Common use of Borrowing Base Reporting Clause in Contracts

Borrowing Base Reporting. In addition to the reports required under the Existing Facility Agreement, the Borrowers shall furnish to the Co-Collateral Agents, for distribution to each Lender, (i) a Borrowing Base Certificate, prepared as of the close of business of the first Saturday prior to the CVA Start Date and each Saturday occurring thereafter until the later of (I) the end of January 2018 and (II) the CVA Completion Date (starting with the week ended November 25, 2017) and (ii) a Borrowing Base Certificate, prepared as of the close of business of the first Saturday in November, 2018 and for each Saturday occurring thereafter until the end of January, 2019, in each case not later than 3:00 P.M. (New York time) on the first Friday following each such Saturday.