal to $0.00.

Borrowing Base Determinations. (a) The Borrowing Base as of the Closing Date is acknowledged by the Borrowers Borrower and the Lender to be $3,400,0007,500,000. The amount of the Borrowing Base (as adjusted from time to time under the terms of this Agreement) shall be reduced by $125,000 Commencing on January 1, 2003, and continuing thereafter on the first day of each calendar month beginning September 1, 2008 (until the “Monthly next Borrowing Base Reduction”)review, the amount of the Borrowing Base shall be reduced by $200,000.