Common use of Borrowing Base Increase Clause in Contracts

Borrowing Base Increase. Subject to the terms of this Agreement, the parties hereto hereby agree that, as of the Effective Date, the Borrowing Base is hereby increased from $425,000,000 to $540,000,000, and the Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement, as amended hereby. The redetermination of the Borrowing Base pursuant to this Section 5 shall constitute the scheduled Semi-Annual Redetermination to occur on or about April 1, 2018, as set forth in Section 2.2(b)(i) of the Credit Agreement, as amended hereby. The parties hereto hereby agree that the next Scheduled Redetermination of the Borrowing Base shall be a Quarterly Redetermination to occur on or about July 1, 2018, as provided in Section 2.2(c)(iii) of the Credit Agreement.

Borrowing Base Increase. Subject to the terms of this Agreement, the parties hereto hereby agree that, as of the Effective Date, the Borrowing Base is hereby increased from $425,000,000 250,000,000 to $540,000,000425,000,000, and the Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement, as amended hereby. The redetermination of the Borrowing Base pursuant to this Section 5 4 shall constitute the scheduled Semi-Annual Redetermination to occur on or about April October 1, 20182017, as set forth in Section 2.2(b)(i2.2(b)(ii) of the Credit Agreement, as amended hereby. The parties hereto hereby agree that the next Scheduled Redetermination of the Borrowing Base shall be a Quarterly Semi-Annual Redetermination to occur on or about July April 1, 2018, as provided in Section 2.2(c)(iii2.2(b) of the Credit Agreement.