Borrowing Base Increases Sample Clauses
Borrowing Base Increases. As a condition precedent to Borrower’s acceptance of (and to the effectiveness of) any increase to the Borrowing Base determined by the Lenders pursuant to Section 2.9, Borrower will pay to Administrative Agent for the account of each Lender, a Borrowing Base increase fee in an amount to be mutually agreed upon by the Lenders and Borrower based on then prevailing market conditions. The Borrowing Base will not be increased and no Borrowing Base increase fee will be incurred with respect to any proposed increase in the Borrowing Base unless Borrower delivers to Administrative Agent written notice that Borrower accepts the proposed increase (or a portion thereof) and confirms the amount of the Borrowing Base increase fee mutually agreed upon by the Lenders and the Borrower.
Borrowing Base Increases. Upon any increase in the Borrowing Base to an amount greater than $300,000,000 and on the occasion of each increase in the amount of the Borrowing Base thereafter, the Company shall pay to the Administrative Agent for the account of the Lenders a one-time aggregate additional non-refundable facility fee of 0.15% of such increase on each Redetermination Date on which the Borrowing Base shall increase above the highest Borrowing Base outstanding under this Agreement prior to such date.